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Direxion Daily Financial Bear 3X ETF Message Board

  • perfect_sense22 perfect_sense22 Apr 4, 2009 1:08 AM Flag

    Somehow we are actually in a bull market...

    I didn't want to believe it, but every time I have tried shorting, I get stopped out.

    I can no longer fight the trend. The market bottoms 6-9 months before the economy is at its worst, so it actually makes sense that we are in a recovery period, even if the economy doesn't improve until the winter. Earnings will be terrible but the market will shrug it off, we wont be seeing more than a 4-5% dip so there is much more upside for longs.

    If you short, take profits then go long.

    I was mentally traumatized from jan-feb so it took me a while to accept the fact that the fear in the market is slowly going away. We aren't selling off at 3:30. As soon as things look like the sky is falling, longs come in and scoop up great bargains.

    The market is recovering and by time the banks are fixed, all the profits will have already been made by those willing to take the risk.

    Dont let your emotionals get in the way of what is actually happening.

    -Joe

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    • The economy has no shot of improving this winter. The shorts got squeezed on a major oversold condition. China no longer wants to get paid in US dollars and their worried about holding $740B of our debt. Wait til the next treasury auction. Holiday shortened week, earnings and tax season reality will set in real soon on all those not protecting their profits. Whose buying this market now anyway? It certainly isn't the pros but scared investors who are pissed they missed this run up.

    • ..................

    • Depends if there are composers to the tune or another cultural transformation in progress.

      Interesting.

    • Be careful. We are still in a bear market. It's a massive rally, but don't let that fool you. You can make money long or short but remember not to get "married" to one side or the other. Eventually we will retest the lows, if not break through them. Until then, we could go lower or much higher. Good Luck!

      • 1 Reply to mattco777
      • I appreciate the advice. The reason I dont think we will retest the lows is because:

        We hit an artificial low when Geithner came out and bombed. There was alot riding on his speach, and he gave the market no clearity.

        The market hates uncertainty MORE than bad news. So I feel the 666 low is a thing of the past.

        Also, most think we will go higher but first retest the lows. We wont retest because everyone knows we would just bounce off it. Who would sell at 670 if everyone knows we would bounce off 660?

        Think about the psychology behind a bottom. Its gone and you missed it. I did too. No bragging rights for me. Maybe I will be around in the next generational low and I will better able to call it.

        Good Luck my friend

 
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