Friday, November 27, 2009
Feel Like OJ
That was a giant bear trap and I got squeezed looking for a selloff. Time to wait for the next chance. It is still too early to get aggressively short. This market is not ready to panic just yet. Betting on others to panic often doesn't pay. Another opportunity awaits next week. I will wait.
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5 comments:
Why would you short a mkt that is down 24 points dawg?
In a bull mkt, you buy dips, in a bear you fade tops.
Can't win them all. Based on the market setup, I felt like we were going to have a weak day, and we didn't. But we didn't have a really strong day either.
I was lookin' to sell some of my longs, but after a few minutes, I determined, NO WAY! I added to my longs. I expect Asia to rally Sunday, we'll gap up, then I may sell some of my longs at the end of the day if conditions warrant it.
check it dawg ... i knew that today was going to be a great opportunity to buy shit cheap at the open because things will be oversold. but a lot of people knew that.
Petsamo, you have balls. I can't make myself go long here, with the way the market has acted over the past 2 weeks. But I do agree that we go up before down.
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