Tuesday, September 14, 2010
The Last Push
Where traders often make mistakes is when they try to short an uptrend too early and get grinded down. I have done that many times and this feels like one of those steady upmoves that last longer than most expect. The dollar getting pounded today tells me hedgies likely went out on the risk curve today. I will wait a bit longer before putting on another swing short.
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2 comments:
The SPX resistance held.
Went heavily net short yesterday. How does the dollar getting pounded suggest hedge funds in the process of going long? Isn't the overbought status obvious? Do you expect the AAII and put/call readings to continue to push to extreme levels or are you just channeling on the ground sentiment?
Praguer
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