Reply To: Monday 14th October 2013 onwards

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    shorting right now is madness. Ok itโ€™s possible to grab 3 or 4 handles on a counter trend trade but why fight the trend?? Far far easier (and less nerve racking) to make money longing the dips with much greater gains than 3 or 4 handles.

    I guess it’s about individual trading styles, for me, I wanted to short this a couple of days ago on the Wednesday night close, I didn’t basis couldn’t support it technically, just so happen a Dow/s&p short that night would have yielded 10/100 points, anyone long on wed night may have been wondering why they had just bought a market high, though it then recovered on the day.

    I didn’t have the nerve to short it as I couldn’t see a technical reason, so decided to hold off expecting at least panther 10/100 higher and that has happened now, so I’m happy to start building into a position, generally I run positions a lot longer these days.

    We all know what it takes to build the market up it generally knocks back down at 2-3 times the speed it builds it up. For me I’m much more happy buildings a short position at current market year high levels than a long position, yes granted the trend is your friend, but key resistance and retracement percentages are important too (Dow,Dow transport index, vix levels etc.

    that said, the day I call a very top or bottom is they day i’ll retire ๐Ÿ™‚