It was a very frustrating day today for us. We thought we had capitulation at the beginning of the day, but there was none. It whimpered out. Guess the waves have to finish playing out. So the date of turnaround is put off at least till the late half of next week. We will probably see some heavy selling before that.
In lieu of this view, we loaded up on SDS when the dow was down about 200 points today. We think the indices are going to go much lower. We also expect the heaviest phase of selling to come on monday and tuesday. So buckle up
Sad but true.
Subscribe to:
Post Comments (Atom)
3 comments:
You are brave to go short into the weekend, since European governments might do something dramatic, not to mention Uncle Sam. But no guts, no glory, right? I guess if you bought it when the DOW was down about 200 points, you have, since it is 2x, about 4% cushion already built into your position already.
Hil..I am short this weekend and really concerned that you maybe right. Other bear blogs is looking for a rally..I hope not.
No dramatic action over the weekend. US market is tepid this morning. Good chance to get out of your shorts, but then who knows what will happen tomorrow. A rate cut will give us a rally. No rate cut will give us the mother of all crashes. What will a 0.25 rate cut do? Maybe a small decline? The market keeps making all prophets wrong 50% of the time. I'm just glad I'm mostly in cash and bonds (80%), but at some point I need to make some money. But scared to go long and scared to go short. Well, hope you all have a good day. Back to grading term papers. Fun, fun.
Post a Comment