A few reasons why I am shorting this bounce

Quote from waggie945:

You mean that you are not the infamous James Stock?

Wow, you could have fooled me!

:D
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I am not. And apparently I did.

It's not the biggest accomplishment to fool you, unless you are also guru of ET, as well as policeman, psychic, and news reporter.
 
Quote from waggie945:

Please let me know when your Newsletter comes out!

I'd love to subscribe.

:p
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Ahh, you're playing psychic again. You have so many responsibilities!

What newsletter? Are you deranged?
 
Lets get back to focusing on the market.

Today was another distribution day. VIX plunging to new lows and then reverses. I am now about 40% short.

Market is still range bound.. and I think we are gonna test the bottom of the range.
 
I think we are about to start getting some upward guidance from a lot of co's that sandbagged forcasts for this quarter. There may be some volatility this week but it looks to me like we are poised to start making a move higher.
 
Quote from Mvic:

I think we are about to start getting some upward guidance from a lot of co's that sandbagged forcasts for this quarter. There may be some volatility this week but it looks to me like we are poised to start making a move higher.
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The only way my bias would change is if the S&P500 tightens up and holds near highs on lower volume. If we get a break to new highs on decent volume.. More than likely we will get another leg up.

The bearish case would be that we are in the midst of forming a triple top.. and the inevitable is the S&P test the 50ma.



--MIKE
 
Covering some my shorts here. IWM almost down a point today.

I will remain 25% short again.

I will look to re enter short into a nice short covering rally.

So far so good.
 
looking back about a year supports trendfader and his method.the market hasnt been kind to late shorters trying to short weakness. there are many examples of the market looking like a perfect short in both indexes and stocks and it did a complete reversal. if you want to short this market you have to be quick on you feet and take profits fast. maybe this time will be different but too soon to tell right now.
 
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