I'm adding to shorts...

Quote from Mecro:

I'm not leaning toward either side but I just do not understand how all these shorts plan to cover their positions.
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Then maybe we should be leaning towards going Long. They gotta cover sooner or later.

-Fast
 
C'mon Mecro, admit that you are leaning long. Come clean! It feels good. :-) I actually lost some money today anyway, I got the shake and bake in $/Yen with the intervention overnight. Overall a decent defensive day for me, however a bit into the red.
 
Quote from trade-ya1:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=27641
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hey trade-ya!,

Good one. I was short yesterday too but I covered at the close since I don't do overnites. Then at 12:26pm I shorted but the market wasn't' going anywhere so I covered. Then the Fed announcement came and all of hell broke loose!!

I kept sending limit orders and weren't getting filled. So I bit the bullet (no pun intended) and shorted the hell out of YMs, NQs,etc.

Then I reversed and went long near the bottom and closed out.

Also, went long a liltte 10yr not but got out.


I wished there were more days like today!

misc
 
Sounds like you had a great day! I'm betting most heavily on a rise in short-term Japanese Interest rates- Euroyen Futures. Hopefully, that move is yet to come tonight!
 
Quote from trade-ya1:

C'mon Mecro, admit that you are leaning long. Come clean! It feels good. :-) I actually lost some money today anyway, I got the shake and bake in $/Yen with the intervention overnight. Overall a decent defensive day for me, however a bit into the red.
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My best trades are shorts, just so you know. But I'm not a moron who keeps forcing shorts onto a market that goes up. Especially when every other idiot wants to short the market as well. Hence most of my trades are longs.

And like I said, I'm not leaning either long or short. Does that really require any more explanation? If it does, you should not be trading.
 
Quote from trade-ya1:

C'mon Mecro, admit that you are leaning long. Come clean! It feels good. :-) I actually lost some money today anyway, I got the shake and bake in $/Yen with the intervention overnight. Overall a decent defensive day for me, however a bit into the red.
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I caught that huge spike in USDYEN! I shorted yen and was like up 18pips in like 30sec! hehe

damn that was sweet!
 
A slightly off-topic question. I wasn't trading (or watching the markets) in the months coming up to the top in 2000, but I hear that no one dared short/call the top. So, when it came, it just cascaded. Here's what I'm getting at, since then (in this bull market), everyone remembers what happened in 2000 and so are very wary of the rallies; as a result they call tops/build short positions in a healthy rally. Could this be contributing to the length of this bull market (pleany of people shorting/trying to catch a top and then covering after taking a hit)? If this is the case, what's to keep us from continuing up?
 
Quote from Mecro:

What?
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I think he's referring to your attitude, which comes off as negative. Why call everyone shorting a moron? Were you long ES when the fed announced?

-Fast
 
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