Short and nervous tuesday AM...

B

bungrider

Anyone else a bit nervous about being short??

I was short and covered at a small profit. There's something weird going on. I'm afraid a story about Saddam and the psycho kids getting run over by a tank will come out...

Anyone else have a take on this???

Thanks!
 
I am also afraid to caught with my pants down SHORT!
Riskier to be short until Saddam is cooked in a Pita on a street corner.
 
wrong....


each lost tick counts forever and can never be recovered.........your condition or position has nothing to do with it...unless you have a 100% win rate.


Michael B.
 
Quote from bungrider:

There's something weird going on.

Well, glad to see I am not alone. I had dumped some long hedges yesterday and felt real good until the news of Sadams bombing came out. Then I got to thinking why my cheap ass could not have added them back at the close.

I chased them a little today, but feel better to have them back.:)

It was rather strange though that we sold off that quick this morning and almost all the non-US indexes traded lower overnight. My best guess is we grind sideways for quite some time, baring news items which will send us up or down rather quickly.

Mac
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yeah i got a bit long around 10:20 and quickly got stopped out...

this market seems to want to go up today, but there's alot of selling coming in...

if there's a catalyst that forces the shorts to cover (would have to be a pretty good catalyst since everything seems to be going to hell with the economic numbers) we could get a nice move upwards....but i think we'll probably crawl upwards for most of the day....unless of course, it comes out that saddam is dead...
 
We get a pop if they find his body...or they surrender. Short of those, I think the war has shot it's load on this market. We could have problems if the main fighters are gone and we start getting hit by small groups of suicide bombers every other day. Seems like much more downside risk from here, especially as you say, given the economic numbers that few have been paying attention to lately.
 
Cash can be a decent position in a news driven market. Sure, money can be made - but the risk is high. Ever seen a 2 minute 100 point move on futures. (where all trades stood and were not cancelled) Nice enough if on the correct side of it - can be pretty high risk to be on wrong side of it, even with stops in place, slippage can be tremendous on mega news - mega moves.

So far, during this wartime trading we haven't seen a mega move. Hopefully we won't. IMO, every trader has a right to be nervous during these times, espescially those trading fuctures.:cool:
 
Quote from plumlazy:

Cash can be a decent position in a news driven market.

This is a good point that not a lot of people consider, myself included. I think it was "The Battle for Investment Survival" that made the point that one double can make even years sitting in cash worthwhile.
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