Lzzrdking:
Even though the market had another up day, I MUST disagree with you on where the Market is headed. I see a re-test of 1625 very soon. The big rallies where sparked by Asian rally early in the month and fund managers buying on fresh money they got from 401K, the nice earnings also helped things along.
However, looking at today's trading, I see some weakness showing up, and I'm expecting the end of this week and next week profit taking days. Dont be surprised if we lose 50 - 60 points next week. With earning season mostly over, nothing is there to lift the market if the Asian market tanks majorly. And dont forget Saddam. While I agree with you, we should always balance longs with shorts, I am still 30/70 on long/short ratio, so far my portfolio is up 15% this past week thanks to my shorts and longs.
I usually reverse my positions when things look the rosiest/worst, and I think this is the time, when everyone is expecting bullishness to continue, they will wake up with another big surprise in their face.
I'm not exactly sure what stocks Mark shorted, but I would only short stocks with great hype and volatility, maybe that's why I'm up on my shorts in this bull market.
Regards |
