John said <Christmas might come early if shorts decide to cover headed into the holiday, if I was holding shorts or puts after this latest spectacular fall, I wouldn't hesitate to be locking in profits if a major down doesn't materialize tomorrow morn...> good point,and one i am wrestling with,but this is why i just wish the "dippy-dos:)" would just catch on,and stand back and let capitulation happen,tomorrow and friday,and get it over with:reason being,as long as they rush in for "techinical bounces" the longer they prolong the inevitable,and that is this market must go down further to recommence a new bull wave,imo.
The bear can not rest and go into hibernation until stocks have become TRULY undervalued,and i strongly feel we are not there,as too many have not come to realize just how massively inflated this Bubble had become,and keep trying to restart the Bull too early.
But yes,i may be forced to close my put positions as they are all on stocks with huge short positions--MSTR FFIV and AMZN,and if the shorts choose to cover for the holidays they will have an "undeserved" surge,for sure.
that one move in the ^VIX,the move to 41,on your chart,even though just to 41,has a spike look(i guess it's those lenghty bodies and shadow "thingees" that show that--i am not good at candlesticks,but slowly learning:) good luck,max |
