Roger, I see a top in the overall market(triple top), and am looking for the market to tank after we get through the January effect(3rd week of January)...Some may call the pattern a rectangle with the top of the rectangle at 8200 on the Dow....So if we take out 8200, I may change my mind and again go long...
Secondly, many fund managers who handle OPM, are not able to go short...That leaves me a niche, in other words, some of the best traders out there aren't doing what I am doing...The competition is not quite so fierce....
Third, I trade to win, to make the successful trade....Money is secondary...It is more of a challenge to short and win at this point, than to go long.....
Fourth, many everyday investors or traders are uncomfortable going short..Some may even feel it is un-American....Again a niche.....
I guess why I am on the internet is because trading part-time like I do from my home is quite lonely....You need input and feedback from other people....
Have a great 98, and hope I can contribute to this thread....
Regards, Mark
P.S. It takes me about 15 minutes to do an individual study on each stock I look at....I am familiar with all TA indicators, patterns, volume studies, etc....I do not do candlesticks or point and figure charting however... |
