711 replies to this topic

[lawdog]

flat; good chance of going short very soon.

[lawdog]

market getting away on the downside. took a small opening short at spx 2359.

[lawdog]

got to 15% short. no doubt this could be a stupid move, to use a certain person's favorite adjective

[lawdog]

bulls may have painted themselves into a corner. this is by no means a lock for much decline here, but those who can read the tape so to speak know this is poor action today .

[lawdog]

up to 22% short

[lawdog]

40% short. I'm liking what I see for the short side. when the bulls dive back in on a pullback but don't have much luck in advancing their cause, I want the other side of that. I have had some success with shorts during the last 3 months, but no doubt, it is risky.

[lawdog]

why has the relentless advance ended? why is Naz hit so hard? Inquiring minds want to know. I don't know if I am right on my call for a decline here, but remember, a market keeps going up until it doesn't. I'm at 40% short; have a fair amount of confidence that the market is a bit exhausted here and the path of less resistance is down. If it does go down, I hope GO gets the credit he deserves. We all enjoy a few strokes every now and then. Will post later tonight or in the a.m. after more thorough review, but initial review is encouraging to the bear case, although, as always, this may be tainted by position bias.  short looks reasonable here but you know they are going to try to shake the bears out. Maybe the near 10-point bounce from low to high this afternoon was all the bounce they could muster. I hope so; I don't want to suffer thru a 15-point spx rally tomorrow. futures are down modestly, so that means nothing right now. I would really like this call to work out. It would improve my performance and would reduce the indices' percentage gain for the year and add to mine. 30-40 spx points is all I ask.

[lawdog]

staying in there with shorts. have no idea how low it might go but it seems prudent right now

[lawdog]

a 10-point spx gap lower might get some attention from the bulls and could bring in some sellers. as Robert Shaw sang in "Jaws", "Farewell then to thee, my dear Spanish ladies . . ." just 40 points down is all I ask. world markets are struggling. weak Friday, Monday plunge? 

[lawdog]

won't chase it lower from here, but if it rallies back to -6 spx points, might increase to 50% short.