7 replies to this topic

[Darris]

Sentiment Poll for the Week of Nov. 17, 2003

[calb]

how about this Short hedged with sector plays Plan to buy weakness plan to short strength

[TechSkeptic]

How about "plan to reduce longs on strength" (which I've started doing already by tightening stops and exercising some employee options).

[U.F.O.]

I'm reading a chorus of "reduce longs on strength" and "get out on the next rise" comments on the board tonight. In general I'm fairly non-prejudiced on market direction as long as I can catch the IT and don't believe in baiting traders going my opposite. I'll go short a market (short currently) just as fast as I'll go long so please don't interpret this as a "this" to anyone looking for a move higher here. I do believe, however, that if current psychology is changing to a more widespread "sell strength" profile, the market probably won't give anyone an opportunity to accomplish that objective.

ufo

[blustar]

My work says it will, ufo. Better to not fade the FF too often. I learned that early. blu

[Darris]

Sentiment Poll for the Week of Nov. 17, 2003

[U.F.O.]

Can't see how it's a fade blustar.

If you look above you'll see the positioned longs and shorts almost exactly equal. If you have any position right now you're fading someone on FF, aren't you? I know your EW work calls for possible new highs before a major pullback.....could happen. The difference in what you do and what I do is you try to predict the future, in general I react to the present. If I can react quickly enough I'm on trend and make money. Since I don't have to spend countless hours hunched over my crystal ball trying to devine the future, I have the liberty and time to practice these reactive skills and you know something.....it works more often than not. Also, since I'm reacting to documented history I don't have to argue with anyone who doesn't agree with my clairvoyant skills or change my predictions 4 times a week as new data becomes available. To each his own. Whatever floats our respective boats. My work tells me that I got short Monday afternoon via a 2x leveraged fund that has a profit in it right now. How's your work performing up to Friday's close?

ufo

[Darris]

Sentiment Poll for the Week of Nov. 17, 2003