Why is it that many indicators show it can go up indeed. But from a pure logic perspective, it going up violently meaning going to pre corona times...which is insanely illogical.
UDAY_C_Santhakumar
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@2use, Until the trade matures enough. Its not worth making prediction. If it matures, then we can step in watch for an entry. I keep things simple like this.
UDAY_C_Santhakumar
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@2use, I am assuming this trend to break low. So piled up on a few short positions. If I am wrong, worst case I would lose 10% of my account. LOL.
But I am not too worried at this point of time. Hunting for hedge :), Man this is getting real painful to see the market chop.
A-shot
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@ucsgears, I am short 3 days now. I sold half of the stuff. I have hard times seeing legs here...or even if i do, i will try to remain calm. I literally see no valid logical reason. Only technical - money flow from stocks to funds. But things are not the same
UDAY_C_Santhakumar
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@2use, I do have a hunch that the market is going to go up and then down. I dont think we have enough pain for a rally down at this point of time. Theoritically, market tends to go in the direction that causes more pain. ;) atleast from a trading perspective.
A-shot
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@ucsgears, i actually have the same. Usual fake out and wipe of bulls in a trap. As i never time markets, i need to make my buck and be able to sit on hands. FOMO is very bad
UDAY_C_Santhakumar
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@2use, BTW, If you are interested in Short position I posted something - XOP.... Seems like the best candidate at this point of time.