Posted by hamvestor on 8th of Jun 2009 at 11:09 pm
"But everyone is so convinced that the S&P goes a lot higher
and makes it easy to get out and get short..."
That's interesting, because I get exactly the opposite
impression, that most traders, commentators, etc. (and this blog
included) are fully expecting the markets to start the next big leg
down, and to test or exceed the March lows. I think the contrarian
play these days is to position for an extended rally, albeit with
some scary pullbacks along the way to keep the shorts interested.
I'm not saying it will actually unfold that way, but it
doesseem like the contrarian play now.
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"But everyone is so convinced
the Wave count
Posted by hamvestor on 8th of Jun 2009 at 11:09 pm
"But everyone is so convinced that the S&P goes a lot higher and makes it easy to get out and get short..."
That's interesting, because I get exactly the opposite impression, that most traders, commentators, etc. (and this blog included) are fully expecting the markets to start the next big leg down, and to test or exceed the March lows. I think the contrarian play these days is to position for an extended rally, albeit with some scary pullbacks along the way to keep the shorts interested. I'm not saying it will actually unfold that way, but it doesseem like the contrarian play now.