Thursday, February 04, 2010

Good shorting today.

The markets had some nice selling today without much up action so I decided to peruse some financial websites (usually good for comedy anyway)

Check out some headlines from today:

investors worried

"Fears of 'Lehman-style' tsunami as crisis hits

Stocks nosedived

brutal selloff

In the final, hair-raising minute of trading

investors sold on fears of financial contagion

Stocks buckled

unemployment benefits jumped unexpectedly

with commodities reeling

Stock market plunges

ROFLMAO

Why doesn’t the media cheer on us shortsellers like they do when the markets are climbing? Maybe they don’t like reality.

For the last two weeks I’ve been saying to get prepared Fear & Greed Day Trader: How to trade in a wild, pile driving market.part2

As I look back at the two weeks of charts, there has been many more opportunities on the short side. When you are prepared to trade in times like these, the money will fly into your account like you’ve never experienced before.
My new lows/highs indicator today.

Sea of red from 8 on Vimeo.

3 comments:

E-Mini Player said...

Scott, that does not look like a CRT monitor my friend :D

bluecollartrader said...

I've come to ignore the mass media on matters of finance. Monday-morning quarterbacks and a bunch of "Chicken Little's"
What's reliable? Real traders opinions: here, other blogs,and yes, a few traders on CNBC who stand out among their peers just humping their own portfolios.

Scott said...

My hernia would argue otherwise.