It is just way too easy for the financial shortsellers.
How cool is it to be bearish these days? It’s too cool. Too easy.
The problem is, sometimes the easy trade is right. As Americans, we are just used to having the easy crowded trade to the upside. For decades, every dip and bear market was bought and bought hard. If it was not an easy Fed, it was global growth, an internet bubble, a housing bubble, mutual fund growth etc… that would bail us out. There seems to be no silver bullet.
Today, there was a serious amount of selling AGAIN in the basic materials. The global economy is truly imploding if you truly believe in price following ads I do.
I was talking to UpsideTrader today and it truly is kaputsville in the stock market. At some level, the market will find a bottom, but we don’t feel close. Even if we are close, I believe it is a waste of time and energy to do anything with your hard earned money than to invest in yourself. I am scalping some trades in the jetsream of a few hot traders on Stocktwits, but most of my time is being spent building businesses. I have anxiety over missing one of the great trends of all time (down), but I am a bull market baby and am happy to mostly be watching and cheering on the winners.
Upside has absolutely nailed the short trade day after day and week after week the last year at least and that is just day trading. He is taking ZERO overnight risk. It’s right there on StockTwits. Brian at Alphatrends as well. Actually there are a few hundred guys just nailing the short side and documenting it. The best part is we are proving in real time how many different ways there are to make profits in the stock market and how opportunity is relentless if you keep an open mind.
I am very happy that we have a system for finding the Upside’s of the world over at Stocktwits . It’s a farm system that we can ALL harvest. The recommended list is still young and in the making, but it will shortly explode with leaders in different strategies and timeframes. There are only four of us digesting the flow right now so we are working non stop digesting the feedback.
With respect to the markets, eventually something will change and buyers will emerge and the relentless selling/short selling will subside. At market tops, it feels like nobody will ever sell. It’s just funner :) .
If you don’t invest for a living, you are missing NOTHING right now…other than history. I have to admit, it’s like a traffic accident. I am not proud to be watching it, but I can’t take my eyes of it.