i agree with "trend is your friend" for sure.
however, i also am a proponent of taking trades
whenever risk:reward is merited, EVEN IF they are counter-trend.
what's wrong with taking a short position and taking a 2% loss if you're wrong? so what@!
if you go long in an uptrend, you can still lose 2% or 5%
a trade is a trade
i'm not advocating trying to pick a top...BUT i also like to sell greed
and the market is showing signs of ridiculous greed
so during this time, i'm taking both long and short positions
it works....the profits far exceed the losses
just another counter-opinion fwiw
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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