Are bears afraid of bulls?
Why yes I am. However the higher this market goes the greater fall it will eventually take.
To ensure I have the purchasing power to "add" to my positions when the market feels topish, I need to start covering risky shorts, and sell some of my lottery tickets to reduce risk.
NOTE: I am keeping some positions on all shorts and lottery tickets, just reducing size. My sizes are probably too high for the risk right now. At this point, I would rather miss opportunity than get forced out of positions by a short squeeze.
SPX 1050 is the target, and I don't believe we will see it. But then again, I thought after hitting 200 DMA the market would pullback.
All the blog entries on shorts and lottery tickets are still my longer term plan, but re-positioning to minimize the risk. Gold miners are doing great, since that is about 1/3rd of my position, helping offset any short risk I have. Gold target is 1000 to 1325 an ounce, which should rocket all gold miners up.