I'm bearish on stocks. (shocked?) My way of trying to "profit" is by shorting stocks and other financial instruments, such as options.
Although I have been expecting a severe downturn in the stock market, today's 340+ point decline seemed....unbelievable? I am behaving like a deer in headlights, unable to short heavy into the fall.
I can't help but think people reading this blog "going long" are also a deer in headlights, unable to get out of the market hoping it rises.
That is the perfect play for the market, have the short sellers "shell shocked" and the long buyers "hoping for the best". The big money then gets to do what it wants.
My advice for people long in the market, whether 401K, mutual funds, etc is still the same.
Get out of dodge and secure your fiscal funds. As for me, I'm over leveraged down, and will continue to be reluctant on doubling up on my bets. I'll take what I can get and leave some headroom for being wrong.
My target is DOW 10,000, and it's not out of the question to hit DOW 9,000. But NOT in a straight line :).
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