Are you Short or Long?
Are you guys long or short right now? I am short because I feel the market needs a correction, if it weren't for all the of the gov money that is coming in due to QE2 it would have already happened. Anybody can see that the market is not reacting to news like it should. Last week all of the numbers that came out were negative but yet the market was up nearly 3%. I am banking on a 10% correction in the next 5-6 months. I have calls on SPXU (3x short) and am selling puts.
That's a dangerous game bro, those 3x levered ETFs have a lot of tracking error.
Judging from the title I thought this thread was going in a pretty different direction.
long to the moon till the printing presses stop!
I'm very long, but only in certain sectors.
I'm 6'4 and everyone I meet...most of the time....is short.
im long. the world nearly ended and the S&P didnt even come off ten points
well said my friend
The OP needs to look up volatility drag.
I think the smartest insurance is calendar spreads via puts. Short near-dated SPY puts and buy SPY puts expiring in the second half of the year.
The market will fall once QE2 ends, ESPECIALLY if oil prices are still high.
I'm long.. Junior resource stocks are my thing :)
''The power behind the coming Mania phase in metals could drive these stocks like the contents of Hoover Dam trying to fit through a garden hose.'' - Doug Casey
Market is overvalued in almost any way you look at it. I have no idea how you could argue otherwise. That being said, I have no idea what the market is going to do next week or month or year, so I would never just short the market. With the government printing press, they could easily just push it higher.
But while I'm not short the market, I'm being incredibly stringent in my own portfolio selections (it has to be dirt cheap). And when I have purchased something, they've all been event driven or unrelated to the market. Currently have three stocks and bunch of cash.
The way things are looking with the commitment of trader report this past week I may have to go short commodities in the short term. If everyone is long who else is left to buy?
long and thick.
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