Bears Win Again: That's Why You Stay Short
This market wants to drop. After a fun open, bulls tried to save the day with brazen buying all afternoon. However, faced with the possibility of crushing losses holding through this catastrophic weekend, the bulls turned chicken and dumped 200 dow points in the closing 10 minutes. This is a bear market, the only people who buy these rallies are day traders and suckers (often times one and the same.) There are no values when stocks are consistently getting cheaper. The only two ways to play this market: cash and go short and hold short. I'm taking the later approach.