Since – and I'm being my typically overly-polite self here – some people seem confused as to my attitude toward the market, allow me to explain. Again.
Short Term (Hours/Days)
- Open to the possibility of S&P getting as high as 1120
- Have opened up about 10% of intended short positions already. Vast majority of accounts in cash.
- Have a small number of long positions, and a pretty big SSO position to soften the blow if the rise continues; occasionally briefly trading ES for pops and drops. Long /ES as of this writing.
- Opportunistic day-trading ETFs when risk/reward seems heavily in my favor
Medium Term (Next Few Weeks)
- Think likelihood of trend change very strong;
- Going through all stocks in advance and preparing target entry points and stop prices;
- Intend to hang on to already-established positions and ratchet stops down as needed
Long-Term (Months/Years)
- Believe people who are planning on a new bull market are incorrect;
- Think slow, grinding bear market will continue several years;
- Believes major government policy shifts and social unrest will accompany bear market;
- Will trade infrequently once bulk of positions are in place
Got it? Good. Thank you.
