Selling Stocks Short April 14, 2008
Last week the Dow gained more than 3%, the S&P was up more than 4%, and the Nasdaq picked up almost 5%. And all that came in the context of weak economic news, the worst employment number in years, and a newly slumping dollar.
Even though the indicators are on offense, bear market rallies are sometimes the strongest and the sharpest that we see. While the talking heads are getting everyone back into the game, it’s important to realize what is really going on. In times like these, it makes sense to sit still and watch what’s going on.
Since I live and die by my indicators, I am not primarily on the long side. That said, I am still looking to short the USD/JPY (forex) on rallies.
Hang in there – we haven’t seen the bottom yet.
RAC
The Intelligent Trader
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