If I have to choose a direction to lose money, I’d rather go long!
After waking up this morning,
I initially saw the market rebound a little,
and it still looked weak,
so I ended up shorting a few positions in line with that.
But when I woke up and checked again,
I closed all my short positions and switched to longs. The reasons are as follows:
1. The conference has already ended, and everyone now has time to provide liquidity to the market.
2. I saw several big V accounts all calling for a long.
3. The technical setup has already dropped too much; even though the short-term downtrend is clear, a rebound can’t possibly be only this small.
4. There may be opportunities to short later this afternoon, but if I have to choose a direction to lose money right now, I choose to go long.
After waking up this morning,
I initially saw the market rebound a little,
and it still looked weak,
so I ended up shorting a few positions in line with that.
But when I woke up and checked again,
I closed all my short positions and switched to longs. The reasons are as follows:
1. The conference has already ended, and everyone now has time to provide liquidity to the market.
2. I saw several big V accounts all calling for a long.
3. The technical setup has already dropped too much; even though the short-term downtrend is clear, a rebound can’t possibly be only this small.
4. There may be opportunities to short later this afternoon, but if I have to choose a direction to lose money right now, I choose to go long.