Saturday, February 21, 2009

Don't get me wrong again.

We have not seen the bottom. We have not even approached the bottom. In my opinion, we are 100s of S&P points away from the bottom that may lead to a cyclical bull market. You know my target for S&P500: 400-450: Almost 50% from here.

But in trading, you have to capitalize on the moves that are highly probable, that is why I got out of the shorts at 755. I will continue to trade this market on the bear side.
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