It is always difficult to trade the bearish side. Going by the emails I have got so far, it looks like some adventurous shorts and those late to the short party got gored today. Many of the emails have disbelief about the move and some curse word for Fed Chairman Bernanke. Frankly if you were not prepared for a bounce of some major magnitude then you do not know a lot about how the market behave or you are under the spell of bearish commentators.
1 comment:
I rarely trade options . My market view does not look at six month long scenario. The few thing I know about market direction are a) markets have an upward drift b) markets are mean reverting c) market always react to panic by going up d) bearish commentators are more wrong than right.
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