I should have noted earlier in this thread that I currently do NOT have a single dime of my portfolio short any stock or stock index.
I’m noting this to ensure nobody gets impression from this Prechter thread that I’m heavily short this stock market.
I did short the market in April as the S&P500 neared 1200, and I did make money when I closed that position in May (prematurely).
Market days like today are exactly the reason I liquidated that short position. There are still too many people expecting markets to crash or head south NOW, even after markets had fallen 20% (off the April highs). I agree that Prechter showing up in the NYT is a contrarian indicator.
I’m on the sidelines waiting for another little bear market fool’s rally to squeeze the shorts out of the market, and lower the prices on put options (on the indexes) that I want to (re-)buy. When that happens I’ll go short again, because generally I believe Prechter’s predictions for a depression-style stock market crash.
