There were, obviously, no stocks that appeared in my short scan that would make good shorts in this strong market. The trend is your friend and that trend is up and has been up since August 16. Until today, we did not know for sure if the rally could hold. If today did not convince you to cover your shorts, I am not sure what will. There are a lot of good and great looking chart patterns out there. Normally, this many nice charts signal higher prices for a prolonged period of time. I wouldn’t fight the trend. Don’t try to be a hero; It is still not time to short the market on full margin. That is why I only had two semi-large short positions. Both have now failed. And both of those large positions were small compared to what I will carry when the actual bear market does come.
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