The mind set of some just amazes me. Just because one is looking for a pullback/correction does not necessarily mean they are going short. Normally when I am considering going short I will specifically indicate that.
Right now the SPX is still in the beginning stages of a Bull market. However, this SPX Daily Phase 2 is getting to record breaking stages. So my current strategy is to take profits on my long positions, if I sell off all my long positions, I then will establish a short position using SPXU. But I doubt I am going to get to that point.
Once the Daily Phase 1 starts I will be looking to rebuy the long positions that I have recently sold, for the next leg up.
There are alot of traders that have tunnel vision. What I mean here is they are stuck in one or two timeframes normally the 60 min/Daily area.
Yes the trend is up for the long term. However for the 60 min the trend is down, for the Daily, Weekly & Monthly it is up.
Beware of those that speak half truths. What I mean is they assume that you are calling for a pullback so you must be going short. Also trying to lump all time frames into one trend. What they are trying to do is discredit others but they are not being very truthful and those that follow there advice without doing there own research will get hurt. I can tell you that from experience. I have a QID position that went from 500 shares to 100 shares because some E-Wave person that claimed to be an expert said the SPX was going to 600 and below. That was a big lessons learned for me.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
