However, I am still going to contuinue using shorts as opposed to longs. I'm just not comfortable with longs now.
oh, i agree. just long with the miners, but - at least initially - i want to play the indices, or find some confirmation of a downturn before going short individual stocks. not being able to get qqq shares to short the other day, though, does have me a bit concerned. for ndx, that pretty much leaves me with options or rydex, and for rydex to make sense, we're going to need to see a significant correction of a couple days. although, if that's to happen, then rydex makes alot of sense ...
Things will eventually break out in a big way up or down.
up, if you listen to kramer and kudlow :-) there's a confluence of a couple things here that is making me more confident about taking a short position soon. first was onieschka's targets; his ewaves have been the most reliable during this rally, predicting up when everyone else was predicting tops. his last analysis saw 1340 as a top with possible extension to 1370 (ndx). and since he's the only one who was able to predict this congestion on ndx around 1370, and the weakness in the ndx (relative to the compx), i'll give that some credence. fleck is another good sign; he said "not yet" for so long, and now he's going short, although still cautiously.
Difficult to see how this can have a happy ending.
indeed. irresponsibility at the fed. irresponsibility in congress and in the white house.
> Just as a simple example, how can PD make romex electrical
> cable less expensively when copper prices are up 22% over
> last year?
hmm. increase investment in copper miners and reduce production costs. although i would think that if the china bubble bursts, those could come down, since (as i read in doug noland's column) china's copper imports have risen 25%.
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