I don't think I ever said anything is wrong with such a strategy, it is one that should be used at major reversal (like a run for the hills call), here we may a one or two days bounce any day, and after that bounce, sure this strategy could work. Personally, it is no fun, so I am not doing it. I always like to have cash to commit for unique opportunities, when these are presented. I also do not like to play booth sides of the equation (short and long) since when I am wrong I am doubly wrong, thus my preference to change my cash position in front of major directional changes.
Zeev
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