I remember I got the feeling of “relentless buying” every other day during the QE2 bull market. But ever since SI “confirmed” that the top was in, except for the 1 day which fooled just about everybody to become a bull, the market has been relentlessly selling without a good entry for shorting. This is the 6th down week in a row, and the 6th down day in a row!!! The odds should really favor a bounce…
The fear of the overdue market snapback prevented me from chasing the shorts. I made some paltry number of shares on TZA, QID, and SPXU yesterday just to have some exposure. But they are really insignificant.
In lieu of chasing the shorts today, I resorted to daytrading from the long side again today. Unfortunately, once again, all were stopped out.
But the real pain was inflicted on me by AONE. It broke the all time low today and is down another 10%!!! I even added at the support. I am truly sucking wind with my AONE “investment” position. My portfolio value is at a low!