The longer-term yearly trend clearly favours going long, especially with the S&P500. This explains why traders who have made millions from going long rarely short the index. I've learnt the expensive way that the way to go is generally be either in cash or go long the stock market.
Might be time to load up on GGUS? The 1-hour S&P500 trend is still up for now. More cash destruction for BBUS holders next Monday.
Dec 26, 2018 was the huge reversal day when the bulls took control from the bears. Professional traders who were short the S&P500 took profits around Dec 26 to 27, and went long. They are flexible with their view based on what chart momentum is indicating. Strong opinions weakly held are open to all outcomes day by day.
See how Singapore pro trader Adam Khoo profited by recently going both short and then long the S&P500:
BBUS, page-47
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Last
2,958.8 |
Change
17.070(0.58%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 2,958.8 | 0.00 | 0.00 |
| SP500 (INDEXSP) Chart |
Day chart unavailable