not only an excellent posting Mr J, but very meaninful!
the bear waiting in the wings, not yet, not yet!
exactly the right message. amory cannot remember the exact years, but he got badly burnt on several occasions shorting too early.
the memories of (twice at least) trading into a roaring bull before going on holidays in december & coming down with a thud three days into jan! sure spoilt all the fun. a stack of Calls expired.
more recently counting on just such a thing happening I shorted after the new year & the market decided otherwise. it went from strength to strength until the ides of march finally brought about its reverse. by which time of course, my Put-options had gone the way of all flesh.
that bear of yours waiting in the wings, when will he get his cue? three days from now, or january, or march? or maybe none of these? one things's for sure: he'll come out fighting when he does.
