I decided to cover my short because it's too easy for a rally back .
When you short you have to hit and run. Then wait to hit and run again.
You don't want to call a 1% market drop then give back the profit on a market bounce.
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now that you have covered, you have given your permission for the market to rally in the power hour! :)
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What do you think on taking calls on UVXY when trying to short the market?
That's right. I successfully shorted yesterday and today, although I didn't get major gains, but I'm expecting a rally tomorrow. Probably down again on Friday. So I'll take a cash position going into the weekend.
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Market is in a downward trend the last 12 days, but does give fake bounces every 2-3 days. I sold off all of my shorts 🩳 too. Was going to hold, but followed you.
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