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You can see the difference between being short versus heavy cash when the market melts up like this in a V-shaped manner from a false breakdown. I am 20% long and the rest is in cash, with no interest in shorting yet. At the end of the day, I am at my best when I stay true to my style of trading the technicals and picking my spots. This has not been the kind of tape for me to get aggressive in quite some time. Hopefully, charts will firm up next week and the action will settle down, although I know I am not alone in that thought.
Back with more analysis later. Enjoy the weekend.
