iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,162 Blog Posts

Classic Reversal: BE CAREFUL SHORTING HERE

To be honest, I had a few drinks last night and am out of the loop this morning. I sold everything and am 100% cash in my trading, having booked small losses and surprisingly one of them was in SOXS. I was certain NVDA would stay down, but it looks like a classic red to green reversal. I’d be very uneasy staying short after a bellwether like that started to go up in the face of bad news.

I’ll get my house in order here and try to give a better assessment later on. My initial instinct is to first cash up and avoid shorting.

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