Why have I been giving Tim Knight such a hard time lately?
It really is sort of a serious question.
I think he tends to jump in and out of index positions (in his case options and futures) in a way that I can't see myself doing.
In his great blog (highly recommended) www.slopeofhope.com he now writes that he is starting to go short again.
I think he is gambling on the basis of his fib levels, and little else...perhaps the thrill of the chase, also.
I, on the other hand, believe it is premature to jump into bear funds right now because I have no proof at all that the rally is over. In fact it seems to me that this present rally could last at least a week or so, and fading here is just a recipe for premature baldness.
But that's my opinion. Let's see what happens.
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