I Just Shorted $BEAR

Here we are, record levels for the DJIA, a stones throw away from record levels on the S&P 500, a resilient stock market that has gone nothing but up over the last 5+ years, and yet everyone is bearish. Nervous nellies, hedge funds, talking heads, everyone seems to think this market is heading lower.

I love it.   I enjoy the negativity. I enjoy taking the other side of the trade.  Its amazing how many technical analysts are out there ready to show you where the market is headed through their infinite wisdom.  $BEAR

My question: how can you be shorting this chart?  $BEAR



Without any type of significant reversal pattern, this chart remains exceedingly bullish. Oh yeah,  its May 1st.  "Sell in May?".  Oh yeah, Russia is about to declare war.  Where has Cyprus, Egypt, Syria gone?

When the market turns decidedly south, I will be more than happy to be short... but right here... right now?  $BEAR

I continue to question the bears from 2009, the ones who are still around after shorting stocks every month for the last 5 years.  The ones who are up big since the lows. The ones who each week put up a different chart depicting impending carnage and yet miraculously emerge the next day unscathed. I s everyone really that $DUMB?  Any stock market bear since the 2009 lows is dead.... at least the ones trading with real money.  $BEAR.

I hate everything the central banks are doing.  I hate that honest hardworking savers are getting the shaft.  I hate how the rich are getting obscenely rich while everyone else is just scraping to get by.   I am also happy I've been saying go long this market as its rallied to fresh highs, not telling you to sell each month since the March 2009 lows.

Until this market finally puts in a top, I am short the $BEAR ETF.

Here is one of my posts from over two years ago   https://www.optionmillionaires.com/qe-to-infinity-and-beyond/


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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