LiveCharts: Don't Jump The Gun
February 20, 2013 - 3:19pm
Ignore the contrarian within, but don't be afraid to hedge
People label themselves as a contrarian as if it is some kind of badge of honr that makes them stick out from the crowd. Honestly, I wear profitability as a badge of honor, and I'm going to trade what ever it is and what ever it takes to remain so. WHle the urge is to try and take advantage of today's downswing, I don't see the need to do so on the broader market charts.
I do see the VIX breaking 10% higher, which gives the bulls pause, but we are still trading above the 10-day moving average on a consistent basis, so until that changes, what need is there to really get heavily bearish.
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