So far as "the Pros" being "caught with their pants down in 2008-2009", that simple trade on IWM by the (8,55) EMA crossover gained about 15% during those 2 years, whereas IWM was down about the same amount during that period. Those results do not include trading costs, but there are only 11 trades, so on a $20,000 account the total cost is about .5%, depending on what discount broker you use.I don't know what (or if) "the Pros" were thinking.maybe depends on your def. of 'Pro' ..i still had an account at a full-serve borker that my Mom had left me.most of it in managed funds..if by 'Pro', one means the fund managers ,i don't know what they were thinking .if 'Pro' is full-on brokers -- they were thinking it was a 'minor correction'.i think every week it would go down, i call and ask, "should we sell?""O no. we've hit bottom"( i'm less 'mechanical' and more 'seat of the pants' ..but agree with you about Timing )
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