No. of Recommendations: 4
Anecdotally, this fits with what I've seen this week.
I've given back a huge fraction of my mid-hold profits on shorts.
But, one of my rules of thumb is that it never pays to sell on a panic,
and probably the reverse is true for short screens, never to cover
during a panicky upswing. A lot of the positions I have are in screens
that are intended for longer holds, so I hope/expect that some of the
zooming we've seen in the last couple of days will be dead-cattish.
It's hard to imagine much of a lasting upswing in airline stocks, for example.

My calculations showed the bottom was likely to be mid-day Tuesday,
but I am reasonably happy I didn't follow it too fully---I'm happy
with the protection a few short postitions give me, since timing
signals aren't always right. Especially mine.

Jim
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