Today I am feeling like a bear that's up a tree, and there is an army of bulls shaking the trunk like mad, trying to get me to fall. I've bounced down a few branches (oh, I'd say about 8 at this point) but am still hanging on. Almost all the other bears are dead on the ground. I think I can see molecool hanging on to a nearby branch, and he's not happy about life either.
Back in April, I suggested going long (yes, long) EWT – the Taiwan ETF – when it was about $7. It had a climb up above $11. I think it's a good short now, so I've sold EWT short. Not that shorting has brought me anything but heartache lately. But that's the way I read the chart right now.
