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My intent – plainly expressed last week – to use this week as an opportunity to get serious about my short positions has begun. I have, until today, been quite light on the short side. I am in awe of how weak-willed people have become in the face of market strength, but we're all responsible for our own trading, aren't we?
The volume in SRS is hard to ignore. This ETF has been absolutely pummeled, having lost nearly 97% of its value from the peak. But a series of four higher lows recently makes it intriguing. I've purchased a modest block of it.
I thoughtful Sloper sent me this thought-provoking quote from Shakespeare:
"There is a tide in the affairs of men. which, taken at the flood, leads on to fortune; omitted, all the voyage of their life Is bound in shallows and in miseries. On such a full sea are we now afloat, and we must take the current when it serves, or lose our ventures."