IN THE EVENT OF A BOUNCE
It wouldn't be unusual to see the market test the bears over the next day or two. Since I don't want to turn into a daytrader, I am willing to sit through some upside volatility in an effort to capture a larger gain on my current short positions. I don't want to become the current generation of trader who thinks he or she has to capture every micro move in the market. It's a long-term losing proposition.
I will be looking to initiate a short position in financials if we do bounce. Most likely in the form of FAZ.
Unless mentioned otherwise, the positions I initiate (long or short) have an intended holding period of anywhere between one week to one month.
