Well, I agree with Trader on several fronts - the market knows more than most investors, and the only way to beat it is to be a touch in front of the market's game. That's why I've started to reinstate my shorts today (with a close stop loss). I don't know if we've seen the top (I believe we have, but I could be wrong), but if we have not, and the market surges upwards, my loss should be minimal. I try to play the balance of probabilities; at the moment I see minimal upside and significant downside, so that is the way I'm playing it. I've been long all year, but now I'm short (and looking to increase).
The one thing I definately do not do is to play the 'support and resistance' game - the market knows these sensitive price points and will crucify most investors; that's why prices always 'go back for another look' after a break.
Trader
I believe those who contribute to the 'view' thread generally play the market, and in decent size. Mab, Ape, FSE, energyi and GF share their views and tend to be good sized players. You will have to take me as you find me; I used to read many of the threads on this board, but now I only contribute to the 'view' thread, enjoy a banter with pkv and have the odd poke at 'the guru'. I share my thoughts with the other 'view threaders' because they are intelligent and informed people; however convinced one might be, it is always useful to hear at least some other views. I spend more time corresponding privately with some of the contributors to stockcharts, one or two of whom are exceedingly bright and support affluent lifestyles through full time trading.
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