The market is too high, so I am going to go short. It has to go back down.
I don’t need a stop loss because I know I am right.
Hmmm…it went higher? That is just crazy! Now it is wayyyy too expensive. I will short more, because it has to go down soon.
See, it stopped going higher! I am right!
Well, even though it turned around and started going higher, these are the just the suckers rushing in. Once they stop buying, it will go down.
Today it went through all-time highs. This is resistance, it can’t go any higher!
Wow, a gap up. Now this is just ridiculous! I need to be patient and it will come back down. I can’t buy to cover now and lock in these paper losses.
Margin call? I will add some money to my account. The sell-off will be here soon.
Okay I surrender! I can’t take any more of this pain. I will buy to cover my shorts.
What? It has just been a day! How can it be reversing, and falling to a support level on a correction??
