Why I'm Holding Fast

a defense of intransigence

No one ever went broke taking a profit, right? Yeah, I guess. It's tempting, particularly during these times with the VIX is bouncing around in the 30s and even 40s, when so recently getting the VIX even into the high teens was cause for celebration. However, with the exception of covering big positions in DIA and EFA half an hour before Wednesday's close, I stayed put with 34 - - count 'em, 34 - - bearish positions, even though we all have to live in terror that we'll wake up to some announcement about something or another.

But you want to know something? Every single "event" over the past few weeks that was supposed to spell the doom for bears, up to and including this weekend's big news about "exceptions" for China - - has turned out to be nothing more than a Nothing Burger with cheese on it. Nada. Zilch. Bupkis. Thus................my mountain of short positions holds firm, based on the fact that the major index charts below are, forgive me, absolutely screaming at the top of their lungs that the drop has only just begun.