No, we did not take a short position ahead of expected weakness Monday. But that in and of itself is a critical discussion every pari-mutuel investor needs to have (in advance) with themselves.
To state Friday’s problem, do you take a short position when the market has not – yet – hit it’s likely “ideal shorting” point?
Sometimes – in fact most times – when it comes to wagering (hiding in “investment clothing” we need to make such judgments and stick to them.
I have found being pragmatic about my wagers pays considerably better than playing the “hunches.”
The background news helps drive, so let’s start with that. Because in our work, present conditions hint at possibly one final blip up before Wave 3 spreads its wings and the swan dive follows.