No, because if the market is up 50% because we humanity has discovered an immortality serum, nobody is panicking.
There's no downside in great news (other than the possibility of a quick reversal thereafer...)
There's no downside in great news (other than the possibility of a quick reversal thereafer...)
It's pretty symmetrical. Choosing not to buy is not as easy as it looks, when you are under pressure to do so. Madoff took advantage of this. The crash of 1929 was preceded by unhinged buying.
Even better: the percentage split between long and short holders isn't 50%/50%