I shorted at 4600, after the ATH.
I bet on staying sideways until this whole China drama settle. If it goes over 5k in this time frame, then market is still definitely bullish.
But you know, I see a lot of posts here "we reached the bottom, it's going back up, etc..." since we reached ATH. So far, I don't see any strong market movement supporting theses allegations...
Don't over-read what people are saying... and mischaracterize folks for being overly bullish, merely because they assert that the odds for up are greater than the odds for down.
Just because some one might be suggesting that the odds are greater for up rather than down does not mean that that person is not still prepared for down.
We already had a 20% price correction from $4980 to $4k, and sure we could get additional correction below that?, but we could also go sideways and we could also go up, right?
How much are you betting on down? 100% 40%? Have you closed part of your position from $4600?
From $4600 to $4,000, you already had nearly a 14% correction, did you cash out part of of your position, or are you getting overly excited and waiting for $3800 or $3500 or lower?
One thing is coming to a conclusion that the odds for down are greater than the odds for up, but if we already experienced 20% down and we experienced 14% down after you already had shorted, then seems to me to be prudent to have closed part of that position in order to NOT be too greedy and to protect yourself in either direction, no?
#done 
