ABSTRACT

The market has, in addition to occasional pleasures, an intense frustration for technical analysts and investment advisors. Try as they might, they cannot, for the most part, convince their clients that selling short is a necessity in the markets. This may be because of the evidently universal human opinion that up is better than down, or it may be due to medieval superstition, but the ability to think in terms of being long or short is a bright line between professional, effective investors and those who are less successful, or failures.