Be careful Nickoo, shorting stocks is a difficult game when you first start. My first effort in 1997 lost me $40000.
These days I find it fairly easy to make money on shorts (8 successful BHP shorts last financial year with 4 making over 80%) - but it takes practice and analysis. Downruns are full of short covering rallies designed specifically to take money away from eager shorters.
Basically you are right about the market, but if you are using derivatives, you should really get out on any big down day (like Monday ought to be). I will be clearing my Dow shorts, anyway.
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