The Contrary Contrary Trade

Today set up for a "Contrary Contrary Trade". We believe most traders bought today because they were playing a contrary position. Many pundits in the financial media were commenting on the fact that everyone is bearish and the Hindenburg Omen was on radio so now is a great time to buy stocks. I can't tell you how many said stocks are a great bargin here. Why the hard sell? (funny huh? Sometimes people are selling because it really IS bad).The fact that so many are recommending a contrary trade-it now becomes non-contrary. So we bet contrary to their recommendation and shorted the market at the close. A contrary contrary trade. Ain't Wall Street grand?!

P.S. We bet fairly large short so we will have very tight stops.