オニール: 天井ではなく、正しいタイミングを狙え
Calling a top means positioning against a trend that is still intact and hoping it ends soon. That is a different activity from waiting until the…
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Story Category: short-selling
リバモア: 買い戻さなければならないポジション
A long position has a natural exit: you sell into whatever demand exists, and the worst case is bounded. A short has a mandatory one, because the…
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ギル・モラレス: 強さを生んだ性質が、そのまま脆さになる
A leader’s advance runs on concentrated demand and expectations set well ahead of reported results. That is precisely why it can travel so far so…
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オニール: 「割高」は空売りの根拠にならない
Valuation describes a level; the short side requires timing. Nothing obliges an expensive stock to converge on your estimate of fair, and demand can…
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リバモア: 正しいことと、報われることは違う
Livermore separates two things traders routinely merge. The read was correct and the instrument was appropriate; the execution undid both, because he…
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