If you can predict that it has been a copycat bear market from April this year to now, you can completely take a short position and rest. The problem is that you cannot predict the future. You cannot predict whether each panic low point will still fall below or whether it is a medium- and long-term low point.

Here comes the point. Although we cannot know whether each panic low point is an absolute low point, and whether it will continue to reach a new low later, there is a rebound after each panic. In other words, there is a probability advantage after a panic.

In this market, the only way to make money is to buy after a sharp drop and sell after a rebound. In other words: buy in panic and sell when it rises.

This is an ideal, which is very against human nature. If you don’t have this ability to defy nature, don’t even think about it, just keep your position short. When the market is not good, the best strategy is to not toss.