This miserable market—what if a bunch of people start shorting now, and then tomorrow it rallies 100 points to hit 3100? So remember, never go all-in.

You’ve already seen that V-shaped reversal not long ago, and being able to witness it firsthand in the market, outside of courses or textbooks, is a very valuable experience.

So anything is possible in the market. All I do is predict which probability is higher and which is lower, and then adopt a conservative strategy accordingly.