I'd like to tell everyone that I'm a master of trading with nerves of steel, but that just ain't so. Yesterday my nerves were plenty frazzled anyway with a lightening car trip to Albany for an unexpected funeral had occurred on one of the biggest rally days of the year in which, oh yeah, I was net short again. So Wednesday I sold the bear funds at open and went as long as possible to minimize the damage. OK...things went as planned.
But Thursday rolls around, and I'm tired, the baby's crying, the wife is yelling and I see the futures are down. Now the mature me sees this as a natural reaction to the rally, and does nothing...unfortunately the tired me panicked and sold at the open which turned out to be the very worst time of the day to do so. Then realizing my mistake I spent the rest of the day trying to rebuild my longs with limited cash available, and...oh yeah...whipping myself for being such a complete idiot. I departed from the system in panic because I was afraid, and it lost me money. I wonder if I'm ever going to be a decent and profitable trader...I've been at this for about 4 years, and I simply suck. I can't blame the market. I blame me. Maybe I don't have the iron temperment required for this job.
OK, anyway...I think we will see some upside follow through today. The Working Group and the media have decided that the market will finish in the black this year, recession be damned. I'm long the QLD, SSO, and some MVV. May God have mercy on my soul.
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