I just had a special 2 hour and 15 minute drive home! If that was not great enough I have to head out in an hour again! Just lovely.
What Can be Said?
It was a panic out there today on the buy side. Not much left to be said. I laid out this path in a couple posts over the past weeks, was not a huge surprise.
I got almost none of the massive rally in my trading account. I over thought things too much instead of sticking to my general ideas that I wrote out on the blog. Don't worry for me, I do have a long term account (4 times larger than trading) and I had a good summer there and caught a little of the latest and greatest rally. I am a far better longer term trader than short term, it's becoming very clear to me! I think I trade different when I choose to talk about it openly and that's something I will have to think about. Live and learn.
Anyways, markets set up now for either a repeat of last year end's epic run or some kind of collapse after a 20% move in under 30 days. Should be fun as always.
Have a good night.
3 comments:
Sounds like you had a terrible commute today. My worst one ever was 4 hours, a trip that normally took me 25 minutes on a good day. Bad snowstorm, saw 3 cars slide into the ditch, and I had to pee SO BAD. Left work at 4, didn't get home till 8. Total mood killer.
That sucks! Longest for me was about 5 hours caught in freak snowstorm in early April, cant remember year.
Hey Get - I was browsing through old "The Automatic Earth" predictions, and look what I found:
getyourselfconnected said...
Long time reader, first time poster!
I too see a BIG rally, when "mark to market" is suspended there should be one helluva ride to the upside. When playing pretend runs its course an no unicorns have been spotted on Wall Street I think things are going to get bad fast.
March 9, 2009 10:01 PM
http://theautomaticearth.blogspot.com/2009/03/march-9-2009-sucker-bears-and-grim.html
Note the date. You said that at the absolute bottom point the market had seen in 15 years (1997-2011), and right before one of the biggest run ups in all of human history.
Clearly you had the right idea (i.e. a rally), but like many, not enough conviction. Could you imagine how different your life could have been had you went long on that day? Wow...
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