I Was Wrong and Maybe Right

Tons of stuff to get ready for the fishing outing tomorrow. I have a 4 am wake up call for some smallmouth bass at the greatest body of water in Massachusetts, the Quabbin Reservoir. Brief note version below.

I Was Wrong and Maybe Right
I closed out my positions in SH (-2%) and PSQ (-1.2%) today. Minimal losses, and I had already set the exit point (S&P 500 over 1300) so it is what it is. I was wrong; I thought the market had been pricing in slower economic data as well as the problem QE 2's end would pose to cash flows into stocks. Even me, the perma bear, bear shitter, gloom and doomer, glass always half empty (a scientist says the glass's volume is .5 actualized, HA!) never spent a pixel on the Greek debt situation except in passing. I never figured the 100% sure bailout was ever worth getting scared over, certainly not a "second Lehman", geez cut it out already. This week the market recouped almost all losses since the big downturn a few weeks ago on Greek debt rollover news. Ok. I was wrong here and what can you do. When the actual traders get back next week and volume picks up, I expect the S&P to rocket to 1400 or more no doubt.

But alas, I was right about something. There was not extreme bearishness nor fear. No freaking bear or nervous manager is going to pour into a market up 3% in two days, no human one anyway. Seems I was correct on the sentiment indicators being 100% wrong. So I was wrong and right during the same week, nice!

Ok, off to tie on hooks and pack supplies, catch you all tomorrow.

Have a good night.

Wachusett Reservoir

I did actually make it out fishing today! I got a late start after waking up late and doing the grocery store run. I did not feel like loading up the Kayak and the Merrimack River is still pretty high, so I took aim at the best smallmouth bass water for fish of size in Massachusetts, The Wachusett Reservoir.

Wachusett is a large lake, and it is connected to The Quabbin Reservoir by an underground aqueduct. I found these two pictures of the monster dam at one end of Wachusett, you used to be able to fish around the dam but they do not allow anyone near that area after 9-11 anymore:

Looking at the face of the dam a ways back:

Would you want to live in the homes just below the dam!!!?? Not me.

Anyways, this reservoir is tough to fish. No boats or canoes allowed, only shore fishing. This is hard because the way the reservoir was made, the water gently slopes out as it gets deeper, but it does not get really deep until after about 100 feet away from shore. Of course all the big fish are located off the deep points way out there. You have to have equipment that can fire a lure all the way out there. Berkley Fireline helps with this.

I went to my favorite spot, gate 8, and walked the 3/4 miles path to get to the water. The local reservoir management department was doing some serious logging in the area:

Got wood?

When you go to Wachusett you are not going to catch many fish, but the ones you do catch tend to be big. Huge. I have seen 8 pound smallmouth swimming in years past. My personal best was a jaw-dropping 6 plus pounder back in 2003 I think. I have pictures, but they are actual pictures as in old school film developing! Maybe I can scan them.

Here is a picture looking out along the bank (click for larger and better view!):

The other direction, some people were fishing the big sandbar:

So how did I do? I caught one small fish (no picture) and was leaning towards packing it in. I saw some kind of mash up going on along the bank about 50 yards from where I was fishing, so I moved my butt on over there. I saw huge swirls in the water along with a bunch of minnows jumping out of the water for dear life. I knew there had to be a big boy around. I threw my black 5 inch Senko out, and as soon as it hit the water it was grabbed and taken. I reeled in the slack line and pulled back, BIG FISH!!!!

After some aerial moves and a great fight, I landed this big smallmouth bass. I would say it was 4.5 pounds, a really nice fish:

That is my small tackle box and my new SMART PHONE in the picture for some scale. It stinks taking fish pictures by yourself, but here is another shot:

So pretty.

The fish was released withing 1 minute and swam away looking all pissed. I got you! It was a good day.

Market Operations
It is homework night, and I will update later if I like anything. Greek Debt drama should be fun this week. My number one pick from last week, BKH, would have been a 4% winner if I had bought some, ugh.

Have a good night.