Tuesday, September 26, 2006
The Dow surged another 93 points today. Volume was good and the advance/declines were almost 2 to 1 positive. The market is just moving higher, there is no reason. The shorts, such as myself, are getting squeezed to death. I am an idiot for buying more puts today. They are already losers. The other puts I bought are so under water that nothing will save them. I have really made things difficult for myself. I will probably be banking the losses this week and then taking some time off again. There are no excuses. Perhaps I just don't have the discipline that it takes. I certainly don't have it right now. I will be sustaining some of my biggest losses ever here. There is no one to blame but myself. My whole ideas were way off. The market just keeps going higher. There are some vast divergences and yet nothing is happening to the downside. I haven't seen anything like it at this rate. The market just keeps going up. I need to get on the sidelines and watch for a while, I guess. It is not a good feeling. It sucks. I am about to go negative on the year. I broke one of the cardinal rules and risked way too much on one trade. I'm an idiot. There is nothing else to say. Gold was up a little but the XAU rose almost 4 points. Perhaps I should have looked there for a decent trade. All the talk about an extra week on the options just lulled me into a false sense of security. It was stupid. I don't know how to write about what I feel right now. I'm pretty mad also. How could I again do something so wrong? The indicators just didn't work, yet if you can't use them, what good are they? It is the most disheartening thing in the world. To put in all the time and effort. Then just watch as the money just goes away in a hurry. There is nothing else too say...
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