This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Thursday, October 12, 2006
The Dow was up 95 points on good volume. Advance/declines were over 3 to 1 positive. I lost on the puts again and got stopped out. It was a dumb trade. I already knew it yesterday. It was a trade for the sake of trading. It lost about 35%. I guess I need to step back and take a break. I haven't had a winning trade in months. It's as if I'm starting out all over again. Last years good profits are like they never happened. I'm in a bad way. Nothing I'm doing is working and I am either wrong or missing something. This market is on a momentum feed and nothing will stop it at this point. The money just keeps going in on the upside. I've seen it before but I did not expect it now. There is nothing to do but watch and wait at this point. Gold was up a few bucks and the XAU rose over 3 points. I'd like to get some ABX calls but may have missed out here too. I was also thinking about some GE puts with the earnings coming out tomorrow. But when I'm in such a funk as I am now, it's probably better if I just sit it out. Mentally I'm in a bad way. I'm losing money, have had my worst month ever and don't have a clue. It's not a good place to be. I must somehow persevere in this negative environment. I have got to somehow snap out of it. We'll see what happens...
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