Tuesday, November 4, 2008
Market,Schmarket
Will someone please tell me how in the hell a man is supposed to make any friggin' money with a stock market like the one we have.Is EVERYONE a trader now? And what about all the hedge redemptions?Big Bucks suckers pulling money in and out.I should have seen this coming and I overestimated the greed factor.The market reset prior to the election makes sense, but the election impact wont be felt for months.If we have a small bull run, probably tempered with tax loss selling, I can see another big collapse after the new president is sworn in.Build posistion and liquidate.Come on TV and say,"its the economy.its the world slowdown.its hard rain".Whatever.I shouldnt complain much, Im doing good compared to 85% of folks except for my options posistions.My options got crushed.No surprise there either.Im coming back a bit, the only thing that helps is a January expiration.Trillions of dollars of assets, just disappeared.I think wallstreet sometimes cuts its own throat when its not trading on what matters.Employment,low debt,big margins,share buybacks,earnings.If the traders always did that then we'd have a great bull market again.The problem shouldnt be confused with the knowledge.GOOD traders dont predict market direction, they play volatility.I play volatility, but heres the problem..again.The market is moving irrationaly.Emotion and SUPERRICH morons knee jerking thier money everytime Warren Buffet farts makes the market go up and down right now.Thats stupid.And I hate it, but I will defeat them.I was smart and held an average 33% cash ratio.I still havent gone to market much yet.I think Ill make some moves after the President is sworn in.I think before the end of the year, or maybe the first week of January, we retest 8500 on the Dow.Maybe lower than that, maybe 78/7900.I need to study it more closely.Ive been so disgusted with it,I have spent the last 5 weeks looking away like I was seated next to a slobbering dimentia vicitim or a "skin graft on my face" guy. On an unrelated subject, who thinks the Pistons trade for Alan Iverson was crap? I do.
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