This is getting more ridiculous than the Amanda Knox trial and similarly, the murder weapon has not yet been found. Perhaps I should cry in front of the bears in an effort to be acquitted, but I only manipulate through my prices - not that they're working at the moment.
I have yet to catch a falling knife, but have been hurt numerous times in my attempts already with the knife cutting deeper and deeper.
Yet, the more I look at VIX, the more conviction I feel that the selling is overdone, but no one seems to agree with me. VIX formed a double top on the daily chart today, hitting 45 twice before trying for a third time and managing only slightly above 44.50. Look at these charts and notice how S&P ended with a final stab designed to kill, but volatility unable to match that sense of vengeance - or have I got it mixed up?
My JRCC foray was unsuccessful and embarrassing to say the least, though as I've reiterated numerous times, I'm ready to buy in full force if it should ever hit $0.99.
I must admit how difficult it is to go through this period and although I've been through it before following Lehman, deep within my chart, I know this is not supposed to be how a successful trader trades. Yet, bad habits are difficult to break and the formula I used to average in back then (i.e. 50% Fib or below) could still be applicable.
Thoughts of 'maybe I wasn't meant to be a trader' are crossing my mind, but I've been trying for so long that I'm convinced it should pay off soon. Perhaps this sense of entitlement is what I've got in common with the Wall Street protesters.
-7.98% SBA
-4.21% Roth IRA
-2.36% DJIA
-3.29% Nasdaq
-2.85% S&P
Still, the bears are somewhat defying logic here. Even the GOLs closed FTSE with just -1.03% on any lingering European fears - and we had better than expected ISM Manufacturing as well as pretty good auto sales. Good news is just being shrugged off - or do the bears have ear plugs and blinders on? I can't imagine they would have their glasses on...
Better dash before my jokes get older than my prices!
No comments:
Post a Comment