I'm concentrating on my breathing right now. INhale, EXhale.
I think my husband and I will spend a fortnight in Indonesia, buying batik, bronze and stone sculpture and furniture. We will snorkel, bask in the sun, and look deep into one another's eyes, because even though our account is trashed, we still have what is most important: A deep and abiding love for one another and our children, our health, and a future like a bright path to exlore and shape. I would rather starve in a teepee with that man than live in a golden palace with anyone else.
Re our portfolio: I am going to wait and see. I'd prefer to buy in on the way up than on the way down. I will keep trailing stops tight. I have fear that some of my favorite stocks will escape me. (Fear is the mind killer.*) While I don't think we will hear any analysts come right out on CNBC and declare that the slaughter is over until they have finished their buying, I think that what with taxes not being due until Monday, and a few days in the mail, and for checks to clear, some sales in favor of taxes may still be ahead. Jim Browne's criteria was to wait until advancers beat decliners by two to one? With the Naz below the 200 dma, and many stocks at or below, I have to ask myself what does the 200dma even mean at the top? It's still rising. The Naz is still falling. How many are hoping against hope to sell into rallies? I hope I am wrong, I may well be wrong but I can't afford to be wrong by buying in too soon. I am not going to risk my last few shekels.
There are still a lot of stocks down by 75%, having broken 200, 300, 400, even 500 DMA if there is such a thing, that still have 1000 or worse no PE's. I think valuation is going to be the "programme for recovery"
Shai-Hulud!
I must not fear.
Fear is the mind-killer.
Fear is the little death that brings total obliteration.
I will face my fear.
I will permit it to pass over me and through me.
And when it is gone past me I will turn to see fear's path.
Where the fear has gone there will be nothing.
Only I will remain.
(Paul Attreides?, Dune) |
