xtahce: I agree whole heartedly with you regarding placing more emphasis on shorter term goals than longer ones, as I have stated many times, staying in the present is most important to TA.
I think you might have mistaken my Cognitive dissonance theory a little, in that it has more to do with having actions occur first, and then beliefs to follow them to be congruent, and then actions will follow those beliefs. A good example is buying a stock, then believing it will go up even when it is then flat or declining ("the market never lies"), and then not selling. Perhaps you just had a different emphasis.
As far as beliefs coming first before actions, RET (rational emotive therapy by Albert Ellis covers that).
I agree that sometimes it is fine to sit on the sidelines, and risk missing a move (if you are a position trader like I am especially), when the odds favor you not missing a move and when the risk is worse by taking a position. That is why I have not done anything since selling in July.
I have been willing to risk missing a move from the high 3000's to 4289 (and potentially higher at the time) in August and have been on sidelines in Sept even when I thought Sept might be a little better than August (which it has not been) because I didn't like some of the technicals and the unfavorable seasonality. I didn't want to chase some of the stocks I intend to buy and there did not seem to be an urgency to go long.
But I would not like to miss out on the next bull market in the Naz, which may start in October,imho....
Thanks for your thoughtful insights... |
