Hi Chip,
I understand your reasoning and sorry to hear about your nephew... But the markets need to sort themselves out, WITHOUT outside intervention. Don't think for one minute that Wall Street is doing the same as you are.
What do think about the spin doctors that are telling people not to sell and hold on as they themselves are selling? I find that REPULSIVE!!!
I tend to disagree about liquidity, I think you will see liquiditiy WILL become an issue in the coming days/weeks as there will be less shorts there to buy.
BTW, I traded 12 times today, 7 short and 5 long, and I don't think I have my priorities wrong. I can't begin to tell you how much money I have thrown away shorting this market in the past, I'm only taking back some of the money I lost to longs. I think all the longs hung in this market get what they deserve, it was going to fall with or without the events from last week. Earnings SUCK, my industry started falling down back in June, not last week.
Blame the spin doctors for keeping up has high as it was.
Blame the administration for a strong dollar which forced people to invest in our market trying to save it while sending manufacturing (where I make MY living) overseas.
Blame the Bush SR/Clinton Administration for not pulling the troops from Saudi soil after the gulf war. Bil Ladin warned us to send them home, or we would pay back in '93...
Blame the US for not setting a better enviromental standard, and keeping us relying on foreign oil...
Things are way beyond OUR control, so I have NO remorse for shorting this market, as the powers that be are joining me...
Sorry for the rant...
Jeff |
