Gottfried, I tried to pull up a chart on AMAT via the stockcharts site and was unable to connect. They must be updating.
I looked at the chart earlier this evening and it looked like it was setting up nicely for a long position.
I took a position in AMD earlier this week and got stopped out the same day. Geeeesh!
I'd like to mention something about fear, if I may. I learned a long time ago that the way to overcome timidity and fear is to use action. Do something!
It's true, I am experiencing fear over the results of the markets. I have 401K's that I can't do anything except stay in cash or invest long in equity funds. They haven't provided me with the tools to take any positive action. My IRA and personal trading account have. I have been very aggressive shorting the market. I have embraced my fears and done something positive. Although some people wouldn't recognize shorting a stock as being positive, taking the corrective action is positive.
In the Marine Corp we were taught to duck for cover when under fire. That doesn't sound very courageous, does it? But once we were safe, it was our job to improvise, adjust, adapt and attack. I believe I have displayed those same qualities with regard to investing.
The economy is under attack, so are the markets. All of us here knew September and October are the worst performing months for the markets historically. I mentioned in advance that part of my plan was to use USPIX, a short fund, and RYURX, a bear fund, to take advantage of the market weakness. USPIX gained almost 6% again today and is up over 200% for the last 12 months, up 80% since I mentioned it here a few months ago.
Fear can be good if you take corrective action. Cowardly fear would be to sit on our hands and do nothing, to become an enabler.
To be honest, I wish we would bottom and start to move up. I'd like to take some long positions and forget about it. Staying short is a full time job! My butt is stuck to my chair, I need some fresh air. <LOL> My garden needs my help desperately.
I respect your comments.
Da-fearful-but-short-bum |
