Of course it is Bob. So what. Me, I am one shock away from a mark-to-mortality.
It's about odds. The odds that I die today are low, so I live accordingly. The odds that we'll gap down so hard that I can't get out of a long are low, so I trade accordingly (particularly if I stay away from longs in speculative stocks as opposed to indices).
The NASDAQ crashed. We were right and the long clowns were wrong. It lost 80% of its value just like we said it would, but I think the bears have to commit to adapting along the way.
Hell, we think the down has more to go eventually. Still, it did the first 80%, and will likely do the rest, without any crash that a trader couldn't get out of (well, maybe just one, some 3 of 3 of 3 LLCF -g/ng). Fear of a terrible price shock just freezes a trader, even one who trades monthly charts.
I understand your pov/timeframe and respect it greatly.
Cheers, Allan |
