Earlie,
<Gary:
Do you mean what could go wrong that would precipitate a crash, or what
could go wrong with my scenario that a crash is inevitable?>
Gary means what could go wrong when you're sitting at your terminal intraday October 8, watching the market correct in a stairstep down in what would have to be only the first in a set of waterfall declines if equity prices were to return to some semblance of sanity, especially given the precarious and deteriorating state of the global economy.
Do you split your 10s 'cause the dealer's showing a 6 and double your bet? Or do you stand pat and take the almost sure winner off the table?
This is really hard for me to do, but Gary's got a great question. How do I keep objective enough to evaluate new data as it comes in, when it challenges my view of the underlying dynamic of what's goin' on, and especially when I may be dead wrong in the short run, though dead on in the long run?
Peter <g>
p.s, I held onto my 15x CMB puts, and sold only part of my 10x Dell puts, and had the rare privilege of watching them expire, long since asphyxiated (sp?), in January. Do you think I'll ever learn to play this game??? |
