Europe was on the plus side almost 1.5 % overnight here in the U.S. In addition the U.S. Markets were up over !% overnight. As I wake up this morning everything has been turned upside down. When is this insomnia inducing volitlity going to end? After all we had a very grim January isnt that enough?
Its going to end when people will no long want to mention the markets. It will end when your hair stylist is no longer touting Microsoft or Apple. And finally and more importantly it will end when it ends and once you realize you have 0 control over it the idea of do not fight the tape might sink in. Especially after you have gone through all your money:)
I know its no laughing matter but humor is the only way to keep things in perspective. As long as your position sizing and picking a technique that has proven to be long term profitable you will stay out of trouble. However if your like many gamblers I have run across …Yes the ones that when they are winning cant wait for an excuse to get up from the poker table but when they are behind you might find them still sitting at the table 3 days later down 100 to 200 big bets… then you are not having a lot of fun in the markets right now.
My job is hopefully to give you some introspective ability with a goal of changing behavior that might be impeding your ability to make money in the markets. It requires discipline and reason. Its something I have learned over the years from the undisciplined side of the equation. So when I give my opinions its from not only my observations about other people but first hand in the Pilot’s seat!!!
Well I am short several stocks right now and thats it. I have no intent of putting on any portfolio under these conditions. Sure It would of been better to do that mid to end of December…but woulda coulda shoulda is not in my vocabulary( Thats a term I was taught from a Tall Blonde Reno Blackjack dealer I dated years and years ago.
Well back to the markets this morning. Also have an interview with a radio station in chicago on my take on the superbowl. I used to give interviews back when I practiced law but have gotten away from that. They tend to be fun and entertaining.
Have a great day in the markets today!
If you want a 2 week free trial to follow what I do for trades every day. Just send me an email and I will get you set up.
Private Twitter: Rickjswings ( send me an email for a 2week free trial)
Private Twitter: Rick_sports