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07/01/2008

Permabear

It is just a skosh ironic - actually, kind of painful - to be a "permabear" and still underestimate just how far the market will fall.

Normally this kind of GLOBEX screen would make me beam with delight. With a big index call position, however, it shocks and frustrates me. It's mitigated by a boatload of other (smaller) put positions, but I've got to - - this is a shocker.

I can only assume at this point that the $RUT is going to soon nail the target I set out for it in the first place; just a lot earlier than I thought it would ever get there. Ugh.


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