Well, another el stinko day in bear-land! I've been getting a small handful of harassing emails about the continued upward movement of stocks (which always reminds me of the famed Australian Voicemail I got almost at the exact peak of the market a couple of years ago). Perhaps my detractors are hoping to get me rattled. Sorry, boys. It's not working. Go bother somebody else.
On a happier note, I just received The Mania Chronicles from Elliott Wave International, and I can't wait to read it. It has nearly 700 pages, and it's packed with the kinds of stuff we love discussing here on Slope – – particularly popular culture in the context of the financial markets from 1995 through 2008.
I'll let everyone know what I think when I'm done, but a quick thumb-through makes this looks like something I will have trouble putting down. They're offering it for 34% off, so if you want to get a copy, click here. I was kind of surprised it was only $79 for a very big book on such a niche subject.
I'm not going to do any more posts today. With the markets unable to dip, even on bad economic news like today's retail numbers, I feel like I'm pounding sand at this point, and I'd rather just let my individual positions work themselves out. I will say, however, that I am able to deal with drawdowns with barely a blip of emotions since:
- I am dealing strictly with risk capital (there is a firewall between my trading and my "living";
- My trades are based on logic, not emotion;
- Profits delayed are not profits denied. I have come back from far worse than this! I have every expectation that 2009 will be a terrific year for me.
So I'm going to do some other things besides Slope for the rest of the day. Thanks, as always, for popping by (and a particular thank-you to regular commenters!) Good night.