By far my favorite ride here at Disneyland is Buzz Lightyear's Cosmic Blaster. But, as with laser tag, I tend to get a little too into these things.
Slope of Hope Blog Posts
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Last night, I updated my list of trading rules, and I'd like to explain why.
Balance – this one is the hardest of all to define, but because it is impossible to know with certainty the future direction of the market, a balance between bullish and bearish positions is the most prudent. In addition, if you are heavily weighted either bullish or bearish, and if the market moves strongly in your favor intraday, you should consider taking on a large opposite day-trade position for "insurance" profits in case that intraday move reverses.
8/29/2009 amendment: I will add that a major concern I have is that our government, which has become quite accustomed to extreme interference with the markets, will step in to "rescue" everyone during the resumption of the tumble. As a person who hopes to profit handsomely from the downturn, my concern is that the government is going to specifically target the bears in a show of populist activism.
I put nothing past them. Some ideas that spring to mind are outlawing options (or at least outlawing put options), assessing a 95% tax on profits from short sales, and making short-selling on any securities illegal. So I plan to take most of my profits before I believe the final low is in place if I get the impression that the lawmakers are about to step in and save everyone from the bears who "caused" this calamity.