Bittersweet, that is how I sum up the past few weeks for me. I
started out the month ultra bearish. I felt like I was nailing most of the
tops, scaling out pretty well, then re-shorting. Wash rinse repeat… Blah blah
blah, now I wish I still had the balls like I had in 2008 to "Short and
hold". The past year has done some damage to my psyche.
Then I wrecked my beloved Fiero "Darla" two weeks ago. I
worked so hard for her, and took out a lot of my bearish winnings to purchase
her. Now I'm back to square one. Last week was pretty good, but it seems that I
was in a drunken stupor with Thurston Drake carousing male strip clubs. Even if
I got to score with some babes, I remember nothing so it doesn't count in my
book. (Thurston… sorry dude, I didn't even realize that was you in the pic
until Tim Knight pointed it out. Hope you and Luscious have worked it out.)
After this week's bearish awesomeness, I am still disappointed.
The decline has been steeper than I anticipated, and I didn't get to reload as
much as I had wished. I also took things off the table too quickly (but after
the past year, who can blame me). The past couple of days, I have been
overtrading. I don't trade as fast as a lot of people here, and when I do it
usually ends up bad.
Currently, I'm looking to offload the final bit of my shorts, but
I'm not too eager to go long now. The longs I picked up the past couple
days have really put a damper on my short positions and emotions. I was trying
to focus on picking up some longs, when I should have been adding to my shorts.
I might just unload some shorts and wait for another short setup. Jumping from
short to long screws up my mind sometimes. I keep telling myself that there is
nothing wrong with being out of the game for days or weeks if needed.
The following chart is telling me that we could be in for some
wild swings up and down; I want to stay focused on one side for now. If we go
lower I'll be watching for around 1060-1040, if we break 1020 all hell could
break loose. If we go up above 1100, we could have quite a ride up. Possibly
even making a new high, though I find that unlikely right now. I posted a monthly
chart last week, and May 2010 is going to be an ugly month no matter what for
the bulls.
