At Long Last, I Wise Up

By -

This morning, I finally got it right.

I had 90 shorts. I was over 150% committed. I was heavily short energy.

EVERYTHING was going my way right at the opening bell. Crude was collapsing. Equities were down hard. Huzzah.

In the past, I would have simply smiled and patted myself on the back, only to see the market rally and hack away at those gains.

Since that’s happened to me about 3,892 times already, I decided to wise up and cover like a sumbitch all the things which looked even remotely oversold. (Green arrow below). A lot of my covers were energy-related, because, let’s face it, crude has been demolished.

After a couple hours, I dove right back into shorts once more (not energy related, though) pushing my position count back up to 73. I’m 116% committed now, so lighter than before.

It feels awfully good not to get shot through the head for a change.

1208-es