As you surely know by now, since everyone on the planet was watching at 5:30 a.m. for the news, the CPI came in red hot.
As you also may recall, just a few days ago I was deep in my woe-is-me, I-suck-at-everything mode, which any geniuses out there surely would have exploited and gone crazy buying puts.
This morning ,as the market augmented yesterday’s plunge with another plunge, I thought to myself, “All right, stupid, you’re not going to screw this up again. Time to GET OUT.”
But here’s the problem. My charts are gorgeous. Chart after chart after chart, and I saw NO REASON to dump any of them. I really wanted to. I tried making them look as bad as I could. Which ones had terrible bid/ask spreads? Which ones had the largest amount of extrinsic value? But, try as I might, the charts still completely rock, and with an average of 129 days left on them, I refused to do anything except lighten up in a couple of securities only because they had become so valuable.
So, fool that I am, what I’m simply saying to you is………..
