Re: ridiculous
in response to
by
posted on
Oct 14, 2008 09:29AM
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Nols, I'm ticked off as well and have expressed such on this forum often enough. However, you can't keep dwelling on it. These markets have made monkeys out of us all.
Even the very best traders have been humbled by markets. Look at Jesse Livermore... called the crash of 29 and made 300 million on it. Then went on to try to call a bottom and get back in and lost all his money. He ended up shooting himself in the head in 1939... if he'd only hung on a little longer!
There are a lot of folks who are going to find the same fate as they rush back into the markets now. Is this a bottom? Short term for sure but just you wait to see what those 4rth qtr earnings do to the market when they come streaming in next year. Goodbye profits... goodbye dividends... hello poverty we meet againnnn (think supertramp).
Anyways, try to get over this. You will probably not see your break even point for a long time. So you have to think of other ways to make up that money. For now, it's probably wise to put some money in seniors. I just can't see the juniors running before the seniors run very strong for an extended period.
There will be some great shorting opportunities. I'll be doing it through option puts but also with calls to hedge my bets.
Dwelling on losses will cloud your vision of ways you can make money in the future and there are so many opportunities in our midst now.