This market has been exhausting. I do not do that many trades but scanning threw everything looking for setups and not knowing when the next news event will send the market up or down a 100 or 200 points. It became sickening that every time Gas-man would come on, the market would rally regardless of the crap that came out his mouth.
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This market is also frustrating because there is so many good ideas on both the long and short side of the markets, my brain does not think of things fast enough to make winning trades. Most of my trades have been in the Steels lately but during the last 3 days there have been great trades to be in like the banks, brokers and homebuilders. I find out about most of them after the makerts have closed even thou people in the chat rooms are pointing them out. My brain can only process so much.
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Isn't that called "information over-load" which each and every one of us suffer from 'including'
the big-lot trader. One becomes to subject to 'paralysis of analysis'
much like my old mentor Gene Morgan
used to say [from KWHY-TV LA days-
way ago]. OR one can stick with the slow stoks like Grande does [at least 2/5 of 40%+] at pile on
it x1000's share lots. Takes a great deal of patience while chipping away at 1-2 day scalps.
Plus on your side-you're well
cognizant of risk-specially in the
options arena. Seems like i 'fear'
not putting on enough v. get 'greedy' putting on to much.
Possible answer: establish a $amount for days profit and when
achieved shut the box down! OR, if in options arena play the % game.
Preservation of capital has got to be numero uno thus far in '08.
I'll follow your blog for awhile.
Click cautiously. We will get that
1000 pt intra-day Dow swing which seemed ridiculuous just a few yrs
ago. The assault of the 'hedge-fund' mania. AND that too shall pass[?]. Regards, klaudenhemet-
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