The EU Sovereign meeting finally came out with a definitive decision on the Greece bail out plan last night. I had thought the market had discounted most of it already. Especially given that several prior rumors about the meeting didn’t really shake up the market too much, it should be a sell-the-news day. I was dead wrong. Instead, it was a gap up and run day — a massacre on the bears, blood on the streets beyond belief. In hindsight, the candle that I absolutely hated to see yesterday foretold today’s massive rally. The news was leaked and this game is rigged.
I resent the jinx that follows me every step of the way. I’ve switched from one system to another. All the same outcome: as soon as I started following the system, the system stopped working. Whenever a system works, I don’t follow it UNTIL when it is proven under my scrutiny; then as soon as I make up my mind to follow it, it stops working.
I’ve never lost so much money in such a short period of the time. SPY is up nearly 20% so far in October — the best month since 1974, and I’m in the middle of it, shorting the whole time. No, I’m triple short via SPXU! How much more wrong can I be? Am I a fool? Not at all. I hold masters degree from an Ivy League school. I started and sold a software company. As far as investing and trading, I’ve tried everything while being pragmatic. But I simply ended up losing, big.
In trading, you can blame on technical errors and money management and what have you; but the latest system isn’t even trading. It’s just 1 signal since May and that is sell. In trading, you can say I lack patience. So here I’ve practiced patience — put on the bear hat for months and still it is not paying off. Right now it’s simply a matter of mustering up enough courage to pull the plug and admit that I simply can’t shake off that jinx!
Presidential cycle, Santa rally around the corner, RSI at a healthy 65 level, no negative divergence in MACD, and my long time trust worthy $BPCOMPX pointing straight up — it’s blue sky above. Buy, buy, buy!
Portfolio Value: $119,700