My ANR is getting hit this morning because of two analyst downgrades. Should I give a shit about what two shmucks have to say? In hindsight, absolutely not. Nevertheless, their opinions are hurting my position today. Earlier this week, Goldman downgraded ACI. The result: ACI is up more than 20% since then. It goes without saying, often times analysts are reactionary asshats, desperate to make a good call. In my opinion, it’s borderline irresponsible to downgrade coal at the time when a new President can lift EPA restrictions, a cold winter may spur demand and European/Asian exports are on the rise. Plus, has anyone taken a look at natural gas lately? It’s not exactly dirt cheap anymore.
I gather the utilities will be restocking their coal supplies shortly.
JIVE caught a downgrade too. I truly don’t know what to say about that one. My patience is wearing thin on that one.
DDD caught and upgrade and everything else I own is treading water.
Yesterday was a great day for me, making more than 3%. Last I checked, I was down about 0.8%, despite a strong market. Nothing makes me feel worse.
So what do I do on days like this?
I turn off the screen and go to a restaurant or occupy myself with a productive task, separate from the market. It’s impossible to micro-manage all the time and not burn out. In order to stay fresh, sometimes it’s important to let things go, fall subject to the whims of nature.