I guess that’s the problem with shorting the market. You tend to get all backwards in everything in life. For example, I laugh at the despair of my friends, naturally they become my enemies. I’m envious of the success of my companion, inevitably we depart. Watching Tiger Woods missing puts entertains me. I saw an old man jogging trip and fall, it brought me great joy. Things burning excites me. It’s raining right now and I’m loving it, but I’m hoping it will rain harder on the weekend because I know it will be someone’s dream wedding.
So of course, when the Nasdaq is down -3%, and the Dow is down -200 points, the world’s panic is my elation. My only regret is that it isn’t down harder. That goes the same for my individual short setups. I’m left with some tricky decisions…
Do we add more shorts here? Do I scoop up a bargain? The answer to both questions is no. We sit tight. We watch this market screw us all a little bit, but staying in the game long enough will reward both sides. My side more than theirs. Because the real winners are neither long or short, but keep their cool and laugh at everyone else. This is the stock market people… look a little closer, release your dark side, or we will take your money.
Great post Gio! What do you make of the $VIX.X?
Gio, what is going on with NFLX? I just have a put in place so not much capital, it is just down right silly! Good thing PEET’s is going in the right direction.