___________
With the exception of my core reader base, which consists of the most intelligent and disciplined traders on the web, most of the people I see out there in “Trader World” belong in a Chuck E. Cheese. This stock market game is chess, not some morning after Thanksgiving clearance sale, where you think it is perfectly acceptable to trample store workers to death to buy your LED TV for 80% off. Most of the people I see want what they want, and they want it NOW. If you provide analysis, and it does not immediately pan out, they act like Tony Soprano with low blood sugar, confronting you and calling you out to “keep you honest.”
Here is the real question, would you have the demeanor to sit at a live poker table with nine other people looking to take all of your money, and keep your cool when someone gets lucky on you and wins a $5,000, a $10,000 or a $20,000 pot? Because if you don’t, pal, you are in the wrong business. If you live and die with every trade, you are going to see more funerals than that gay guy in Six Feet Under.
Trading is NOT college football, and it is NOT an individual baseball game. Going undefeated or pitching a perfect game is not a realistic or constructive goal. Rather, trading is an entire baseball season. No baseball team will go undefeated over the course of at least 160 games per season, and no poker player will always win every hand. Losing is part of the game. Take it in stride, and move on.
Now, with all of that said, nothing has changed in my belief that we are set up for a nice rally into the end of August.
Also, I covered my 3/4 $ANV short position for a push. With The PPT suggesting a bottom is in, I can think of better things to do with my money than to short a gold stock.
___________
TOTAL PORTFOLIO:
EQUITIES: 60%
- LONG: 60% ($SYNA $ARUN $APKT $KOG $LVS $MELI $HMIN $RDWR $CMI)
CASH: 40%
Comments »