I intended to take the day off, basically because I am not seeing the market right. I started a “best ideas” portfolio inside Stocklabs and I can build long term portfolios all day. But, alas, my trading has been nothing short of abysmal.
The methods I used of chasing stocks higher is now met with steel pipes to the face, as I am forced to churn over and decimate my confidence in seeing the market right. It’s important to note, in my previous blog I had been +60bps after jumping back in and now I closed down 75bps, at session lows — because the stuff I chased was hot money and it cooled later on in the session.
I’ve manifested a gloom over my own decisions because of this slump — now entering the 4th month. Mind you, because of the methods I employ — I am up 10% over this time period. It is a slump for me — but for you — well, it would be outperformance.
I can discuss my shortcomings until blue in the face but it does none of us any good. What I must do is change my methods, away from what is happening and back to what might happen. The pickings are slim and the carry-through on these trades are short dated, leaving the market festooned with the guts of endless traders chasing alpha.
Many things I knew would go up and did — but I hadn’t any shares because, well, I kind of suck right now and it’s ok to accept that — since humility is the mustard seed of greatness, one that must be born out of hardship and sometimes evolution.
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Keep your head up man. Think about how long you’ve survived this game, and how many others were left as corpses – rotting on the side for the rest of their lives. In other types of jobs, there are also ups and downs and sometimes the downs are just a slump but other times leave you with no job. Be fortunate that with your skills, you can pick yourself back up without having a dependency on others. Ride on!
Thanks Dr. Phil
Enki and Enlil would be proud
Damnit Fly, you’re the best on the web