Haven't been blogging for several months to get my head straight. Uncle was going through some health issues, passing away in May. The memorial service was something to behold as 140 of his friends came from as far away as the home country to share their stories and how he made a difference among the thousands of people he influenced.
Having had a chance to see through, its obvious now that attempting to trade during that time could only result in disaster since I couldn't devote 100% of my time to watching the markets. At the lowest point, we were down 11% ytd before getting a grip on things, and recovering all the losses from those three months in 20 days. We're still down ytd but now we have a realistic chance of turning positive with six months to go.
Tomorrow at 2:15p is the rate announcement for another FOMC meeting. Regardless of what Bernanke does on interest rates, we want to stick with the way we are managing positions and honor both those profit stops and stop losses.
It's obvious now that Livermore was right that posting one's trades is more of a detriment and one should trade with a lone hand. If we were retired and had $1 billion, it would be different because of the credibility factor.
YTD -4.71%
Monday, June 23, 2008
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