Survival is an Option!

So the S&P lost over SIX (6) Percent this week. Fifteen more weeks and we are at Dow 400. No way the Saudi’s will let that happen :) .

There is nowhere left to hide. Thee agriculture bulls took it hard this wek as well – checvk out MOS and AGU this week. Yowza. The shorts are just shooting fish in a barrel. It is their time, you must accept it or go broke fighting them.

Today the VIX was flat after another 300 point plus reversal. Is no one concerned out there? It feels as if individual stocks have gapped down so much that people have just turned their heads and are holding. That’s dangerous.

Need I remind you of the HOMEBUILDER index – TAKE A LOOK !

The singular feature of the great crash of 1929 was that the worst continued to worsen. What looked one day like the end proved on the next day to have been only the beginning. Nothing could have been more ingeniously designed to maximize the suffering, and also to ensure that as few as possible escaped the common misfortune. The fortunate speculator who had funds to answer the first margin call presently got another and equally urgent one, and if he met that there would still be another. In the end all the money he had was extracted from him and lost. –John Kenneth Galbraith, “The Great Crash”

Personally, I have been worried the last few weeks and hate seeing people I know in pain and taking huge losses. It’s all about confidence as I have been blogging.

Today I got long for a trade because of my gameplan (wrong) of what I saw early and barely escaped SPY and QQQQ hell. I am done with that for now. Took the day losses. Cost of admission to a man’s trading world these days.

Next week is my yearly trek on a bus with buddies to play hockey in Toronto and Montreal. The market can rally or plunge without me for the most part.

Stay in the game.