Wednesday, August 06, 2008


After all time and efforts spent on market and sectors analysis, after perfect timing in positioning 20% of account in (QQQQ),(SMH), (SPY), (XLF) long calls just 4 days ago [ordered by relative position size], after experiencing minimal drowdown [relative to wild swings experienced in my trading account due to heavy options trading as of late], after all of that - I bailed out of that position with as minimal profits as humanly possible. No, none "spooked" me, none influenced my opinion, 2 days ago selloff did not confuse me [remained bullish], yesterday's rally did not affect my decision - it stood no chance - I sold long before "FED induced silly rally" - I just sold out.

I think "battle fatigue" I was referring to few days ago really took its tall on my decision making process, subconsciously I want to be in cash and take a break.

Today's action and "money not made" hurts more than "money lost", it is not often I cannot find any reason for closing entire profitable position at once, acting on momentary impulse - I scale out of profitable positions. Just tired...90% on cash, sell orders set for August options "leftovers" ...posting will resume after next Friday.

Good luck.