Wednesday, April 01, 2009

“How’s your hammer hanging?”




Guests at Bellevue will soon be given bathrobes instead of straitjackets, if the city can convince a developer to turn its most famous nut house into a luxe hotel.

New York Post


Speaking George Carlin may he rest in peace, I was “fine” or “dandy” during the last 8 days, but not both together most of the days.

Look at that hourly S&P500 Futures chart (including premarket) – does it look like a weird mirror reflecting involuntary guest of Her Majesty Science of Psychiatry or at least his attempt to replicate Kandinsky’s painting?


That was not a chart, chart is below.

Look at fat grey trendline (no offence to fat trendlines intended) – does it look that it separates two mirror images one slightly scaled down and reversed? But at the same time regression channel showing downtrend? What do we make of it? Those of you who still breathing - “how’s your hammer hanging?”


Somehow I got through this mess in one piece, sometime that was just dumb luck, sometime good homework (A.K.A. Dumb Luck), sometimes I had a “gut feel” about holding or closing position (A.K.A. DUMB LUCK) – today my luck finally run out – I went long on the open, closed for no good reason and no good profits, attempted to enter multiple short positions, which closed at break even or close to, and, finally got stuck in yet another short trade which I had guts and was conviction to hold positively certain that it will make good cabbage and cabbage it made – bleeding most of the day, having too much fun and bragging about “SPY puts making money already” in the Real Time Day Trading Chat Room during sudden drop when I could make money on that trade (not just break even) and then Mr. Market made me watch /ES going faster than it came down (at least that was my feeling together with paranoid disbelief of THIS happening)

The moral? Kids – don’t brag – just trade…