Monday, September 28, 2009

Panic First

I tend to develop fits of panic now and then.  Today I was convinced we were ready for a huge drop.

Not surprisingly, I was completely wrong.  However, I still decided to go ahead and panic anyway and sell a bunch of positions.

First off was TWGP.  That was a mistake and I took a nice loss, though reasonable (.5% of my IRA).  Probably should have waited but I realized it was a mistake for various reasons.  Fortunately, I have big wins in other names to offset.

I went ahead and bought SDS/QID even though I almost always lose with these names.  And sure enough, I'm losing.

 My favorite names continue to be  .ob China micro caps like CSGH.ob and LPIH.ob

Well, I'll take my losses in the hedges I'm sure.  I panicked first.  Sure, there was no need to panic (as of this writing) but I'm not afraid to panic first.  Maybe that makes me a bad trader.  Probably.  But it's in my nature.

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