I believe in yesterday as a market reversal, good way to curse it.
I don't seem to post positions much, Umnnn It tends to curse it, I'm not superstitious, and I read something about not talking about your positions to people. mostly because once you tell people, it becomes personal, you can get your emotions involved and not call the loss fast enough or run from a good position of of fear of getting shit.
Yesterday as I suspected the reversal, I took a ton of weak dollar positions, basic materials, gold miners.
As we get the Hyper-inflation debate, and the Fed cut-no cut debate. these should kill it. I may stay in these positions as long as they win, up till the fed. I may not play on fed day. I suspect the bear will start that day or the day after.
Regardless the trend will be set that day, and I'll go either direction.
I'm starting to see the buyers come back though, it's good to see when your long.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Thursday, October 18, 2007
some postition and my market view
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