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Thursday, April 10, 2008


The feeling that accompanies an experience of being thwarted in attaining your goals.


I know a lot of traders out there are frustrated because the market is not acting in the way that they expect it to. Some traders quit, some traders compound their mistakes, some traders are just loss.

With all the bad economic news, the market still continues to go up. There are still plenty to investors who are gloom and doom. At the same time, there are plenty of investors who are bullish.

You can anticipate a market decline; however, it does not mean the market will decline. May be it will, may be it won't. Who as a crystal ball?

Look at FXP as an example, the stock rose from 73 to 84+ in a few days. And I am sure you noticed that I sold calls to protect my position and sold my may75c as well. Sure, I would love for FXP to hit 90+. But let's be reasonable.

Do you know where FXP closed at yesterday? 84.20. And where did I say the resistance was? Never even made it there did it?

Hindsight is 20/20. And how many times am I going to keep repeating that? But it's good to be right.

Lastly, looking to buy and executing a buy are two different things. I have been looking to buy GRMN and I actually bought a small position in GRMN today at 46.25. Yes I know that GRMN can fall to 40, where the support is. However, I was willing to take the risk. It's a small position and even if GRMN goes all the way to ZERO, it would not hurt the portfolio. Obviously, I won't hold it to zero, but you get the point.

Buy straw hats in the winter.