Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

"I blame analysts for the current decline."

Just be careful about getting married long or short. We can't will the market up or down and it's dangerous to cloud your view in an effort to have it go your way.

I went very long at around 1260 and kept buying more all the way down to 1192. Each day hurts because you keep watching your account go lower and lower but you have conviction that it will turn so keep buying at better prices. I sold all those longs that day the nas went up around 50 points and the DOW 300 or so - around NAS 1330. I made around 10% on this run. I immediately went short at NAS 1330 at the end of that day and kept short more all the way up through NAS 1425 having conviction it would turn back down. I covered all of my shorts today when we bounced from 1320 and am now 100% cash again. That run garnered me about break even and I think I'm going to gather my thoughts here on the next move before jumping in again. However, I believe has worked best to average into positions, especially when you may have been early as the return when it corrects can be handsome. Although this takes brass you know what to do...