On life support

I’m still around. I really don’t have much in the way of the stock market to say, so I just haven’t posted. My account value went down yesterday and if it went up today, I didn’t pay close enough attention to it. I’m not pulling a Lindsey, I haven’t abondoned my failured trading or this blog, just nothing much to say. You know how I feel, because you’ve felt something like it too.

I’ve actually hit the pathetic part of a failed trade, when I refuse to sell for a loss and instead will ride my failure into complete worthlessness.

You might not have gone through this extreme, but the rest of my feelings are probably more familiar. I’m upset that I chose the incorrect direction of the stock. No matter what the logic states and how the news is going to come out, the direction of the stock is determined by the masses and not by the more intelligent of us.

It’s amazing for me to think that just a few weeks ago my account value was over $8,000 and now it’s sub-$2,000 and probably closer to $1,500.

While work has kept me really busy, I’ve learned that I actually forced some of my trades just for the entertainment purposes of this site. After having spent some hours reading through cached trading blogs that no longer exist, I realize that I’m no smarter than a Retard. But that might be what saves my account.

Expert traders are happy to be correct 55% of the time, or more. They place their stops and let the stop protect them. Instead, I let the law of gravity protect me. Eventually, there won’t be further to drop but until then I’m obey Newton’s theory pretty well.

Chitty had some news come out after hours about selling an additional $3 billion in stock to get some cash, even though they have stated on several occassions that they are not in need of more cash. Liars.

Maybe the stock will drop a little tomorrow. It would only take a couple dollar drop for me to be stupid and assume the trade will be profitable again, so maybe I’ll get that tomorrow.