The man would be he who doesn't second guess himself. I am going to make it my resolution for the rest of the year to try to be "the man". Second guessing only confuses you. It's ok to change your mind based on new information, but without anything new coming to the table, second guessing is just that...guessing.
Just as I was rueing (sp?) getting out of my longs, we broke hard and we sit right near the levels I wanted to origionally buy at (1322ish). And this time, I don't feel like buying. Infact, this time, I am sitting tight and have a slightly bearish outlook. We have failed misserably to get past those recent highs, and we were so darn close. We had a great $15 dollar lead in the S&Ps from my good long entry points, and still nothing great to speak of. I thought for sure we would continue today's open enthusiasm and rally into the 1340s. But alas, we sit near last weeks lows. Gartman is short (via long puts) and while I don't follow anyone else's advice...he's smart, so I do listen to his logic. Richard Russell is for sure not a bull these days. And again, while I don't listen to others, if I had to listen to one person...Russell would be the dude (besides me, that is).
I would also like to suggest a good trading blog read. http://www.dehtrader.com/
His name is Glenn. And although I am not sure if he reads my blog, I read his. He's very honest. Unlike most, he posts all his trades...good and bad. I think that's very very important.
So....enjoy...Good Luck.
Andy
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