Oops... my shorts are hurting my performance, last week 50%, now 35% for the year.

It would be nice to see some crappy news in the last 1/2 hour ! LOL

I won't panic. Yet !!!


Quoting  Gartman: Capital comes in 2 varieties, mental capital and that which is in your account. Of the 2, mental capital is the more important. Holding losing positions cost measurable sums of actual capital, but it cost immeasurable sums of mental capital.

Ace Greenberg, CEO of Bear Stearns (he was at BS for 61 years) used to chair a meeting of the risk committee every Monday morning, whose agenda was to enforce limits on the extent of capital exposure. As a rule, losing positions got sold on Friday, and he didn't care how nasty a hit the firm had to take by 4 PM. Monday all the dogs better have been off the books !