DJIA Rally Breaks The 8,300 Barrier: A New 2009 High

Posted by Kris | Thursday, April 30, 2009 | , , | 0 comments »

It is a good thing that I completely dump all my shorts on financials. If not, i will be severely burned by this rally. My former "put" have now lost ~70% of its value.. close shave.

Even though it is hard to believe that this rally can sustained for so long, it is unwise to fight the flow. I don't see this rally abate anytime sooner. Even i don't want to believe that the chart is showing a consolidation in the near future..

I guess I am naturally inclined to be a SHORT player rather than LONG. Really need to "cure" this mindset. I must be able to take both directions..ssshh...

Moral of the story: Both shorts are incurred me the heaviest losses while my long calls granted me extraordinary profits..

Nevertheless, I want to sit out for a few weeks and monitor the market WITHOUT trading. 

Time to get a new restrospective.