Never Short Obama!

I am getting killed shorting today. We have a series of compounding errors:
1. I did not sell the puts on Monday creating frustration.
2. I did not execute my plan to buy Obama and then sell Obama. This week he has spoken on Monday, Tuesday, and today.
3. I shorted into a dull day (day before Thanksgiving) that is illiquid.
4. I kept trying to play the same direction and within the same hour.

I must have the discipline to not play when I am off.

I had my biggest trading win last week (+6800) on Friday buying up the Obama rally. Today, I had my biggest trading loss (-5250).

LESSON: BIGGEST LOSSES FOLLOW THE BIGGEST WINS.

Don't do stupid things when you feel emboldened.

New Jack City

Comparison - Repentance & Restoration

Comparison - The Backslide

Comparison - The Phoenix/Burial & Resurrection

Side by Side Comparison - Death

PRETTY GOOD FIT

WOW!.
What a fit! Key features that match:
1. Overnight jack in Europe.
2. Scary mid-day sell-off.
3. V-SPIKE.
4. Mega-Jack at the closing hour.

Not sure how you can do better than that!

OVERNIGHT PANIC - INTEL WARNS ON Q4

The Grounie for today is 10/15/08. On that day we had the biggest percentage down move since 1987. After the close, we had a panic sell-off just like yesterday night. Initially, you made money shorting that move. However, during European trading, you had a jack that was very painful, and then a big dump to re-test the lows.

Today, we had the lows of 841, a jack during Europe of 863, and then a re-test of 843. I left orders out to capture part of that move. AMAZING.

We should have a recovery by the end of the day.