Traders are always trying to work out what happens next. But in the process of becoming convinced of something we actively block out information which doesn’t fit with our narrative. We become openly hostile to those who have an opposing view. We become biased.
It’s extremely tough to avoid this. Myself, even after 7 years in permabear recovery, I still don’t like being long stock indexes and have to force myself to take the setups as they appear. Deep inside there is a part of me that wants to see it all burned down. Taken to an extreme is the kind of idiocy you see at the slopeofhope, where the internet’s 3 remaining bears huddle together for [...]
After an extremely profitable first quarter I think most of you would agree that I have more than earned myself a little vacation. And boy do I need one as I have been feeling myself running on depleting reserves over the past few weeks. Yes, even the Mole is only human (sort of). Also, beyond the polished facade and daily evil deeds there had been a lot happening behind the scenes, some of which I have no doubt Scott will be talking about as he’ll be filling in during my two week absence. And may I just say – are you in for a rare treat ladies and leeches!
This may be strange coming from an expat living in Spain but you guys have no idea how much I miss going to a good ole’ fashioned American diner. No not one of those fake copies in L.A. they build on top of the original ones after tearing them down. Yes, I’m looking at you Mel’s – what the heck were you guys thinking? A solid American diner has an ambience unique to where it’s located, it must have a zany 1950s interior, there need to be impatient chain smoking career waitresses, and the food of course needs to be delicious with generous portions to boot. My favorite diner in the world is Carla’s Route 66 in Twentynine Palms – I think it used [...]
It’s that time of the month again and that means blood spills all over the place and rapid changes of emotions for no apparent reason. Of course I’m talking about a Fed announcement day which is the financial menstrual cycle determining the fertility of your bond holdings and thus implicitly the value of the remaining currency in your pockets. Not wanting to get pregnant ever again after one too many abortions the Fed chose a multi-level regiment of birth control measures in 2008 and then proceeded on a financial partying spree, with apparently no end in sight.