Jeff, from The Stock Bandit, offers sage advice:
"We’re at the tail end of hurricane season, and there are some
realistic parallels we can draw here. Those who live in the projected
path of these powerful storms… realize that
certain precautions must be taken in order to avoid
physical harm. While a few of their
belongings might sustain some damage, their willingness to pack up and get out of town… can save their lives – allowing them to return and rebuild, and once again thrive.
Similarly, as a trader you must be willing to seek shelter
when storms come along… During these times, your account
might take a hit, but any effort to preserve capital during
such times will enable you to at some point resume your activities as a
trader… Once the clouds begin to
break up, then you can seek out those profits once again and begin to
rebuild your confidence.
Safety First, Profits Second."
David shared this great quote after a wild day in the markets:
"The problem with financial institution balance sheets is that on the
left hand side nothing is right and on the right hand side nothing is
In case no one noticed, Don pointed out that the Super Bowl Indicator was: (The market is supposed to rally when an NFL (vs old AFL) team wins the Super Bowl. This year's winner was the NY Giants.)