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Not trading related, but did I mention I went 30% VBMPX (Vanguard total bond), 50% VMMXX (Vanguard prime money market), and 20% balanced/equities in my 401k about 2 weeks ago? But hey, I heard it's impossible to time the market and I should just hold an index fund for the rest of my life...

I think the simple reason CNBC does a special report on this rather than "SPECIAL REPORT: NASDAQ RALLIES 2% IN A DAY BASED ON NOTHING" is because blood/fear/loss/etc sells, the majority of their audience are deer in headlights / 100% long types, and fear overrules greed because here people are...

That's the joke. :-)

IMO, the need to be right is also intertwined with FOMO.

I don't get why Rickshaw is so quiet right now when he says he knows how this game works. Surely he can recognize when the rodeo gets closed down for a week and it might not be time to go long?

This 11/14 ZH article seems apropos about now given the distinctly different lack of any real buying happening: http://www.zerohedge.com/news/2014-11-22/veteran-sp-futures-trader-i-am-100-confident-central-banks-are-buying-sp-futures

I think there's a key difference though - he's acutely aware of what the habits are, meaning there's some hope there.

By far the easiest dysfunction: Overtrading or impulse trades. Top calling. Bottom calling. Not trading at key levels or forgetting to consider them before putting the trade on.

If it means anything, the only significant profit I got on ES was today's 28 pt short and the VIX spread. There were just no good entries for me on the ride down given almost no significant pullback and I just can't force myself to jump into it without seeing where the buyers attempt to defend...

I've made about 12k$ in the last 2 weeks with a few solid strategic positions on GC, EURUSD, EURGBP, a VIX futures spread, and just plain not overtrading or even much intraday trading to be honest. Mostly 1-2 lots, nothing huge. Also had some positions that were deeper in the money but got...

Out at 1.1369 for +477 ticks total since putting the trade on on 8/6. This seems like a good area to take off risk given the hard selling in equities and the Euro's run-up to this point; I don't want the weekend risk with Fed or China pulling rabbits out of hats. Can't complain.

Jesus, CNBC is just total garbage. I turned it on for some entertainment into the close (I never listen/watch it) - and this is just pure retail thinking nonsense. "Calm down guys, it's gonna be alright! This is just a normal sell-off, seen it before, yadda yadda" The funnier parts are where...

IMO you guys need to stop going long. I realize the temptation, trust me I do, but what do you think the funds will be doing at the close?

Yep. Venezuela is sounding mighty fearsome right now. Russia should be on it's way as well.

It's funny because now might be a stellar time to turn on the buyback machine rather than BTFATH as usual.

Back in Feb, '09, CL hit a low of 34.90. Consider the sentiment around that time post-2008 - way more dire than now, and yet CL is presently at 40! Those 20$ oil people don't sound so nutty now.

...and out of short for 111 ticks. Nice Friday gift.

C'mon baby, get there, get there! (said in horse-racing track voice as the horses near the finish)

So close, yet so far...

Fuck Cramer and his whining about the Fed and govt needing to step in. This is supposed to be an actual market. The market is telling you that it's overvalued and traders are selling. It's that simple. The last thing we need is "leadership." These people have been addicted to the Fed crack-rock...