Days of Remorse for Mutual Fund Investors!
Most of September, 2008 has been a …….well, I hate to use the word ‘remarkable’ in this circumstance…..it is very appropriate. My heart really aches today for those folks who have their ‘dreams’ tied up in stocks and mutual funds. While the market has been causing them sleepless nights (and days), we e-mini traders have ……. well, it’s a fact… been doing very well. In fact, some of the best trading days we’ve ever seen! A whole month’s income in a day, several times.
But, tonight, I’ve never felt such opposing feelings [at the same time] like I do now. I thought I would never see another day like July 24, 2002, a day the DOW rose 489 points. It was a banner day for me, even as a new neopyte e-mini trader. Several days this month have far surpassed that day in 2002, though. While I have almost been giddy several times this month (and still am), I also feel grave remorse for the challenges our nation's economy is facing.
This month of September, 2008 has seen several days of even greater volatility than in 2002. Volatility and Volume are the two main market conditions e-mini traders pray for….and we’ve sure gotten both this month! Even being very cautious and only trading with one ‘contract’, still what a train ride…. the market going down hill— over 750 DOW points today!
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Those politicians in Washington are really caught behind the ’8′ ball, aren’t they? I don’t know whose more to blame for these conditions, the self-serving politicians or the greedy and corrupt mortgage industry officials. Let’s hope we can sort them out and punish them appropriately.
I immediately recognized the great advantage the 'e-mini' offered over stocks back in 2002, and closed my mutual fund account and fired my stock broker. Smartest thing I ever did. Today? Yeah, …I’m concerned about our overall economy, but I have faith in America and my fellow countrymen (and, maybe even the politicians, if this is enough to wake them up!).
Things will get better. And, those ‘losses’ my friends in stocks and mutual funds have suffered aren’t real losses, until [you] SELL.
So, hang in there, America.
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