Since I wrote my last post, the markets have effectively gone parabolic causing one of the quickest losses I've ever had and I still haven't closed the position!
Admittedly this is one of the dumber trades I've done from a risk reward stand point given that I usually invest in situations where I have at minimum 50% upside.
In this case, what's my upside, 20%? 30%?
Dumb trade. The worst part about it, is that I knew, wrote and spoke against my betting against the market. Don't do it. Don't fight it. "The markets can remain irrational longer than I can remain solvent..."
In the last 3 years I've had 3 bad trades out of 11. Two of which were from betting against the f'ing market. Of my total loss amounts over 99% have been from these 2 bets.
GAAAAAAA!!!!! I'm a security analyst. Not a market timer.
2010 YTD Return: ~2%.