Personally, I don't have much conviction either way. I certainly have an opinion on where we are going over the next three months. I can make a good case on both sides on why to buy and why to sell this level and I am trying my best to stay light, nimble, and on the sidelines until a more of a trend develops. I have a pit in my stomach and am getting angrier by the minute by trying to trade this market. I don't trade well when I am overly angry or happy so I am trying to look at the market objectively and it is not working well.
If I am feeling this way I can only imagine how many fund managers feel the same. Why not just throw in the towel and call it a year? Why keep trading away the year's profits? This month has been a non-event for me and I cannot claim too many victories. The more and more frustrated I get, the better Florida looks. Its hard to win in a choppy light environment and that's what we are trading in now.
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