Wednesday, October 13, 2010

The Daily Note - At the Fair

Sometimes we enjoy ourselves at an activity so much that we forget when or why we started. The doing itself is addictive and a motivator. You know what I mean. Those times when you wish the party did not have to end. Like a party where the music and fun goes on and the dancing doesn't stop until you realize you're dancing alone. The markets can be like that but instead of feeling embarrassed about your lack of savvy, you are left embarrassed and perhaps penniless because of your lack of attention.

That is why I advocate peeling profits. You cannot time the markets and you may not make the most, but you will be left with profits when the market turns and often without much warning takes you out of the game.

I don't know how high it will go but the markets are heady now. It's like being at the county fair. You may see higher from he ferris wheel but will you know when the wheel turns to take you down? Taking part in the games, rides, food all combine for a heady day, add a little too much fun and too much sun and you forget about the little pony you wanted to buy. If you are not careful the fair will end, the rides shut down, the ponies will be all gone and you'll be left with only a headache and a queasiness in the tummy.

Happy Trading,Living, and Dancing

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