The Down That Was Good

Down was up
and up was not

One of my problems, that I'm working on, is that I get prudent, when I need to act with wild abandon, and wild when I need to be cool.

Today, I knew - everybody knew - that the market was going down big in the morning, but might come back strong in the afternoon. There's money to be made, I thought to myself. But then I became conservative. I thought, the smart thing would be to wait it out and see what happens. Preserve my capital.

If my capital were any more preserved, it would be embalmed. So I didn't make the money. But that's OK.

Now, I want in for the longer-term bounce. So I put in an order tonight for a pile of SPY at 128.01. Make that two piles. What could happen? But I don't care. Now, when I should be worried, I don't care.