Most of you will know that I am currently quite heavily vested in stocks. Do I think I will make money? I really do not know. In fact, I think that I have a higher chance of losing money. That is called FEAR.
Couple of people (retail traders) that I spoke to was surprised that I recently longed. Their immediate direction was : "What about the euro crisis and the fiscal cliff?" My confidant reply is that I have my stops in place.
This weekend, I attended a sharing session of fellow traders, some experienced, some newbies. Most of them seem to think that the market should be moving down. Newbies want to short. Experienced traders dare not long. Their reasoning is that there are strong resistances in many market indices.
When others are FEARFUL, be GREEDY, says the legendary Buffet.
I was feeling fearful in the last couple of weeks as I tentatively entered the market. Now, I am GREEDY.
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