According to Conrad Leslie then these are the people that can console themselves for having a higher IQ.
I took major losses longing this market. So what is the point? The formulae was easy. Go long risk free, reap the gains. BUT...AHAH! It drops 10% a couple times in a quarter, well, so much for that. So maybe the shorters were trying to do the same thing?
There is something in that... 100 years of history will tell you that US markets will always go higher (eventually) so if you buy on the way down and hold then you can't go wrong. However, if you bought at the high, it might take some time to recover, but still, it will recover.
Me, being one of them. But it wasn't a "major" loss. Only about 7K. I'll get it back sooner than later. But one important lesson I've learned is that I need to stick to what I know best. Swing trading, or god-forbid, long-term position trading is not my mojo. It has always been daytrading. That's what I excel at and that's what I need to concentrate all my attention on. Wish everyone happy trading going forward, be it bull market or bear market.
Strange day, Global Dow up quite strong as is Silver and oil, still another hour to go, but not often see everything up simultaneously. Strong Global Dow has me thinking more upside yet but if it is a mkt top stm, this could just be a kind of chop signal. I'm fence sitting here right now, Thanksgiving week could be skewing things.