October 19th, 2005
Did I begin pulling the trigger too soon???
The market reversed at around 11:00 today and bounced off the resistance levels for one of the best gains of the year (1.25-1.5%) on good volume. Again, talking heads are making sounds about the beginning of the year-end rally, the same as last year.
My wife, Jayne, says that my timing is perfect. Every time I start losing confidence and increasing the cash position, the market goes up. She’s right …. as usual. In response, she’ll start doing the opposite to neutralize the damage of my irrational, emotional reactions.
But Wilma, another huge hurricane in the Gulf, is coming and may put a damper on this new, perhaps premature, bullishness.