Thursday, October 9, 2008

Everyone Take A Big Breath

Listen, can I just say something here for a second?

It's gonna be okay.

The stock market can crash and you can lose all your money in it, but only YOU can lose your own perspective.

People are freaking out. But don't let that mob mentality, exacerbated by the idiots on the TV, get to you.

And I'm not just talking about the market. Let's get control of our emotions with these fucking politicians. They're all assholes. Democrats and Republicans.

Anyway, here's a song about perspective. The message is, "Nothing's gonna change my world." Remember, you're in charge... keep your emotions in check.

9 comments:

Jd said...

I'm scared. The Fly scared the crap out of me. It sounds like he is smoked. Selling the SDS I was long and buying the ultra-long etf's this morning was DUMB.

Who in their right mind would want to be double long the market over the weekend.

Hold me.

Jane is scared.

Dinosaur Trader said...

Listen, everyone is perfectly freaked out. This is how these things end, not begin.

Who knows how much more unwinding has to happen. The thing that still scares me is that this is forced selling... there's nothing rational, or technical about it.

We just have to wait for it to end.

And it will end.

-DT

Jd said...

I wish I had read The Fly's post around 2pm regarding margin selling raping the market from 2-4. That might have pointed me in the right direction. I'm not going to sleep well tonight I'm so worried about the market getting completely destroyed. I have become totally bearish on the market and the economy. Now. This late. After cutting my Schwab account in half. I would normally think this means we are at the bottom, except I got long this morning and know the market plans to stick it to me until I swear off anything but day trading. Just like the Nasdaq crash, same shit, totally smoked me and I didn't log in to Schwab for a year. Could this be the bottom??

Dinosaur Trader said...

I'd feel much better about the prospects of this being the bottom had Ali Velshi, shithead of CNN, not called this area support.

However, we won't be fucking around the bottom for long. When we make the bottom, we'll only see it for a split second on a huge fucking red blade down, and then never again.

At least, one can hope. And maybe, if we're lucky, that'll happen sooner rather than later.

-DT

Rob said...

I would like to reiterate this point on a more recent post:

http://www.irrationalexuberance.com/definition.htm

Dinosaur Trader said...

You're saying things are now irrational to the downside? Or that this is still the bubble bursting?

-DT

Rob said...

Both

What took the s&p 2 years to "price in" from 2000 to 2002 only took 11 months to price in now.

I don't see much changing until options expiration unless Bush pulls out his cock on CNBC tomorrow and starts whacking off until people buy...but when it does have your buy market orders ready because limit orders wont get filled. :)

Rob said...

was cramer on today?

Pete said...

damn rob