Monday, and the Capital Markets are alive and well. I do not expect too much to go on this week. It should be quiet with the holidays and everything. I could be wrong.
My weekend was good. I did some holiday shopping and thought about the whole OSIP fiasco. An insidious issue it was. One thing I read over the weekend did give me some comfort though. I have been nibbling at Getting Started in Technical Analysis by Jack D. Schwager. I think it is a pretty good book. Basic, but helpful. Anyway, Schwager says that Druckenmiller was actually short the stock market before the 1987 "downdraft." He then changed his mind and went long the day before the crash! Can you believe it? Druckenmiller knew he was wrong and quickly changed his position, went short again and made some money. Who really knows what happened. I mean this guy was running big money. I thought it was hard to change directions that fast.
What did I get from this? Well, if you want to be in this business you have to expect uncertainty. You have to be disciplined and ready to move with the Market. Welcome aboard!
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