I wanted a crash.
Worse than that, yesterday morning when the futures opened the market much lower, I sat there like some green-horn newb trader, cheering it on.
Right at the active open.
Of course, I wasn’t short because I wanted the market to fall farther. We made money yesterday in our teaching account. As any client of ‘The Sharpe Report‘ will tell you, we gained about 11 BPS yesterday, while the market lost 34 BPS …
It’s the principle of the thing.
If I can obtain a larger spread over the benchmark after the mauling I took in the beginning of the year … I’ll take it.
We’re not completely out of the woods. There are some major levels I’m watching right around 1950 level, of which we need a daily close above that price. And a seasonally horrible October is still on the way. So I may yet receive my wish. However, the fact that the indices are not dumping with increasing speed, is beginning to tell me that this all may simply be a retest of the correction lows of August 25th.