redbacker's tale of two economies friday, page-12

Johnaus.

Hmmm - You and Gazcan are into the pshycology of the market.

You - like myself, want to just turn off the damned screen and walk away from it for a few months.

Last May-July was a similar psycological state of affairs.

The mining tax was a dark cloud. Rudd was teetering. Same debt crisis.

We went low with panic selling, lower still with more panic and capitulation. Yet again, a final shake out with a higher low. It went on for months.

We were all weary - like now!

As most know, I sold everything on about the third battering ram in the guts's. We're in the middle of the second one now.

The final capitulation saw me close out positions in SDL at 13c, RIO I think at $58 (thousands of them).

I still have them on a watchlist which is $150k in the green, even now...pity I don't own 'em.

After came the slower - non too confident struggle out of the pit.

Anyway, I'm going on. I think Gazcan confirms what others here keep going on about about cutting losses quickly.

In my case, I have hung on to a few losers too long, I don't think there's much point in getting out now.

I have been adding here as well...albeit slowly!