Big Daddy,I was eaten by the bears a long time ago. I find it...

Big Daddy,

I was eaten by the bears a long time ago. I find it easier now to be in control with a shotgun instead of a pea-shooter. I use to trade sold call options over a portfolio that I bailed from 5 months ago. That had been my main bread an butter for many years. I am living off my interest now on my cash position until this settles down.

After losing big $$$$ on a trading system in 2006, I learnt that standing on a train track long enough means sooner or later your going to get steam-rolled by a iron ore train. You may pick a lot of winners but one losing position can do untold damage, not only to your pocket, but to your state of mind.

Hence that is why I now wait for a market run to commence rather then try an guess if it is going to happen. Confirmation an being a few hundred points out in the right direction is easier to follow then the rubbish we have seen this year.

I have been in every market correction since 1987 but I have not seen stars lining up like this. Like a perfect storm in monition being created an if we can get on the right-side of it, riches will follow.

Just knowing what side of it is right is the million dollar question but I feel October is going to be something we may remember for a long time to come.