As per my trading plan, I closed out all my shorts first hour of...

As per my trading plan, I closed out all my shorts first hour of trading last night, when nothing looked like coming off.

The damage of this short position that it would sell off prior to 21st Oct has cost me my entire profit from the previous quarter and I'm in negative this quarter.

I wake up to another 2% rise on the SPX and world markets seem to be comfortable enough to sustain a rise throughout the year.

This is reminiscent of 2007, where in the middle of the year there was a slight wobble as Northern Rock got bailed out (read this year's Dexia/Greece) and the markets powered ahead.

I'm now thinking the market will have a great Christmas. Next week's post Greece bailout momentum, if it carries forward will justify that. In which case, expect the market to reach the highs and possibly close the year in glory.

As for now, I think 1 week on the sidelines (my usual punishment for losing money) is in order.