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OT: American Politics

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Preston said:
The best skill a bull can have is to understand bear market dynamics and know that newsflow does not always dictate price action. In other words, just sit it the fuck out. Hold cash or slowly scale into longterm positions. But if you go short, understand that the risks are catastrophic without proper risk management.
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Heh, reminds me of the time a friend of mine who I graduated University with was hired to manage the pension funds of a company (he was the top student in my year). He was unsure what to do at first so he put most of the stuff at his discretion in stuff like near cash instruments. This was like one month before "Black Friday" (Oct 1989). He looked like a genius! :ROFLMAO: Better to be lucky that good.
 
Preston said:
The best skill a bull can have is to understand bear market dynamics and know that newsflow does not always dictate price action. In other words, just sit it the fuck out. Hold cash or slowly scale into longterm positions. But if you go short, understand that the risks are catastrophic without proper risk management.
Click to expand...

You’re ok if you adjust sizing to about 1/10 as normal, because daily 100 pt moves in SPX are as common as 10 pt moves two months ago
 
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