Sep

22

The Cavalry, from James Sogi

September 22, 2007 |

CavalryAll the stock market gains this week came in 20 seconds when the cavalry arrived to save the day. But with no dip to the dippety-do, it was impossible to trade — one had to have already committed. The week before was also straight ups with gap ups and no entries there either, so the only way was to have come in holding a position as either a speculator buying during the dark days of the prior bottoms, or as a strong long-term holder unconcerned about a 10% drop in asset value. Only the holders from the dark days of August during the height of the so-called crisis benefited. That's why it went up so fast. There was no easy way. It was a tough trade. As Tsunetomo Yamamoto says in Bushido, The Way of the Samurai, the only way when faced with a choice, was to choose death and move forward with a clenched stomach.


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