Since I got to miss all of the fun on Tuesday, today should give me a little of the missed emotion that everyone else got to feel. All kinds of prognostications out there about why we are weak today, but it simply could be that yesterdays rally was anything but inspiring and I am going to bet that a bunch of people, reminded of 1987, 9/11 etc took a shot at buying yesterday. I told myself that I was going to sit on my hands and selectively sell some things yesterday and not buy, and I am glad I made that decision. I shorted the China ETF yesterday, but not enough to make up for the losses on the books this morning. I have evaluated everything I own and whether I really want to own it or not, and thus far, I am going to stick with my plan, recognizing that it could get more painful.
Panicking has never made anyone any money.
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