8 October, 2008 – Confessional

I woke this morning, took one look at the state of the US markets and walked away figuring that the buy orders suggested last night would not be a chance. I return mid-morning to see that for some ridiculous reason Aristocrat (ALL) had somehow managed to open a few percentage points higher before staging a swan dive and taking out the stops. Needless to say I was not involved. One may think this is a lucky break, but there are two issues at hand. This blog is designed to replicate the performance to be expected from The Chartist and if this knucklehead trader fails to place orders then he will fail to replicate the performance. Now this error does work both ways – we just got the lucky end of the stick today. Being unlucky means potentially missing a large trade (FMG last year comes painfully to mind) and that is a concern because its those big R trades that we hunt for. The other reason for my discontent is that I have happily preached to all and sundry that one should not concern themselves with the actions of the US markets. On too many occasions we’ve seen complete irrational follow through at our end which ended up in tears as we missed trades. So two black strikes against this humble analyst tonight.

Still no action in the account…