Lots of Sturm und Drang but Not Much To Show For It

Naturally I'm kicking myself for not hanging tough on my high beta shorts. Actually I'm not really. I wish I had them. They would have been killing it. But I had to cover because you just don't know how high a market can go.

What it does is confirm how close I am to making the big score.  If I keep it up, one day I am going to nail it and make the mullah.

It feels as though the market has been going nuts, but the averages are only off a little bit (actually the S&P is still up over a 1% for the year, Naz off 2.2%). Let's hope it doesn't implode upon itself because although there has been plenty of noise thusfar the damage hasn't been all the bad (unless you own the momo guys).

Why jumping on the band wagon is so tough for me

I am a natural contrarian.

I think mean reversion is etched into my DNA.

I also have a bad case of regret embedded within my psyche.

Consequently, jumping on the band wagon aka as trend following or momentum investing really cuts against the grain for me.

I am happy buying when others are selling and then riding it down, and I am happy selling when others are buying and then seeing it continue higher. But I have a hard time bringing myself to buy after the horse has bolted (even if I can see clear air ahead) and selling after a holding has been pinged. The reason is because the regret of jumping on board and being wrong, ie. having the stock go back down, or selling a loser only to see it rise, weighs heavily upon me.

I've got to cure my momentum reluctance. It is not constructive.