Controlling Destiny

If I were to give advice tonight for anyone on anything it would be to concentrate on controlling your destiny. We, the people today, sent a clear message to Congress with such a force that it could not be denied. A collective thought, an outcry from the population could be felt even if not heard, as Congress deliberated behind closed doors trying to decide for us our destiny; and that's where they made a mistake. Underestimating the desire of a people to do none other than to control itself rather than be controlled. We actually experienced an anti-socialist movement.

But the job's not done. Even as we rest, the planners are continuing to re-create the same unpalatable offering with perhaps sweeter words, but be warned it will be equally poisonous if not more so. What the writers of such wide sweeping documents tend to do is that if at first it doesn't work to convince, they'll make it more convoluted with more inclusions for a popular sell. That easy sell, remember they are creating it and they won't give up. This new proposition to control is far too tempting for them; much like a newly fed vampire they can feel the power pulsating through their veins. You can almost see them smack their lips with satisfaction of the kill and that's why they were so angry when victory was snatched from their jaws.

What we saw, post it's demise, was a predictable reaction of the market: sell off. The reason why is not necessarily what the government pundits were trying and could not sell. Let's consider that the companies, fund managers, and the population etc. collectively realised that this will not be an easy fix. In other words, the rescue squad did not arrive, therefore self preservation sets in and running to safety is the motto. But that's presuming we need a rescue. What's happening is no less than what should have happened several years ago if interest rates were not continually decreased, in other words the fed overdid it again. Had they not, we'd more likely be over the correction by now because, reported or not, the economy was good and we could have bore it much easier then. This experience reminds us yet again, that meddling and rescuing seldom teaches new behaviour it only makes the learning harder later.

So here we are; if we succeed in convincing Congress to do nothing, we have to bear the hardships to come, but if they do come to the rescue, we may only succeed in leaving hardships for our children.

So it's not over and it will not be pleasant. These coming days will be full of uncertainty, calamity, catastrophe for many if not all; yet it's in hard times that we rise to do our best and if we keep focusing on our best, we can again rebuild. Trading will be choppy at best and dangerous at worst. It time to take out the lessons learned in 2000:

• don't panic
• don't bet on the bottom,
• falling knives cut deeply,
• don't get caught in the avalanche,
• cash out every night,
• swings are a higher risk now,
• know and trust your experience.

Take deep breath, the world will continue to spin, focus on the now, put on music and remember that trading adds liquidity so we are doing good. Take charge of yourself and yours, keep controlling your destiny and never give away that power to anyone. So smile, say hi, be kind and be optimistic.. the collective thought is a powerful force!