My Little Blow Up

Today was suppose to be a great day. It looked like I was going to be in the company's top performer's list for the 5th straight day, but then in the afternoon I took two small hits. Instead of lightening up my shares or stop trading for a while I still went at it full steam ahead and this time I held my loser for much more room than I'd normally give it. I lost my day's profit and then some. I really haven't had a blow up like this lately, even if it's a small one. I just kind of lost my head... sigh...

The House is going to vote on the new bail out bill. Look, I understand why people feel that this bill should not be passed. Yes, this is the creation of Wall Street greed. No, we should not be in this situation. Judging from the stuff I read and watch, it feels like most everybody do not want this bill to be passed b/c the average joes should not have to pay for the sins of the greed of evil corporations. Meanwhile, people that are in the financial industry believe this bill needs to be passed. Whenever you see a fund manager or whoever they have on CNBC they all say that the bail out needs to be passed, but when you interview the John Smiths from Iowa City, Iowa or wherever that's way the hell away from New York City they are all against the bill.

What do I think? I quite frankly don't know what to think anymore. I believe the Congress should do something. That something was better regulation and accounting standards a LOOONNG time ago. I mean, c'mon, did we learn nothing from the savings & loan crisis in the 80's? Now that we're here, what do we do? I don't have the answer. Believe it or not, Congress doesn't quite have the answer. I mean no offense but no Congressman or Congresswoman fully understands the illiquid financial instruments that we're dealing with here. Not McCain, not Obama, not Pelosi. Hank Paulson has a plan but he sure didn't do a good job explaining and selling the plan. I don't want to place blame and point fingers. All I really hoping is that Congress is doing the right thing instead of simply politicking b/c we have an election coming, voting with personal or the party's agenda.

Hey, take the whole anger and greed thing out... if something is not done, seriously, it's going to affect all of us. Yes, even you who stuff money under your mattress. Without a healthy credit market business is not going to be able to function properly and the economy goes down the crapper, which translate into weaker dollar so even if you don't have any stocks, 401(k), pension plan of any kind and stuff your money under the mattress that money is going to be worth less. I fear for you, for me, for the people.