Monday, December 15, 2008
Right now, I am short long term Treasuries, short REITs and homebuilders, and long oil.
Seemingly everything I read today tells me I am Moronic.
That the worldwide demand for oil is evaporating.
That the Fed is going to start buying long dated Treasuries, so-called *quantitative easing*.
That Big Government is going to bailout commercial real estate by accepting CMBS as collateral.
That Bernanke is going to literally turn the printing presses on. That Obama is going to promulgate a $1 trillion spending program.
And, most of all, the memory of the painful July and September short squeezes....altogether the rumors and my worst fears are weaving a web of doubt in my head. I'm having trouble sleeping again.
This is the tortured, everyday mental state of a trader. So, to all you people who keep telling me I have your *dream job*....
I say you know not what you ask for. You'd never be able to pay your monthly bills with my gig.
There's a reason why probably less than 5% of the traders I first met 13 years ago are still in the business.
Actually, there are plenty of reasons.
By The Way - This marks my 1,000th post!