Strike One

And I was wrong. I really thought we would get some sort of a relief rally out of the market today, but there was nothing of the sorts. I was faked out today along with I'm sure alot of other traders. I did some post fed buying and had some brief gains only to watch them evaporate in a matter of seconds. Not an enjoyable experience. I never initiated a position in VMI because I still have work to do on the name.

Right now I think everyone is confused. Nobody knows what the hell to do out there. What I think people are going to do is simply sell out of everything they have. Its a natural defense mechanism. I'm scared, everyone is scared, what am I doing buying stocks??? The economy is crashing, rates are too high, why would I hold stocks??? Thats my theory on what will happen. But only time will tell and like today I can be wrong again.