I told you things suck

What a day! Not much went right today for pretty much anyone (unless you were shorting). I came out OK despite being long (someday I'll learn to short). I lost 1.11% as the major indexes tumbled more than 3%. I'll take it.

So far this month the DOW has lost 9.3%. The good news for me is that I've lost less than 1% this month. In all my years of trading I have always lost more than two times what the indexes lose. I was 19% in the hole back in March.

That's been OK because I've usually made 8 to 10 times what the indexes gained (in the past few years). If I can limit my losses like this and keep the gains I make, I'll be a much better trader in the long run (and I'll make a lot more money). So for me, this month has a silver lining. I've done a better job at preserving my capital, and I'll live to fight another day when the market is giving me excellent odds.

I have no idea where we go from here. There isn't much good news anywhere so there is hardly anything to move this market upward right now. The media is wallowing in bad news, and the public is eating it up.

I'm not smart enough to know if things really are that dire. But I do know the market has been through worse things and it has always recovered very nicely for people who were willing to take some risks and who were patient enough to wait out the nastiness.