The Crisis

"These are the times that try men's souls..." [December 23, 1776]

"Truly may we say, that never did men grow old in so short a time! We have crowded the business of an age into the compass of a few...[days], and have been driven through such a rapid succession of things, that for the want of leisure to think, we unavoidably wasted knowledge as we came, and have left nearly as much behind us as we brought with us: but the road is yet rich with the fragments, and, before we finally lose sight of them, will repay us for the trouble of stopping to pick them up..." [April 19, 1777]

"But to pass from the extremes of danger to safety, ... though sweet in contemplation, requires a gradual composure of the senses to receive it. Even calmness has the power of stunning, when it opens too instantly upon us. The long and raging hurricane that should cease in a moment, would leave us in a state rather of wonder than enjoyment; and some moments of recollection must pass, before we could be capable of tasting the felicity of repose. There are but few instances, in which the mind is fitted for sudden transitions: it takes in its pleasures by reflection and comparison and those must have time to act, before the relish for new scenes is complete..." [April 19, 1783].

A completely different time about a much more serious matter at hand, but I was thinking of Thomas Paine this morning and his famous quotes from "The Crisis" (a series of open letters during the Revolution) intended to strengthen the resolve of the warring public. It is I this weekend (and other longs) that need a little "bucking up".

Friday was ugly. An attempted rally from 2:30 pm to 3:30 pm yesterday was on with traders covering and trying to reverse the intraday trend, but the selling pressure was too much and they re-established their short positions near the close sending us to the lows of the day.

Monday is another day and another opportunity to find a bottom. I can only sit on the sidelines and cheer at this point with my chips already in the pot. This morning, I needed a little Thomas Paine to find courage in my conviction.