Regarding market fears.

All my positions are looking good this morning so I thought I would pass on some thoughts regarding comments and questions I get. One that come up often from traders like us to friends on the golf course etc.
"Aren't you worried that the market is ready for a pull-back". Another is "Aren't you afraid of another market melt-down day"
Quite frankly NO. I certainly don't have my head in the sand, nor do I ignore the news of the day. But and it is a big Butt.. You can't trade in a fear mentality. It is that simple. You can trade in an aware mentality, but not in fear. This boils down to what has carried me through some tough times and proven to be correct often enough.
Pick a good successful stock that has a somewhat reasonable PE, give lots of cushion and sell some puts. To judge a stock that fits that criteria I use the guidelines in my book and common sense.
This is one reason I avoid stocks with a pending FDA report. I don't want to live in fear of losing a lot of hard earned gains on the chance it fails and opens that morning off 15 points etc. Let the other traders make the big gamble.. Don't get caught up in trying to catch the golden ring. Just plod along like the tortoise. You will end up wealthy and happier.
Good trading all and I hope you enjoy exchanging ideas and trades.
Jerry