BIDU Positions Up Nice

I often mention Jesse Livermore, considered one of the best traders ever from the first part of the 20th century, using the earliest form of technical analysis, reading the tape. Jesse is quoted as saying (paraphrased), "It was not my being right that made me money, a lot of people were right and still lost money, it was my sitting that made me money", or in other words, having the confidence of his convictions where others may have been right, but couldn't hold out long enough to capitalize on their calls. The main two things that allow you to do this are control over emotions which comes from having good evidence that you trust and risk management, not having a position so large that you make decisions based on the P/L rather than the trade fundamentals.

 I've held this BIDU put at a small loss and today it's up nearly 49%

The core short in the equities model portfolio is also up, but not as much as it was as I added here recently , the original short was closer +16% before I added a larger position here, but that's fine, it should pay off just the same in dollar terms.