Global economies and weak government have overwhelmed the impact of healthy local economies for years. Why did XAO rush ahead in last August into its imaginary GFCII? Why doesn't XAO crash itself in Greece Election crisis which seemed could result in EU disintegration? Could we say China has got into the way for its soft landing? Could we say US has got its rock bottom for its economies? Could we say EU has found its way to repair its critical and structural fault? Could we say 95% of losers in trading for years have declared their losses for tax deduction if they could? *** The shorters in XAO seemed worrying the covering costs more than they could make? It failed to push its number lower than that of the August 2011. Is it a sign that we have been depressed too much? What should we do as individual traders or investors? No one believes "decoupling theories" anymore, most retail traders or investors have thrown their babies with the dirty water out of the windows, and we have passed the psychological phases from euphoria to anger. What's the psychological phase? XAO rises back just after Greece Election when no policy makers, especially EU's, have made their resolution. All want to deleverage and it has gone for years. Are the cry of growth in EU are the sign that the pains are too much to go further? *** Could we get worse after the worst we believe? We need to pick up the safest targets with affordable capital in case. What are the safest target and then how to use time average and diversity to get more margin of safety so that we can sit on the train to leave away the ruins safely? It is not easy to pick up the gold ahead which others just could not see. I do feel one thing is sure we are in between depression after burning on fire and disbelief of that we could have sunny days ahead. *** The phase between depression and disbelief is a very tricky and hard to be sure phase since the crowd has the frozen heads and all of traders and investors are risk players. 1. The key is the cash in hand for the rainy days ahead and identification of the qualities. 2. No enough cash or don't know what is quality, and then you don't qualify to play in this phase. 3. The sub-keys are the time average and diversification. You could not fully trust your own judgment unless you buy the shares as the owners for growth. 4. It is wise to believe in this rainy days it is normal to get more rains if not storm or tsunami. *** I could not say I am businesslike people in the stock market which needs more time and effort after I fix my English Listening. So I could not buy and hold for growth in long term. I just could be a intelligent speculator at best. There are different types of risks for speculators and businesslike people in the stock market. There are different types of resource requirements or assets for them too. As speculators you have to know the crowd psychologies and have plans to deal with them and the reflexive relationship of sentimental, economies, and fundamental. 1. Speculation means you have to control the risks from things you don't know. 2. Intelligent speculation is very challenging and few can profit always without some big losses time by time. You have to get the relative margin of safety in the period you would like to hold and once this margin gone you have to sell. 3. Business type action means you have to get the views of the underlying business for growth, which should be calculated carefully with great margin of safety based on the long term means. Without matters we are speculators or investors, we have to zoom out for the seasons and zoom in to check we don't hold things which over-prices. *** Traders tend to ignore the wisdom and logic in the dazzling and promising of their systems. All of systems could shut down if the conditions are right. Investors tend to be passive and ignore the wisdom and logic too. Winners don't worry about the successes but do prepare for the course to run against them. Losers do worry the losses but never know how to get the money into their own pocket. The crises since the May 2011 in my portfolio has forced me to be more self-aware and environment-aware. I do want to change rather than protect my primary instincts and feel proud for my own primary instinct. *** It is a expensive business to update our own mind. It is a expensive course to get my English listening as my mother language. All of these need to get the cash income annually in the stock market. It is a challenge that need me to put half day of everyday to deal with. Once we want to get some money from somewhere we need to put time, efforts, and resources in. 1. Could I get a reasonable cash income which is trustful in the stock market while I put efforts into my English Listening and speculation in the stock market? 2. Not sure but I have to ponder about it. Have to say before the April 2011 I never question about it? It was the seed to beat myself down. Now I question myself to know where my ignorance is and how to control my arrogance to get my direct goal every year. I believe I could be more balanced and then I would have better chances to run my budget for my mind updating in the way of self-reliance.