Don't try picking tops. It shows greed and that's bad
manners
.
It's better to wait till it's obvious the top is in, then sneak
in a small short while the others are beginning to get fearful
ie; at broken support... then wait. Add a little more on the retest
of support then again on retracements during the new trend.
Following stops... not too tight.
All of these little signals can get a boy chompin at the bit.
Having said that, I think the bulls won't give up without a fight.
Could be a slow roll over.
The low volume up this morning suggests a reversal today
wouldn't be a surprize. These divergent highs on the 60min chart
are very welcome in what looks like a 5th wave with decent
symmetry.
I think we all have a system that we believe
in. I bet we've all lost money at some point using our best system.
The reasons are always quite clear in hind sight. They usually boil
down to failing to follow the rules of our system. Whether it be
over trading, or too large a position size, or refusing to admit
when we go wrong. Somewhere along the trade line, we break a
rule.
Some people love driving... some don't! Some people love
sky-diving... some don't! Some people love business and some don't.
And, some people love trading... and ... some don't. I happen to
love the markets.
Great business people don't care about the type of business they
are in, generally speaking. A successful "BUSINESS" person could
run the most boring type of business and be hugely profitable and
satisfied. The type of business doesn't matter to the pro
businessman. What matters is HOW the business is run. Anybody
knows that you don't stock winter boots going into the summer
season. That would be breaking a cardinal rule of the
business of shoe sales. I would imagine it, not too subtle a rule
at that.
Remember years ago when you were anticipating your road test in
an attempt to receive your driver's licence. Remember how exciting
it was. The thought of "driving"! Wow! Having your own wheels( even
though they actually belonged to your folks). The excitment around
getting my driver's licence was truly a highlight in my young life.
The excitment of driving actually interfeared with my performance a
few times. I had one close call that was serious and after that
day, the excitment of driving began to diminish. After that
day it was all about staying OUT of car accidents. As the
years went on I lost that excitment toward driving cars(not
motorcycles). In my 30 years of driving cars and motorcycles, I
have crashed none. The reason is not because I am the most talented
driver out there. It's because I am alert and don't break the
rules. We all know what happens when we take chances in a car or
truck.
I found out what happened when I took chances in the market.
Unfortunately it's a very expensive way to learn something so
seemingly simple. I guess that's why they call it market tuition. I
paid mine.
I know longer think of the market as an exciting place. In fact,
the moment I start getting excited about a trade, upon further
examination I can usually identify something about it that is going
against my system rules.
Following the rules while driving a vehicle becomes second
nature with time. I wouldn't refer to driving as "fun". I just do
it because it gets me where I want to go. I view trading the same
way. It's just a business. It gets me where I want to go. Don't get
me wrong... I am fasinated by the markets, and suspect I always
will be.
If my trades are somewhat boring, and at the end of the month I
have a profit, I am succeeding in my business of trading.
The community is delayed by three days for non registered users.
R u still short?
Gold Short...
Posted by cal1 on 16th of Nov 2009 at 01:15 pm
R u still short?
Rules...
A humble opinion...
Posted by cal1 on 16th of Nov 2009 at 11:55 am
Don't try picking tops. It shows greed and that's bad manners .
It's better to wait till it's obvious the top is in, then sneak in a small short while the others are beginning to get fearful ie; at broken support... then wait. Add a little more on the retest of support then again on retracements during the new trend. Following stops... not too tight.
my point
Financials
Posted by cal1 on 16th of Nov 2009 at 11:35 am
my point
All of these little signals
waiting for 2nd pass....
Posted by cal1 on 16th of Nov 2009 at 11:32 am
All of these little signals can get a boy chompin at the bit. Having said that, I think the bulls won't give up without a fight. Could be a slow roll over.
Would be nice to see
waiting for 2nd pass....
Posted by cal1 on 16th of Nov 2009 at 11:28 am
Would be nice to see a high volume pullback this week and a failure to retest the high, with a breakdown triggering initial shorts early next week.
(please excuse my fan lines)
waiting for 2nd pass....
Posted by cal1 on 16th of Nov 2009 at 11:10 am
The low volume up this morning suggests a reversal today wouldn't be a surprize. These divergent highs on the 60min chart are very welcome in what looks like a 5th wave with decent symmetry.
Financials...
Financials
Posted by cal1 on 13th of Nov 2009 at 09:46 pm
It is possible that financials are continuing to lead.
A humble opinion...
Posted by cal1 on 13th of Nov 2009 at 09:28 pm
I think we all have a system that we believe in. I bet we've all lost money at some point using our best system. The reasons are always quite clear in hind sight. They usually boil down to failing to follow the rules of our system. Whether it be over trading, or too large a position size, or refusing to admit when we go wrong. Somewhere along the trade line, we break a rule.
Some people love driving... some don't! Some people love sky-diving... some don't! Some people love business and some don't. And, some people love trading... and ... some don't. I happen to love the markets.
Great business people don't care about the type of business they are in, generally speaking. A successful "BUSINESS" person could run the most boring type of business and be hugely profitable and satisfied. The type of business doesn't matter to the pro businessman. What matters is HOW the business is run. Anybody knows that you don't stock winter boots going into the summer season. That would be breaking a cardinal rule of the business of shoe sales. I would imagine it, not too subtle a rule at that.
Remember years ago when you were anticipating your road test in an attempt to receive your driver's licence. Remember how exciting it was. The thought of "driving"! Wow! Having your own wheels( even though they actually belonged to your folks). The excitment around getting my driver's licence was truly a highlight in my young life. The excitment of driving actually interfeared with my performance a few times. I had one close call that was serious and after that day, the excitment of driving began to diminish. After that day it was all about staying OUT of car accidents. As the years went on I lost that excitment toward driving cars(not motorcycles). In my 30 years of driving cars and motorcycles, I have crashed none. The reason is not because I am the most talented driver out there. It's because I am alert and don't break the rules. We all know what happens when we take chances in a car or truck.
I found out what happened when I took chances in the market. Unfortunately it's a very expensive way to learn something so seemingly simple. I guess that's why they call it market tuition. I paid mine.
I know longer think of the market as an exciting place. In fact, the moment I start getting excited about a trade, upon further examination I can usually identify something about it that is going against my system rules.
Following the rules while driving a vehicle becomes second nature with time. I wouldn't refer to driving as "fun". I just do it because it gets me where I want to go. I view trading the same way. It's just a business. It gets me where I want to go. Don't get me wrong... I am fasinated by the markets, and suspect I always will be.
If my trades are somewhat boring, and at the end of the month I have a profit, I am succeeding in my business of trading.
pyramid
Shorts
Posted by cal1 on 11th of Nov 2009 at 03:49 pm
pyramid
VIX HIGHER LOW?
Posted by cal1 on 11th of Nov 2009 at 03:46 pm
As the S&P500 puts in a higher high, the VIX may be making a higher low.
....couple more days at these
$VIX
Posted by cal1 on 11th of Nov 2009 at 01:54 pm
....couple more days at these levels with some neg divergance should show something.
How 'bout the potential for
$VIX
Posted by cal1 on 11th of Nov 2009 at 01:50 pm
How 'bout the potential for the slow sto 60?? Looking good. May even rane in this advance.
ishares Canadian matched for S&P500
Posted by cal1 on 11th of Nov 2009 at 01:45 pm
yes. Steve Nelson pointed it
General Electric
Posted by cal1 on 11th of Nov 2009 at 01:07 pm
yes. Steve Nelson pointed it out a couple weeks ago. It's continuing.
General Electric
Posted by cal1 on 11th of Nov 2009 at 11:08 am
... not quite holding up! Here's one big cap not participating.
I think we aren't the
Oil strange...
Posted by cal1 on 11th of Nov 2009 at 10:17 am
I think we aren't the only ones concerned with this market right in here.
IMHO
Posted by cal1 on 4th of Nov 2009 at 03:55 pm
Totally agree...
another up day
Posted by cal1 on 4th of Nov 2009 at 03:31 pm
I think we're not alone!!
60 min fan chart
Posted by cal1 on 4th of Nov 2009 at 10:52 am
RIMM
RIMM Any thoughts?? It keeps crashing
Posted by cal1 on 2nd of Nov 2009 at 04:33 pm
I believe Citi reccomended selling RIMM this afternoon.