We monitor support and resistance levels, and a set of technical indicators, in multiple time frames, in multiple markets – primarily stocks, bonds, the oil complex, and metals. We don’t waste time speculating about things we can’t know and over which we have no control. This is another corridor of information entirely – we are immersed in the markets, and our insights are about market sense, market flow, sentiment, macroeconomics, and the psychology of effective decision making.
Saturday, July 3, 2010
Friday's selloff at the close......
I have a list of rules that were given to me many years ago by my mentor and periodically i take the time to read through them. The negative activity at the close, although predictable, brought to mind one very important rule...
45. YOU CANNOT PERFORM VERY WELL FOR VERY LONG WITH YOUR SHOES NAILED TO THE FLOOR. IN TRADING AS IN FENCING THERE ARE THE QUICK AND THE DEAD.
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