Just one video today… I was out for a lot of the day, away from the markets. I normally take off Thursdays, but I moved it back to Friday this week. I thought I wouldn’t miss much on OPEX day. Boy, was I wrong! What a big down day! But, I did manage to make a stock trade and a futures trade, for 2 wins. Not bad, I guess… One of these days, I will manage to really capitalize on one of these huge market moves. I never seem to get much out of them, even when I am trading.
Hopefully Monday will be a big reaction day.
[Edit: check out today's pre-market episode of Suck My Nasdaq....
... I watched it after the close, which makes it pretty hilarious when he says "Here's what I do know... the market's not going to go down." What timing!]
Watch this post's video on Youtube
Watch this post's video on Youtube
October 19th, 2007 at 6:41 pm
Hi Richard,
That is the kind of person you showed in that video that we were talking about in the room today. When he said that the market wasn’t going down today put him in the predicting camp. That is not the way to trade. Never be a market predictor, be a market follower. Follow the money, watch which way the Elephants are going and get into their tracks.
Good Trading,
Glen
OUFan
October 19th, 2007 at 7:02 pm
Hi Glen. Yeah, good advice. To be fair, in his case I think he makes strong statements like that, because he knows it makes his show entertaining when he’s wrong.
October 20th, 2007 at 11:45 am
Good advice by Glen… I fall into this trap at times… the lesson is if you overbelieve in yourself, you can lose money. I think it’s healthy to form conclusions with indicators you’ve studied to forecast market direction… but you have to know when you’re wrong.
… My prediction is the market will either move up, down or both on Monday… the SWAMI… :-)
October 20th, 2007 at 2:06 pm
All hail Swami Skyb0x! I put my money on that prediction.
October 20th, 2007 at 2:08 pm
There’s more to life than trading?!?! HERESY
October 21st, 2007 at 6:56 am
Richard - I dedicated an entire chapter of my book to your futures trading.
Hope my 2 cents is worth … 3 cents.
October 22nd, 2007 at 8:59 pm
Thanks, Teresa! I was pretty sure I wasn’t alone, but I didn’t know I represented 99% of email questions.
October 23rd, 2007 at 1:19 am
ummm yeaa! here’s a trading tip. Never take trading advise from someone who’s drinking Vodka at 9AM. and begging for BRCM to got to 50.