Tuesday, June 30, 2009

Can someone wake me up when the market does something?

Jeez, I was watching Spike late night a few days ago. And, yes, I am one of those people who REALLY doesn't watch TV unless I'm vegging at 3 am after writing my blog (like now) or whatever. Well, I was watching it and they have this show called "1000 ways to Die". Now, if you know the show, then you should see a therapist immediately, you need it, hehe. What kind of crazy world do we live in where enough people tune in to a show that shows you 1000 horrendous ways in which people actually died? And, sickest thing is, they interview doctors (supposedly) who joke about what happened to these poor saps. Jeez, louise!

Now, I'm no prude, but I was very depressed watching this, I mean, I thought that dying was when you lose $100,000 in a day trading, or you miss having a $20 gainer or five bagger cause you had to drop your kids off at school!

I guess that's 1000 ways to lose trading, instead. Hmm, maybe that would be a good show.

Do you guys and gals know that we are now francising Trendfund.com? We're working on deals in a couple of countries, talk about crazy worlds. We'll see if they pan out, but kinda cool regardless. Also, I own the trademark on the World Series of Trading and have a killer concept for it, we should be rolling that out shortly as well. Stay tuned.

The market is trading so tight its VERY VERY hard to catch stuff day to day. Intraday is even tough at the moment. The good thing is, the market is always morphing, so we had 2 years of EXTREME volatility and now we have a few weeks of very low volatility. I've said it 50 times, but key here is to be patient and pick your spots. It'll be interesting to see if we finally do get a nice pullback now that the 2nd quarter Window Dressing is over. Part of the issue with the market, in my view, is that we have so many conflicting signals. This typically would be a good time for a pullin, and we very well could get it, but then again we have earnings period here now which will garner a lot of interest as no one wants to miss another leg up if it might happen.

So, again, patience is key. And, we've got to practice it. Don't go chasing, it'll cost ya in the end.

In the meantime, I bought a new system for classes so the sound should be a lot better then it has been. It tested off the charts for those that had issues yesterday in the Psychology of trading class I did.

Stay tuned for more offers shortly!


Michael "waxie"

1 comment:

Jim Murphy said...

Wake Up Waxie, Nice call on the SRS and FAZ. We got off to a very good start Thursday! Hope the down 200+ day is a clear indication that the market is returning to the Bear Market from which it took 9 or 10 week divergence. My patience was running thin. Sounds like you and Tiny don't care for the tight sideways action that long either. Time premiums on options were disentagrating so going both long or short hasn't been very profitable for me for the last 3 or 4 weeks. Chose longs from the top 10% performers and couldn't find many trends that would last more than a few hours during the first day after they changed from hold or sell to buy. I kept the brokers busy and in business with my $8 commissions, while my accounts were dwindling. Hope you give us some of your sleeping pills the next time we run into a long narrow range market! Ring - a- ling! Wake Up, Waxie! We need your help more often. Keep the winners coming. murf