SOMETIMES YOU JUST HAVE TO TIP YOUR CAP

As I sat and watched the PPT's brilliant save before Thursdays opening, I could not help but just feel like sometimes you just have to give the opponent his proper due. They are incredibly good so I tip my cap to them. This market needed a save badly, they knew it, and they did it. I think most people are realizing now the spin on the recovery is just that, and the double dip scenario is happening. Of all the people who know the real numbers, the PPT is at the top of the list. It is why they do what they do. I guess arguing against it makes me a party pooper. I just don't like manipulation of prices, in either direction. I think we should have free markets, but we never will.

Speaking of manipulation, that communist Warren Buffet had some nice comments in front of Congress in his testimony. This is not an exact quote, but paraphrasing, he said he did not think individual investors should be allowed the trade SP 500 futures with small stops in a speculative fashion. I wish I had been there so I could have rushed the stage in a bull rush. He is the poster child for what is wrong with what is going on right now. We should be free to do whatever we want no matter how stupid the next person thinks it may or may not be. Who died and left him in charge? I can bet you this, there are plenty of people that probably thought alot of great ideas were bad when they were first pursued, that is how innovation happens. If everyone thought the same thing, nothing would ever change. Wanting to outlaw someone from doing whatever they want with their money is so outrageous it is incredible that more of an uproar was not created by those comments.

What these king liberals want to do is control your ability to become independent of them. It is easy for him to stop innovation, he already has his money. How exactly is someone who has 5 large to their name going to become successful if they are not allowed to pursue their dreams. If you are a liberal reader of this blog, wake up. Your trading will be severely effected by these jackoffs if you don't get them out of office ASAP. Repubs may not be the god send, but at least they believe in free markets as well as having affairs. None of these people are clean, but take the least of the evils. Dems do not want trading, and if you investigate you will see there are legislative things out there moving toward getting rid of trading. If you want to be a trader you better damn well get these people out of office.

Now that I have gotten that out there, time to get back to the markets. I have not done much trading this week. When I have a bad week like the prior one, I like to chill a bit. One of my main goals is to not let a bad run really hurt me. Bad streaks tend to extend from my experience, as do good ones. It is not really explainable other than through my account statements. I think it likely has to do with trading scared. When you are scared, you are too cautious. You need to be disciplined when trading, but not overly cautious. Most of the time, the setups I find to be just perfect, lose. I tend to nitpick entries alot after a bad streak which is a mistake. There are no guarantees in life. Once I hit a bad streak thoughts I don't like creep into my head. I wait until I feel more balanced before engaging again. This usually takes a week or so, sometimes less.

I have made a modification to one of the things I look for to make trades during this week, which will free me up to not be so darn picky. Unfortunately, a few trades I would have been in are gone and are on their way and I have missed them. One specifically is being long the SP 500. I should have gone long during the PPT move, when it traded through Wednesday's high, but one of my prior rules forbid that entry. I do not chase moves, I either get in at my price or a pass. We could have a big up move here. I am not going to get into the details of the change I made other than to state this. I used to require all time frames to match up, and now I do not.

One trade I am looking for here is a DOLLAR short position during the next week. I will post that trade when it develops. I expect most markets to rally during the next week other than the DOLLAR. I am not sure about the Metals they may be the exception.