Overturning the Money Tables

Oil Signals Market Peak

2010-09-18T05:42:00.000-07:00

Not So Pretty, Cutting Criticism

2010-09-18T05:23:00.001-07:00

Wealth & Trading

2010-09-15T18:45:00.000-07:00

Wealth & Trading

Been involved with this and it has been a pretty amazing experience.

Been in the free trial week and it has been moving experience. Don’t worry if you missed these, this was not sort of one time experience that’s not replicatable and I’m not talking about the winning trades. Jason has been doing some thinking about trading, wealth, etc. There’s probably a lot of people that won’t get it, this is not some new kabuke indicator. He has fused stuff from Tony Robbins with the world of trading so, for me, it’s all doubly powerful.

The question is: what kind of thinking is involved if you are really going to dare be a professional trader? Nobody has really addressed this .. until now.

Taking a Bit of a Breather

2010-09-14T18:48:00.000-07:00

Well not really. Spending two weeks with Jason Stapleton at http://www.4xtraderslive.com/ in his free two week class. I've resolved to really professionalize my trading I'm going to hammer out my system and test it before taking any more live trades.

Also, I'm in the midst of switching brokers so more on that later.

It's A Fool's Rally

2010-09-10T19:05:00.000-07:00

FOREX: Expect Pickup In Volatility | Kathy Lien | FX360.com

2010-09-10T17:47:00.000-07:00

FOREX: Expect Pickup In Volatility Kathy Lien FX360.com

Bulls Growing Weaker

2010-09-09T18:20:00.000-07:00

Should I use a Trading Goal

2010-09-08T16:20:00.000-07:00

From The Trading Zone

The question of whether or not to set a daily financial goal in your trading has come up more times than I can count.

Whether it be in the chat room or member training, it is a trading topic that comes up all the time.

Simply put, trading without a goal is akin to competing in a sporting event without keeping score. At the close of the market the bell is rung, the competition ends and everyone tallies their points or counts their profits (or loss).

While traders are often told and taught to trade without emotion, it is specifically the emotion of fear of loss that can keep a trader out of trouble.

In my opinion and in my experience every trader should set a reasonable and achievable daily goal and stop (or adjust) trading once their goal is achieved.

Newer traders should set a goal low enough so that it can easily be achieved 4 of 5 trading days. That goal can be as low as 1 or 2 points.

While stopping to trade once a goal is reached may not be the way to maximize profits in the short term, it will serve to dramatically increase profitability in the long run.

Too often I have seen a trader earn substantial profits from the morning trade, profits great enough that when annualized would place the trader securely in the 15 % of consistently profitable traders, only to see them return those profits to the market in the afternoon session.

So where is the downside of setting a goal and moving to a sim account.

Ego and poor guidance in my opinion are the culprits. A trader who says ‘I am playing with the houses money’ as a justification to risking an entire day of profits in my opinion has adopted a gamblers mentality that will destroy a trading career.

A trader who asserts that the market has not yet reached it’s low or high for the day and must therefore keep trading, has put his ego before his profits.

What matters at the end of the day, is that you have more money in your trading account than you started with.

What matters is what You are doing and not what the market is doing.

If the market rallies 50 points but you are not in the trade, then the move is irrelevant to your p/l.

If the market moves just 3 points and you grab those and make a 3 point profit, that is relevant.

If the daily goal you have set is 3 points and the market moves another 50 after you exit the trade, well guess what .. Exactly irrelevant.

When the market decides to deliver your setup that locks in your daily goal can happen at any time, ideally one would think this would be best at the open. However an undisciplined trader who is trading without a set goal, may continue to take unnecessary risks and end up in a loss position.

So why work twice as hard to earn half as much?

Set your daily goal and earn twice as much for half the effort.

Stop trading when you reach your daily goal is most important for newer traders as they build their confidence and build their trading accounts.

2010-09-08T16:14:00.000-07:00

From Forex Crunch

I feel that something equally important as the strategy that one uses to trade with is the psychology. Trading (especially forex) is not an easy thing to do and it can be disheartening when losses occur. I wanted to give you something to look forward to so you know what’s required to become successful.

The following video is inspired by an anonymous statement from a trader who outlined the 5 stages traders go through before becoming successful. I’ve made several mistakes during each stage, which you may be able to relate to, before making it through and my hope is that you honestly assess which stage you’re in and decide what you need to do to get to the next one. I hope that this provides you some certainty and a pathway to make it as a successful, profitable, forex trader. With that, keep at it and remember to keep focusing on your goal and make the right decisions- then you’ll hit your target.

Happy Labor Day

2010-09-06T03:57:00.000-07:00

The world fx markets are humming right along without the USA as we take a little rest. I am up early and trying my new broker and testing a 5 minute trading strategy on a demo account. I'll blog more on that later.

Learn Forex – RSI as a Forex Trend Indicator

2010-09-04T06:52:00.000-07:00

courtesy of http://www.fxpath.com/

James Chen is a "stay with the trend guy." He has a great site with tons of free stuff all about trading forex.

Here's a neat little post about RSI. I have to admit I've spent tons of time staring at indicators about which I have no education. Here's a little education.

Learn Forex – RSI as a Forex Trend Indicator

Used in context, watch the videos I post from the guy at Perfect Stock Alert. He uses RSI, the slow Stochastics and a little MACD to figure everything (and with great precision.)

Also, here a little video link on the subject from Deutsche Bank.

Free Email Trading Course from MarketclubLesson Two : Trading the Trend

2010-09-04T06:29:00.000-07:00

Lesson 2 - "Finding A Friend In The Trend" The trend is where the big money is made in trading. This lesson also covers false breakouts and how you can avoid them.
Understanding trend is the single biggest element to successful trading. I've done quite well in years where I have kept on track of the major trend. In other years, where I was not so attuned to the market .. it was a disaster.

One thing that has shocked me in the world of forex trading is the obsession with counter-trend trading, playing reversals, tring to pick tops and bottoms, ostensibly acting as if you are smarter than the market. In some of the analysis webpages, we're talking major players, brokers, people with thousand of clients, this seems to be all that they do. It's become one filter I use to judge whether I want to allow people into my Twitter on onto my reading list.

Oh they'll do great during the period when the trend is changing or indeterminate. And you'll feel like crap when the whole market changes on you (Like I did in that last Euro trade.) But the rest of the time, they're fighting against the tide, always seeking a trade. Whereas, the trend trader will take a lump and then lie in wait for the next big thing.

Trading what you think

2010-09-03T19:31:00.000-07:00

Markets Remain In Counter Trend Mode

2010-09-02T15:34:00.000-07:00

Free Email Trading Course from Marketclub - Lesson 1 Psychology

2010-09-01T18:34:00.000-07:00

Taking a free course is a good way to learn about trading. I took this some time ago but finding myself in a position to retrain myself on the fundamentals. Here's a preview of Lesson 1 from Market Club founder Adam Hewison

Most traders don't realize just how important the role of psychology plays in trading. Successful traders know thattrading is more than just buying and selling a market. It requires a complete understanding of what is going on in the market and in other traders' minds.

Trading is full of guys. And I think the retail side is full of guys, sitting along staring at their screens. It is tempting to get sucked into this private little world, away from job, away from the wife, away from the kids. A solitary little oasis. The problem is that this sets up a flawed view of trading.

When trading you are in a vast crowd. See it all as personal just don't take it as personal. I've spent some time listening to a professional psychologist with a speciality in coaching traders. She has urged us in the seminars to see the price action in a personal light. Get a feel for what the crowd is thinking. Think about the person(s) on the opposite side of your trade.

In particular, this first lesson is a real area of weakness for me. Telling that a floor tarder with deacdes of experience places this first in his free course. You see, I just did it. I didn't just blindly accept the first emailed lesson as is. I saw it in personal light (what does Adam this is of primary importance) , but I didn't take it personally (Adam is insinuating I suck at trading).

Exuberance Returns to Equities and EURUSD but this Run is Likely to Collapse - DailyFX September 1, 2010 - ForexTV.com

2010-09-01T16:26:00.000-07:00

Exuberance Returns to Equities and EURUSD but this Run is Likely to Collapse - DailyFX September 1, 2010 - ForexTV.com

Trading Masterclass - Crude oil not likely to go up soon

2010-08-31T16:11:00.000-07:00

A fun little video from some people calling themselves Cantos.

Actually, I've been having great fun in option land playing this sideways action in oil trading calender spreads the high and low ends of the sideways channel.

Selling the Euro

2010-08-31T15:44:00.000-07:00

Actually this is a double take. I shorted this AM but biled just before the 2pm FOMC meeting announcement. Took a 13 pip hit, maybe that was more due to nervousness on my part. The TWITTER feed reveals my re-entry.

Probably a mistake to be doing this as it smacks of pure day trading. My entry this am was not so good. But, I'd be up 20 pips right now if I had just stuck with it, even with this crap entry. Gotta work on that.

Look At The Overall Trend

2010-08-31T15:16:00.000-07:00

Why Weekly Charts Work

2010-08-27T17:20:00.001-07:00

Want to trade like Adam? Click here for FREE lessons.

Smells Like 2008 To Me

2010-08-26T18:26:00.000-07:00

Forex Trading Technical Analysis (2010/08/26) USD/JPY Retracement within Downtrend

2010-08-26T18:03:00.000-07:00

James Chen is one of my favorites, very solid analysis Check out his site by clicking the title which is linked.

Forex Trading Technical Analysis (2010/08/26) USD/JPY Retracement within Downtrend

Short that USD/JPY

2010-08-26T16:41:00.000-07:00

Been eyeballing shorting the USD/JPY as my next maneuver. I'm actually trading both currencies ... the dollar may come back down to earth irrespective of the goings on in Japan. The damn may well have been broken as far as Yen support via threats from their government to depreciate their own currency (weird huh?)

Same game, very mechanical. (click photo to enlarge) MARKETCLUB is saying short this thing and the Guppy 4 hr is identifying a clear cut down trend with its longer averafe and the short term moving averages popped and bunched up. I guess I could have shorted this last night but my trading brain was exhausted.

I kinda felt a twinge of regret over not taking an obvious short in USD/CHF back down to that support but, oh well, my first month of FOREX trading is wrapping up as a profitable one.

Profit target on this trade is the lows (of course.) Same ole, same ole. I hope to always be taking the excitement and drama out of this trading business. This would be something like 75 pips or something.

Counter Trend Bounce Potential, Advance Stops

2010-08-25T15:38:00.000-07:00

More Selling Ahead

2010-08-24T17:13:00.000-07:00

Ignore Mr. Christian from PerfectStockAlert.com at your own peril. He even confirmed by own analysis blasted out on TWITTER that GOLD is indeciferable at this point: people flocking to it, people fleeing it, governments messing around with it.

Lower lows and lower highs, that mean BEARISH. Get over it.

It blows my mind in the FOREX world when you have people looking at charts that look just like the Dow Jones or like the Hang Seng .. and they say to themselves (and the world) "Hey, buying opportunity, here." Insane just insane.
I'll stay patient and stay with the trend thank you very much. I don't care if the Pound, Euro or Aussie bounces off support .... the market is bearish .. people are selling that stuff.

Back at It

2010-08-24T16:37:00.000-07:00

If you observe the Twitter Feed you can see now MARKET CLUB blasted out a freebie over Twitter. It caught my eye about an hour later and I decided to go along with the shorting of GBP/USD.

Looking at the Guppy system entry , this was not exactly an optimal entry as the price had popped but you don't see that bunching up of blue lines. I drove home thinking ... "oh boy, here comes a loser". But this pair just kept chugging down to 1.54 which is a key level of support and has been for days.

As I write this, its 6:28 pm, I've already sold off 1/2 when she got down to support for 47.3 pips of profit. The stop has been set to break even plus a few dollars to cover commissions. There's a case to be made for this pound to go much lower and that sceario will be covered in the next post.

This trade is at that point where you really do not know what is going to happen. The stop is inside the size range of the last bar .... in other words it's tight but I'm not losing a dollar on this trade. This pair has made an awesome run and if I had caught that TWEET from MARKETCLUB then I woulda got more like 100 pips on the first have.

It's important to be all about managing risk, taking risk off the table. This helps keep your mind clear.

Ended that USD/CAD

2010-08-24T13:02:00.000-07:00

I tried to twitter my exit from USD/CAD by exporting the trade to twitter via MYTRADE, the trading community embedded in the thinkorswim platform but I can see that that did not work.

I exited @ 6:33 am EST as it blew past the profit target #1. The report came out at 8:30 am and it was pretty bearish on Canadian retail. The pair blew past profit target #2 but then pulled way back.

It wasn't really an easy decision but I knew that those reports can do some crazy things. In the end I got 43 pips on the first half and then 118.2 pips on the second half. Not bad considering that that I'm not doing this full time, staring at a screen.

If USD/CAD retraces a bit and MARKETCLUB trade triangles are telling to keep shorting then I'll re-enter with an eye on my trust 4hr GUPPY study. That may happen tomorrow sometime.

Inverted Hammers

2010-08-23T19:52:00.000-07:00

Pay strict attention to Mr. Christian from Perfect Stock Alert

Pros and Cons of the Trading Lifestyle - MoneyShow.com

2010-08-23T19:35:00.000-07:00

Pros and Cons of the Trading Lifestyle - MoneyShow.com

This is kinda daunting but some of the negatives he mentions are actually positives. Like, the interaction thing. I have a family, I don't need coworkers in my life 10 hours a day. My life is already full of people.

Oh Canada

2010-08-23T16:28:00.000-07:00

First things first ..... the Loonie is really the USD/CAD. The way it works when you purchase a contract of this pair is that you are buying U.S. dollars against the Canadian dollar. At first blush one may thing that there would not be much going on between this pair but au contraire mon frere! As respective top trading partners, there's tons of action although the spreads (difference between the bid and the ask) aren't as tight as I would like.

And yes, I have checked in with other brokers ..... this could be a whole series of posts on this blog.

There does seem to be a correlation between commodities and especially oil and the Canadian dollar and the oil is traded in dollars .. I'll post more on this later but safe to safe to say ... when oil tanks this pair rises and vice versa. This is just one fundamental factor. I'm no fundamentalist although I keep abreast of the news flow on the pair that I am trading. The news is in the charts but one needs to keep attuned to what is going on if only to stiffen one's resolve in the face of a wavering position.

I tend to set loose stops but I do make projections and see if a case can be made for a 3:1 risk to reward ratio. I've marked primary and secondary targets in flourescent green. This money management, a necessary practice. You can just sign up for MARKETCLUB and let loose positions while you wait for the next trade triangle. Its not that simple.

In this loony trade I already took some profits 43 pips in and set the stop at break even plus $2 to cover some commissions. The USD/CAD has a good chance of making it to thos green area(s) but you gotta pay yourself along the way. On this trade . this happened just 6 hours in but I'm not a forex day trader. Those 43 pips could have taken 3 days and that would have been fine.

Looming on the horizon at 8:30 Eastern Standard Time are some economic reports that may have a major effect on the pair. A big report can fling your position around by 100 pips, or .0100, so that can bounce you out of a good trade REAL QUICK. There's a real possibility of that happening and then there's the chance that the report will drive things in my favor, in which case, I will continue to ride this trend.

Short That Loonie !

2010-08-23T15:53:00.000-07:00

Well, I've talked about it for months now but it is high time I execute on my promise (or veiled threat) to live blog my trades. I did this a bit on the blog I ran inside INVESTOOLS but my subscription ran out and I really did not have the money to renew so I said goodbye to them and resolved to fire this blog up.

I don't pretend to be a master trader. This blog will always be a item published (honestly) by an average shmoe trying to make a little extra coin in his IRA and in his puny margin account. Things have gone well for me this year as I am teetering on 20% gain in my IRA after having been virtually flat as late as May. Got my head screwed on straight by tapping into some good analysis which I will feature regularly here.

As mentioned in other blogs, my forex goings on are based mainly on daily signals from MARKETCLUB but the actual entires will more likely be done on my own accord using 4 hr charts using the GUPPY method. Nothing fancy here just buying on the dips on longs, selling on the pops on shorts.

This is what I was looking at ...... (click to enlarge)

Classic pull back and purchase on the cessation of selling. I think the GUPPY maze of moving averages displays this fairly well.

Note: I use thinkorswim on a black background with white OHLC bars. My GUPPY study, is reversed in that the blues are the short time frame and reds are the long time frame and I will fix that later.

I used a sell stop a few pips above the action just to ensure things were going my way. Follow my TWEETS on the left for the gory details. I use somewhat or a "catastrophic loss" just in case something drastic happens but it is mostly mental as I watch the action hour to hour using my IPHONE even whilst working away at a day job.

Hmm .. now that I think about it .. there's many elements to this trade.... so much to blog ....

Shorting via Guppy

2010-08-22T06:36:00.000-07:00

I programmed the moving averages into my think or swim and added a twist. To help visualize the movement a bit I shaded the long and short waves of averages with the lighter tone being the shorter of the group (closer to the price action.)

I screwed it up a bit by having the red group the long term and the blue group as the short term. I'll fix that later. For my account size and planning, I like to use a 4 hr chart as this fits in with my Daily Trade Triangle system that I get from MARKETCLUB. It also seems like most active swing trader types use this 4 hr window to screen out the noise but stay close to the action at the same time.

In a way, I must say, this is just visually appealing, it looks cool. It beats you over the head that a pair is not moving, meaning that you should not trade (necessary info for newbs to forex like me.)

Guppy Traders

2010-08-22T06:29:00.000-07:00

From Guppytraders.com

GUPPY MULTIPLE MOVING AVERAGE ™

This indicator was developed by Daryl Guppy. It is fully explained in TREND TRADING. Captures the inferred behaviour of traders and investors by using two groups of averages. Uses fractal repetition to identify points of agreement and disagreement which precede significant trend changes.

APPLICATION

Applied to understand the nature and character of the trend. Used to assess the degree and extent of trading activity. Excessive trading activity can destabilise strong trends. Trend analysis enables more effective selection of appropriate trading strategies such as breakout, trend continuation etc. Can be applied to long side and short side trading. Can be applied to intraday trading. Also used for longer term investment style analysis.

TACTICS

Join established trends at points of price weakness
Join established trends breaking to new highs
Trade breakouts using rally dips and rebounds
Trade downtrend rallies as rallies rather than trend breaks
Recognise trend breaks as they develop

RULES

Degree and nature of separation in the long term group define trend strength and weakness
Degree and nature of separation in the short term group define the nature of trading activity.
Degree and nature of separation between the two groups of moving averages define the character of the trend.
Compression shows agreement on price and value.
Compression of both groups at the same time indicate major re-evaluation of stock and potential for a trend change
Trade in the direction of the long term group of averages
The relationships between the groups provide the necessary information about the nature and character of the trend.
Do not use as a moving average crossover tool

ADVANTAGES

Enables effective analysis of the trend environment
Improves selection of the appropriate trading tactics
Better understanding of trend strength
Effective evaluation of unusual price movements, such as dips and spikes
Effective understanding of trading activity and behaviour

DISADVANTAGES

Not effectively applied to trend less stocks
Cannot be applied to all trending stocks
Do not use as a moving average crossover signal

Learn Forex – Guppy Multiple Moving Averages (GMMA) in Forex Trading

2010-08-22T05:09:00.000-07:00

Learn Forex – Guppy Multiple Moving Averages (GMMA) in Forex Trading

FXPath has bunch of articles in FX trading and analysis. This GMMA method sorta caught my eye and I've started to investigate it as an entry tool although my analysis tool is still Market Club trade triagles.

The FXpath web site links to guppytraders.com and I'll be posting excerpts from that site which give a sense of what is going on. My methodology is already set but in between trades I like to look at new ways of looking at things. And admittedly I let my unconscious mind tell me what strikes my fancy and what does not.

I listen to my instincts. More on that later.

Learn Forex (FXpath.com) – The GMMA, or Guppy Multiple Moving Averages, was developed by Daryl Guppy, an Australian trader. See the accompanying EUR/USD chart with the GMMA set of moving averages overlaid on top. Used by many forex traders, this multi-faceted indicator combines two different sets of moving averages. One set (the longer-term moving averages: 30, 35, 40, 45, 50, and 60 periods) represents a currency pair’s long-term traders, and the other set (the shorter-term moving averages: 3, 5, 8, 10, 12, and 15 periods) represents a currency pair’s short-term traders. There are several ways to interpret the GMMA, the most recommended of which has to do with looking at the separation between each individual moving average as well as the separation between the two sets of moving averages. These separations reveal vital information regarding trend strength, both short-term and long-term, as well as pullbacks within a trend and potential impending changes in trend. They can also provide specific trade entries and exits in the direction of the prevailing trend. For more detailed information on this dynamic indicator and how it can be applied to forex trading, please click on the following link: http://www.guppytraders.com/gup329.shtml .

James Chen, CTA, CMT

Greece Enters Death Spiral

2010-08-21T05:30:00.000-07:00

Greece Enters Death Spiral

Real Estate & the Economy: Death of the 'McMansion': Era of Huge Homes Is Over - CNBC

2010-08-21T04:46:00.000-07:00

Real Estate & the Economy: Death of the 'McMansion': Era of Huge Homes Is Over - CNBC

6 Confirmation Sell Signals

2010-08-20T18:49:00.000-07:00

Trading Analysis - Gold 'may be turning'

2010-07-28T16:18:00.000-07:00

FX: Knowing When to Trade | Kathy Lien | FX360.com

2010-07-10T15:52:00.000-07:00

FX: Knowing When to Trade | Kathy Lien | FX360.com

Larry Asks: Why Keep Paying?

2010-06-26T15:36:00.000-07:00

Why Keep Paying?

Bull Trap Spotted in the DJIA

2010-06-16T17:29:00.000-07:00

Trading Analysis - Commodity death cross 'confirmed'

2010-06-16T17:27:00.000-07:00

More Gems from Elite Trader

2010-04-10T16:59:00.000-07:00

* Successful traders adjust their trading style, trading system, holding Period, and exit strategies based on the current market conditions. This is a process I refer to as market adaptive trading. It is better to Learn how to adapt to the market rather than running from one trading idea to the next looking for the next super system. Being frustrated that the market is not doing not what you want often leads to losses. The market does what it wants, we just need to adapt to it. This will take time to learn, be patient. Read this paragraph again.

* As a trader I do not care which way the market moves, I can make money either way. It is important to be able to quickly react to whatever the market does and not be emotionally attached to any particular choice.

* I cannot control what the market does, so I have a plan for whichever path it picks and then trade the plan.

* Successful trading is not about predicting what the market is going to do. It is about knowing how to react to whatever it actually does.

* Always be thinking about taking and protecting profits.

* If you are not sure what to do, exit the position. There will be other good setups.

* You do not need to trade every day. Let the setups come to you and take the best ones. When the market is moving there lots of good setups to trade. If there are few setups, or most are failing, then listen to the message of the market.

* Do not rush in, there is plenty of time to get into a tradable move when the market changes. If a trend is worth trading, then by definition you do not have to be in on the first day (minute).

* Never enter a position without a plan for exiting.

* Do not count your chickens before they hatch. You do not have a profit until you are back in cash.

* Never trade with money you cannot afford to lose.

* Trading is not a team sport. Stay away from chat rooms and financial TV. Seek the truth, not support from others with your point of view.

Will Oil & Natural Gas Prices Reconnect?

2010-04-10T16:22:00.000-07:00

Not sure how I gravitated there but I conducted most of my simulated trading on crude oil using the Chicago Mercantile Exchange's Crude and Crude mini contracts. More on this later, but I really hit it well in my system with crude (more on that larer.)

I had always heard that natural gas prices bore a natural correllation to oil prices as industries could just switch between the two and supply was tied between the two as they are often recovered from the earth in tandem.

But not recently ..... taking a closer look at nat gas on dull oil days ... gas would be rocking and rolling, with no correllation to the dollar either.

Wall Street pit looks at the issue.

(image from wallstreetpit)

Interesting Insight

2010-04-10T14:57:00.000-07:00

Since trading is the chief activity I engage in from an economic perspective and speculating about macroeconomic is beyong my ken ... this blog is going to evolve a little into some really nitty gritty stuff about trading the markets.

I had been running a detailed about trading in an investor community that I will be leaving soon (I think) so much of tht content will be coming over here.

This is an interesting tidbit that someone posted over at elitetrader.com . There's a lot of a-holes over there who claim to be hotshot traders while they are really blowhards who've never placed a trade in their life. But every once in a while someone chimes in and I just know they are real deal.

I am sure the mindset of a newbie has not changed since I started 29 years ago, trying to make methods that have the greatest profits. Greatest profits equal huge drawdowns much more risk. I spent years trying to make this tougher than it is, forget about redesigning the wheel. I now concentrate on lowest weekly losing percentages, how to get to a breakeven stop as quickly as possible. I trade for breakeven all day long, then it is a risk free trade and the market will say when I get money. I don't try to beat the market, I let the market give me what it feels like.

Controlling losers as a focal point and letting the market provide the winners from a risk free position .... I could get better at that.

Mr Tax Writer Tax Evader

2010-03-29T13:59:00.000-07:00

Oh those silly Tea Party people, why are they so upset? They must be racists! Or maybe this is the reason.

Sarah's Tea Party Convention Manifesto

2010-02-07T05:08:00.000-08:00

I've been somewhat non-committal on Sarah Palin but this 8 part video is a pretty good rundown of the thinking of the "Tea Party" movement. Democrat analyst Bob Shrum called it a "masterful excercise in paranoid politics." He's scared. Listen for yourself. Your may not agree with her point of view but its just a bunch of Constitution-talk and that is what is making the communists and their acolytes nervous.

They removed the Constitution from the schools' social studies programs but people are still going back to it.

Coakley's Downfall

2010-01-18T16:15:00.001-08:00

America Rising: An Open Letter To The Democrats

2010-01-16T11:30:00.001-08:00

1941 General Yamamoto after the attack on Pearl Harbor, "I fear we have awakened a terrible giant."

Pelosi Politburo Emasculation

2010-01-16T11:22:00.000-08:00

MOVE YOUR MONEY

2010-01-09T15:24:00.001-08:00

http://moveyourmoney.info/

Adios BofA!!

2010-01-09T14:28:00.001-08:00

Good Resolution for the new year.

Ali G - Economics and Selling Stocks High

2010-01-09T13:53:00.001-08:00

SNL Rips Lowbama

2009-11-27T06:28:00.000-08:00

Obama Unemployment Growth Plan

2009-11-27T06:13:00.000-08:00

Ratigan: Goldman Sachs doing God's work?

2009-11-19T16:16:00.001-08:00

Their God is money and the money came from us.

First Grocery Stores Begin To Accept Silver!!! G4T is there!

2009-11-19T04:12:00.001-08:00

Liar, Liar, Economy is not On Fire

2009-10-31T05:13:00.000-07:00

This Explains Everything

2009-10-31T04:20:00.000-07:00

Madoff: Had 'too much credibility' with SEC

Bush SEC "Idiots", Obama SEC "Dear Friends"

Overall, Madoff’s conclusion is that financial industry is “by and large…honest,’’ adding that “you can’t have the transparency the regulators want you to have because it’s proprietary and detrimental.”

“The thing I feel worst about beside the people losing money is that I set the industry back.”

Obamadrama

2009-10-25T04:13:00.000-07:00

It is time to out-Obama Obama. Stop being nice, threaten them, laugh at them and marginalize them. They know that they are fantasyland a-holes. Time to bring in reality.

Obamadrama

Is Obama Poised to Cede US Sovereignty?

2009-10-24T11:06:00.001-07:00

The Hand of Soros.

The Model Which Will be Driven Over Our Necks

2009-10-16T03:48:00.001-07:00

NEW YORK (CNNMoney.com) -- General Motors Corp. has struck a deal to sell its Hummer truck unit to a Chinese industrial business, the two companies confirmed Tuesday.

Privately owned Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., based in China, will acquire the truck brand, which has been part of GM since 1999. Tengzhong said it plans to keep Hummer's management team.

China buys the world - Money machine (1) - FORTUNE

2009-10-16T03:42:00.001-07:00

China buys the world - Money machine (1) - FORTUNE

Shared via AddThis

Insurers dropping Chinese drywall policies

2009-10-16T02:44:00.001-07:00

But I am sure they got the lowest price for that drywall!

Sub headline: What cheap Chinese shit does to America / Benefits of globalism.

Insurers dropping Chinese drywall policies - Santa Cruz Sentinel

Shared via AddThis

Captain Ron's docking manuevers

2009-10-16T02:15:00.001-07:00

Looks like that Sea Ray needed Captain Ron.

Searay Salvage: Everything is going to be all right

2009-10-16T02:03:00.001-07:00

Well, this is one way to salvage a boat.

Metals Like Copper, Silver, and, Gold: The Number One Reason to Own Them

2009-10-10T04:37:00.001-07:00

Been trading GFI, a South African gold miner all year long.

David Wu "Fighting To Protect Oregon's Environmental Legacy..."

2009-10-10T04:01:00.001-07:00

"Environmentalist" congressman from Oregon driving alone in his Suburban. Well, he has two kids after all!

Hitler Misses the Bull Market

2009-09-15T18:26:00.001-07:00

I bailed in June so I feel a little like Adolph.

Ireland Gets It Right

2009-08-29T14:50:00.000-07:00

August 27th, 2009

A Lesson from Across the Pond

By Howard Rich

As states like California, Illinois and New Jersey struggle to make up for steep multi-billion dollar budget deficits while they totter on the brink of insolvency, there is one option for reducing those shortfalls that is making real headway across the Atlantic Ocean.

It all revolves around cutting the public sector. It's time to try it here.

Ireland is faced with a €20 billion deficit and borrowing €400 million a week just to keep afloat. Colm McCarthy, the chairman of An Bord Snip Nua—a cost-cutting bureau in Ireland—knows the stakes. And he sees no way around cutting public sector pay by some €5.3 billion. Government officials agree. So far, the left-of-center government refuses to rule anything out in the Bord Snip report.

Writes The Sunday Times on July 19th, "Ireland is like a household that has been living beyond its means and now finds itself deep in hock to the bank. Unless we show a willingness to reduce our spending, [international] lending may dry up, forcing us into the arms of the European Central Bank which will have to mount an IMF-style rescue to prevent a euro currency crisis."

Ireland is not alone. Poland just announced a cut of 12,000 government employees. No silly furloughs or dodgy accounting tricks. A straight reduction in the number of public sector workers. And the government warns that if revenues do not increase, further reductions will be forthcoming. Other nations in Europe are actively considering similar or even deeper cuts.

The basic problems Ireland faces are quite similar to those in California, New York and other states in the U.S.: Public sector workers make far more than their private sector counterpart.

An October 2007 survey from Ireland's Central Statistics Office showed that the average hourly earnings in the public sector were far greater than in the private sector. Average earnings per hour in the public sector were €26.67 compared with €18.07 per hour in the private sector. Public sector wages are 48% higher.

And how do California, Illinois and others match up?

According to the Bureau of Labor Statistics' recently published study for 2007, in California, which is still trying to climb out of its oppressive $26 billion deficit, average annual income for state employees was $56,777 versus $49,935 for the private sector, a 14 percent gap. In Illinois, a similar story emerges: $53,925 for state workers, and $48,006 for the private sector, an 11 percent split. New Jersey: $57,845 average state salary, $53,590 for private sector workers, at an 8 percent difference. And these differences don't take into account the excessive fringe benefits enjoyed by public sector workers. The bottom-line is that we pay the public sector more, in some cases far more, than corresponding workers in private business.

Nationally, the story is even worse. Federal workers made on average $64,871 in 2007, with private sector workers making a meager $44,362, so public sector wages in the federal system are 46% higher.

If California, and other spendthrift state governments ever hope to emerge in the black, they must now implement what some may consider draconian fiscal measures. Cutting public sector pay makes the most sense. In California, for example, if workers received a 12.1 percent pay cut, leveling the playing field with the private sector, the state would save $3.1 billion.

Cutting the total workforce down by 10 percent is a real move that saves $5.4 billion annually and many billions more over time. Similar approaches would save taxpayers annually $1.3 billion in Illinois and New Jersey.

The fact is, the Irish are on to something. By facing the reality of their situation head-on and acting in a responsible manner, they are far more likely to weather the financial storm than are the compulsive spenders in the US. It is high time we embrace the pluck of the Irish here.

The author is Chairman of Americans for Limited Government and Liberty Features Syndicated writer.

http://blog.getliberty.org/default.asp?Display=1507

America - Where is Your Money ?

2009-07-25T03:46:00.001-07:00

Florida congressman Alan Grayson laughs in Ben Bernanke's face - priceless!

Too Small to Succeed

2009-06-13T14:14:00.001-07:00

They're coming.

The Man in The Arena

2009-05-16T15:10:00.000-07:00

The Man in the Arena

It is not the critic who counts; not the man who points out how the strong man stumbles,or where the doer of deeds could have done them better.The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

Shame on the man of cultivated taste who permits refinement to develop into fastidiousness that unfits him for doing the rough work of a workaday world. Among the free peoples who govern themselves there is but a small field of usefulness open for the men of cloistered life who shrink from contact with their fellows. Still less room is there for those who deride of slight what is done by those who actually bear the brunt of the day; nor yet for those others who always profess that they would like to take action, if only the conditions of life were not exactly what they actually are. The man who does nothing cuts the same sordid figure in the pages of history, whether he be a cynic, or fop, or voluptuary. There is little use for the being whose tepid soul knows nothing of great and generous emotion, of the high pride, the stern belief, the lofty enthusiasm, of the men who quell the storm and ride the thunder. Well for these men if they succeed; well also, though not so well, if they fail, given only that they have nobly ventured, and have put forth all their heart and strength. It is war-worn Hotspur, spent with hard fighting, he of the many errors and valiant end, over whose memory we love to linger, not over the memory of the young lord who “but for the vile guns would have been a valiant soldier.”

To say that the thriftless, the lazy, the vicious, the incapable, ought to have reward given to those who are far-sighted, capable, and upright, is to say what is not true and cannot be true. Let us try to level up, but let us beware of the evil of leveling down. If a man stumbles, it is a good thing to help him to his feet. Every one of us needs a helping hand now and then. But if a man lies down, it is a waste of time to try and carry him; and it is a very bad thing for every one if we make men feel that the same reward will come to those who shirk their work and those who do it.

- Theodore Roosevelt, 26th US President

Cashin Gave a Month's Warning

2009-05-05T16:28:00.000-07:00

Been busy trading .. this pullback is going to be huge ..and fun.

Hot Tip from Cashin: Ammo and Canned Goods

2009-04-06T15:18:00.000-07:00

Where Do I Sign Up?

2009-04-03T18:04:00.000-07:00

Gingrich Warns of Conservative 3rd Party in 2012

Friday, April 3, 2009 8:53 AM

Former House Speaker Newt Gingrich warns that conservatives could leave the GOP and form a third party in 2012 if Republicans don’t do more to rein in government spending.

“If the Republicans can’t break out of being the right wing party of big government, then I think you would see a third party movement in 2012, Gingrich said during an address to students at the College of the Ozarks in Missouri.

Gingrich attacked President Barack Obama’s “monstrosity of a budget,” but acknowledged that Republicans are also to blame for the huge increase in federal spending, CNN reported.

“Remember, everything Obama’s doing, Bush started last year,” he said.

“If you’re going to talk about big spending, the mistakes of the Bush administration last year are fully as bad as the mistakes of Obama’s first two, three months.”

Gingrich predicted that “fed up” Americans will instigate a “nationwide rebellion at the polls,” and said the increased government spending under Obama is “literally irrational.”

On Becoming a Trader

2009-03-29T16:34:00.000-07:00

This video from puretick.com is like the Magna Carta for daytraders.

Simpatico

2009-03-29T14:48:00.000-07:00

Visit msnbc.com for Breaking News, World News, and News about the Economy

Apparently Its a White Thing

2009-03-29T14:38:00.000-07:00

From the BBC

Brazil's President Luiz Inacio Lula da Silva has said the world's poor people should not be forced to pay for the global financial crisis. President Lula said white, blue-eyed people - not Indians, nor black, nor poor people - had created and spread the crisis throughout the world.

Wonder what he thought of Bush I's bailout of Brazil a few years back? Is he willing to give back the money?

Ratigan Out at Fast Money

2009-03-29T14:09:00.000-07:00

From the NY Slimes

Dylan Ratigan, the longtime host of the CNBC program “Fast Money,” abruptly left the cable channel and the show on Friday, after a discussion with the network’s president, Mark Hoffman.

The move came after contract negotiations between CNBC and Mr. Ratigan ended with just a week left until the end of his current deal.

Asked why he would walk away from a successful program where he had built a reputation for fast and funny delivery of the day’s financial news, Mr. Ratigan said, “I had the benefit of my contract coming to an end. This is an opportunity to take a pause and evaluate all my options.”

I have to admit that enjoyed my months of watching that show but I also have to admit that it had a severe negative effect on my trading. Since I love trading more than that show I quit watching.

Wonder who will replace him? How about Michelle Cabruso Cabrerra?

A Devalued PM of a Devalued Nation

2009-03-28T05:12:00.000-07:00

This is exactly analogous to the American situation. Unfortunately there are few conservatives in the USA able to put a sentence together to articulate this situation. Nobody here knows this talk. Spending according to our means is not in our bones. It was after September 11, 2001 that Bush urged Americans to go out and spend.

We created a housing boom to heal our wounded psyche, a binge spending trip, promulgated by the binge drinking President, that is all that Bush knew. Now, we have brought in a professional alcoholic (to further the drinking=spending analogy.) Bush set the U.S. up for Obama. One flows quite naturally from the other.

Beware Boy Geithner

2009-03-27T17:35:00.000-07:00

Congressman Moves to Block Collaboration with the Communists

Alarmed by talk of a global currency, Rep. Michele Bachmann, R-Minn., introduced Congressional legislation Thursday to prohibit the president of the United States from striking any deal to validate a non-U.S. currency.
The bill’s introduction follows mixed messages from Treasury Secretary Timothy Geithner on whether he would support a global currency to replace the dollar.
On Tuesday, Bachmann tells Newsmax, she asked Geithner at a hearing if he would renounce any effort to move toward a global currency.
“He answered unequivocally that he would,” Bachmann said. Geithner’s assurances echoed those of President Obama.
On Wednesday, however, while speaking before the Council on Foreign Relations in New York, Geithner remarked that he was “quite open” to a larger, global-finance role for a melded International Monetary Fund currency.
Here's a pic of the damage this stooge let loose within minutes. No doubt the Blackberry's were buzzing at the CFR ... hmmm sombody important was long the Dollar and they needed Boy Geithner to retract and quickly!

Sham Wow

2009-03-27T15:10:00.001-07:00

Punch Drunk

2009-03-22T17:02:00.000-07:00

Fresh off the airwaves:

President Barack Obama said he believes the global financial system remains at risk of implosion with the failure of Citigroup or AIG, touching off “an even more destructive recession and potentially depression.”
His remarks came in a “60 Minutes” interview in which he was pressed by an incredulous Steve Kroft for laughing and chuckling several times while discussing the perilous state of the world’s economy.
“You're sitting here. And you're— you are laughing. You are laughing about some of these problems. Are people going to look at this and say, "I mean, he's sitting there just making jokes about money—” How do you deal with— I mean: explain. . .” Kroft asks at one point.
“Are you punch drunk?” Kroft says.
“No, no. There's gotta be a little gallows humor to get you through the day,” Obama says, with a laugh.

An assessment from a freerepublic commenter:
Inappropriate affect is a schizoaffective behavioral symptom. And a form of schizoaffective dissociation. He appears to be under some form of mind control or dissociation. Not a good sign. It could be indicative of a sociopath or from pathological narcissism. Someone giggling at a funeral would be a similar type of behavior. It seems like Obama has sociopathic attitudes toward white Americans. He does not identify and distances himself emotionally.

Milton Friedman Explians Why Socialism is Always a Failure

2009-03-21T16:01:00.000-07:00

This is an interesting clip with Phil Donahue asking all the questions that the liberals are asking today. They are good questions and there are definite answers to them. This clip must from around 1980 or so and it makes me sad. In seeing Phil Donahue I see an intellectually inquisitive person, willing to sit, listen, think, question and thereby enlighten his audience. You won't see that today from today's low brow thugs like Chris Matthews or Keith Olbermann. All they know is the jackboot and that is all they deserve.

Not Taking a Thing Back

2009-03-20T14:58:00.001-07:00

When I saw the still of the video over at Breitbart I jumped to the conclusion that Erin Burnett, in a rare display of journalistic integrity, slammed Rep. Rangel for his crocodile tears of rage over the whole AIG thingy. Nope. It was Mark Haines, who jumped in, sensing perhaps, that Erin was just conducting another Democrat love fest.

I dare say that Rep. Charlie Rangel has violated the public trust. His failure to pay taxes is a matter of fact.

Not Shocked at the Shock to the Shock

2009-03-20T14:49:00.000-07:00

Political Art

2009-03-14T17:50:00.000-07:00

While scanning old photos of the Soviet Union I took on a trip there in 1987 I began to notice this eery similarity between the artwork flowing out of the Obama juggernaut and that old crap that was plastered all over Russia.

Apparently the stimulus plan now has official artwork associated with it.

A blogger offer still more ... the words are his.

Some people, reportedly including at least one state governor, aren't very excited about Obama's new 'Stimulus Logo'... ...Do you suppose that might be because 'creating new logos' isn't really the type of 'LEADERSHIP' most Americans are seeking right now...?

...and here, of course, is the obligatory, related, 'bumper -snicker'...

Slammed ?

2009-03-13T14:56:00.000-07:00

Purportedly John Stewart is "slamming" Jim Cramer but I see nothing of the sort here.

The Daily Show With Jon StewartM - Th 11p / 10c

Jim Cramer Unedited Interview Pt. 2

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

The points Stewart makes are valid and can be confirmed by other professionals in the industry and amateurs such as myself who study the market 3 hours a day, everyday, and make active investments.

Some of my instructors have advised me to not even watch CNBC at all. Indeed, I have stopped watching CNBC altogether and my trading has improved 100 fold.

Cramer is not even the worst of the bunch. There are shills out there like Maria Bartiromo is the most biased non-objective journalist I have ever seen. She is neither a technician of the market, nor a financial professional. She is a professional liar. Then you have complete Democrat Party suck-asses like Becky Quick, Erin Burnett and John Harwood.

The Fibonacci in Lateralus

2009-03-08T18:03:00.001-07:00

Technical Analysis now has a theme song of its own.

Cramer Fires Back

2009-03-07T04:13:00.000-08:00

Cramer: My Response to the White House

He picked right up on the character assassination by Gibbs (who now has picked a fight with the a radio host of some note.)

Eve of Destruction

2009-03-05T17:02:00.001-08:00

The Obama-Bot Responds

2009-03-03T18:50:00.000-08:00

The guy can't even respond .. just nervously laughs. The funny thing is that Cramer is a Democrat. Wall Street is America but not for the Grand Mufti Obama. How many Americans know that Obama's tax return revealed that he owns zero stocks, nothing, no mutual funds, nothing.

A poster at Media Bistro writes:

This explains why the Whitehouse is attacking its critics:

Saul Alinsky wrote the book, "Rules for Radicals," which has been used by hardcore left wing radicals for over 30 years. His Rule Number Twelve explains why they are under personal attack by the Left:

RULE 12: Pick the target, freeze it, personalize it, and polarize it." Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions.

Attack Santelli, Attack Cramer. Attack America.

Cramer Slams the Annointed One

2009-03-03T18:48:00.000-08:00

Visit msnbc.com for Breaking News, World News, and News about the Economy

This is getting sweet. Erin Burnett .. you dumb bitch.

How to Begin with Investing and Trading: A Traders History

2009-03-01T03:09:00.001-08:00

Really thorough video series about trading.

Rick Santelli/Kudlow Respond To Whitehouse Speaker Robert Gibbs Attack

2009-02-25T01:03:00.001-08:00

And that is the end of that. Gibbs, what a sarcastic asshole. These Stalinists have paper-thin egos, they're surrounded by a press corps of like minded fellow travelers or just plain cowards.

The day after this Obama came out and declared himself a hawk on deficits. Listening to this stuff from the White House is like listening to a cult program its members. Within 72 hours they do the exact opposite of what they preach, this is all a method to break down critical analysis.

The prospects for the mid term election look very good for conservative Democrats and Republicans and Independents.

Rick Santelli Claims White House Is Out To Get Him

2009-02-25T00:26:00.001-08:00

Santelli picked up on what I noticed and indicates that his family has been threatened.

This is the way these Stalinists roll.

Obama's Press Secretary Robert Gibbs Addresses Rick Santelli's Rant

2009-02-25T00:24:00.001-08:00

Notice how the White House dirt bag leads off with "I don't know where Mr. Santelli lives, where his house is." This is a veiled threat. The government thinks it owns everything and everybody.

Rick Santelli and the Shot Heard Round the World

2009-02-25T00:20:00.001-08:00

This is the first time the Annointed One has been questioned. Toupee' Kernan did not like it one bit.

Keyes: Obama Must Be Stopped

2009-02-21T19:21:00.000-08:00