Archive for September, 2010

17
Sep
10

Most people disappoint

In my time on the internet I’ve met a few unsavory characters along the way. The internet is an abstracting medium, most who try to shock, embarrass, or just plain be rude do so with the knowledge that they will never face up to their targets. The cruelty of children may know no bounds, but neither does that of the internet troll.

I take things in stride, mostly, but there are times where I dig in my heels and say “enough, dammit”. I am usually disappointed in the results. I should know better, the same abstraction and fog of anonymity provides a perch for anyone dedicated to their purpose, that is – getting a rise out of someone else. And as much as I would not like to fuel such interactions and escalate, I can’t help but try to smack some reality into a troll or two.

I’m sure there exists in the trading world the same desire to dominate, as you can see when people who are wedded to their positions defend them vigorously against any possible view against it. Braggarts and scam artists infest every virtual nook and cranny, from the penny-stock pump-and-dumpers, to the prop-trading scammers trying to pull in some extra capital to abscond with.

As for the market, it doesn’t care how “shocking” your sense of humor is – you just have to do one thing, and that is to be right. I’ll take that over most people, any day.

Stay tuned for this coming week, should be plenty of fireworks. 🙂

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03
Sep
10

Late Night Tradewinds

Like most who trade, I keep a different schedule than the usual 9-to-5’ers I see riding the subway or bus glumly at the end of the working day. I stay up and check my charts, run some more studies and see how the Nikkei is ticking along. Europe opens and I get a feel for the wave of buying or selling that will soon be crashing upon my native shores.

It is contemplative work. The charts may automatically draw themselves with a bit of help from diligent data entry, but in the end you are staring out into the trading abyss every day – peering out into the probabilistic chaos known as the ‘future’.

The future I see for the indexes isn’t good.

The final cracks in the market action are there, with those that have the proper instruments to see and record them. And all the while I bide my time until it is the right moment – flash in the order and let it all go. The currents will take hold and I’ll witness the waterfall as equities roar lower with thunderous rage.

We’re close – make no mistake. I fully expect some green before the tide turns. It will look good, and you’ll be tempted to setup a nice shack on the newly formed sandy beach of the bull move, maybe noodle around and get some fishing done. Don’t get too comfortable, your vacation spot is next to the falls – and I think I hear the creaking of barely secured pylons giving way under your holiday hut.

Reversal of fortune can indeed become the best of opportunities.

Good trading!

Trader Tim