When She Turns On You…

Ah, a trend. Each day the market moves in your favor. The retracements are shallow and non-threatening. Time passes quickly, in a low-stress fashion. The money piles up. Life is good. And then … the trend changes. Abruptly. How to deal with it? The perfect answer is an announcement, preferably over a loudspeaker, that tells … Read more

What To Do When It All Goes Wrong

I walked in this morning to an indices market which was slightly lower. The bond market was slightly higher but trading over a full point off their overnight highs. What the hell was that all about? Nothing was making a bit of sense. The yen and gold were higher. Again…why were the bonds trading lower? … Read more

High Probability Moments In Time

Trading is not about being on the right side of the market each day. That’s impossible, especially when it is Wall Street’s job to lure people in like a newborn baby to the tit. Feeling comfortable and bullish at the end of the year? So was everyone else. Snuggle up and start drinking. By February … Read more

And The Other Thing About Symmetry….

Symmetry is such a simple concept, yet it is a very powerful analysis tool.  Take a look at this chart in S&P futures.  Symmetry is similarity or equality when comparing swings in the same direction.  Note how similar the swings on this 120 minute chart are.  Obviously these levels don’t always hold, but they are … Read more

The Peril Of Celebrating Wins

One of the most memorable characters from my business school days was an organizational behavior professor who loved to call BS on common business platitudes. Anyone who suggested that the solution to any tough problem was to first get “buy in” would immediately hear, “buy in? BUY IN!?!? You want to furlough half the department … Read more