Great post. I gave him props on his blog. Kass and Fleck are dumb asses. They get paid to bash the market. Do you really think they believe the market is going to zero? They know idiots will pay for their services to just agree with their predictions.
It must be real fun hanging out with permabears.
If you hate GWB, you think the market is going to crash and you subscribe to services that support that view...that is what these grade A assholes do.
Personally, Rev is imo the best to ever come out of the internet....However, the past year has left me confused as he has interjected his opinion into the market direction in a much more severe way than he ever has. Before when he did it he was more going with the trend. Now the guy fights it but still plays it.
He is the best online and that is why he can charge $500 a month for his full services.
For those of you who have not heard or read about him head to http://www.chartpattern.com - his investing and trading style is extremely similar to Maui's - the only difference is that Maui is still a young gun.
WOW...you have better odds of hitting the lottery and getting struck by lightening twice, during a blue moon.
Success is a State of Mind - - Tommy Bahama Profits always take care of themselves but losses never do. The speculator has to insure himself against considerable losses by taking their first small loss. - - Jesse Livermore The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, nor for the get-rich-quick adventurer. They will die poor. - - Jesse Livermore
You’ve done your homework. You have studied the price range, annual reports, past charts, and analyst forecasts, and you are confident that you know exactly where the price will go based on your analysis of all available information. You trade your plan. You buy 100 shares at $60, and plan to sell when it hits $65 in two weeks. But two weeks go by and the stock trades between $58 and $60. You think, “What’s going on? Why isn’t it moving up as high as I had expected? Don’t other investors see what I see?” Unfortunately, as much as other market participants should be acting in the way you anticipate, they don’t. And when the price of a stock doesn’t meet your expectations, it’s easy to feel frustrated. But what do you want to do? Feel stuck and frustrated, mulling over what should have been? It is more useful to take it in stride, and move on to the next opportunity.
There’s nothing more frustrating than seeing a trading plan fail, especially when you put in a great deal of hard work to outline the specifics in exacting detail. But when trading the markets, setbacks are commonplace. It is easy to feel frustrated. You want your hard work to pay off, and when it doesn’t, it is natural to feel upset. There are a variety of emotions you may experience. You may feel angry that other market participants didn’t behave as you had expected. You may feel foolish for making naïve assumptions about how the market behaves, or you may feel guilty for making the mistake of trusting your intuition. As natural as it is to feel these emotions, they are often unproductive, distracting, and energy draining.
How can you control unpleasant emotions that interfere with trading at your peak? It’s useful to examine your stream of consciousness. What you say to yourself often dictates how you feel. For example, if you think, “When I am wrong, it reflects my incompetence,” you will feel overly disappointed. If you think, “I must always be right,” you will feel frustrated when you are wrong. On the other hand, if you think, “I just have to accept whatever happens,” then you will be less upset. And if you think, “I can let this setback go and search for a new, profitable trade,” you will feel energized and ready to search for the next trading opportunity.”
The key to success is to think flexibly. Don’t rigidly think that you must be right, or that you must always win. Don’t think you must trade to perfection. Use a baseball analogy. You don’t have to hit homeruns very often to be at the top of the game, and similarly, winning traders don’t have to be right 100% of the time to profit. Be ready to accept a setback. When you are emotionally prepared for any setback, you can more easily accept the setback and move on to the next challenge.
interesting article : (especially interesting is the statistic about historical underperformance of int'l mkts vs. US mkt prior to 2003........since every advisor nowadays is saying how you must have larger int'l exposure ......but this article shows that isnt the best decision long term)
Article Title: "Good Will To All " Author: Section: Issues & Insights Date: 12/15/2006 Religion And Culture: Anyone who feels "left out" by the sight of a Christmas tree is misreading the message. In fact, we can't imagine a more inclusive symbol for the holiday season.
It's the sort of story that seems sadly inevitable this time of year. Someone takes offense at a sign of Christian faith or custom on public property. Lawsuits are threatened. Tempers flare on all sides. The spirit of the season suffers another setback.
The latest such Christmas clash played out this week at Seattle-Tacoma Airport, where a rabbi, Elazar Bogomilsky, wanted a menorah put on display along with the airport's 14 plastic Christmas trees.
The airport, figuring it would have to make room for Muslims, Wiccans and every other competing religious or cultural group in the region, decided it would be less trouble simply to take the trees down. This it did, thereby provoking the ire of Christians (who probably would have had no problem with the rabbi's menorah).
Sea-Tac managers then had the belated good sense to put the trees back up after Bogomilsky assured them he never wanted them removed. So the story ends there - except that it got us thinking about Christmas trees and what they stand for.
First, it struck us that Bogomilsky mistakenly assumed that the tree has the same religious significance to Christians that the ancient symbol of the menorah has to Jews.
The Christmas tree is not like a cross or a creche. It's much more a product of Christian culture than an expression of Christian faith.
It's a late-blooming product at that. The association of trees and winter holidays goes back at least as far as the ancient Romans.
But the idea of cutting, mounting and decorating a tree at Christmastime developed among German Protestants and didn't catch on in America until well into the 19th century.
On the other hand, as the folks at Sea-Tac noticed, Christians in America love the tree enough to defend it vigorously when someone wants to ban it from the public square. They'll fight for it even if its religious content is limited to an angel or two in the crowd of ornaments.
Maybe they fight because they have lost so many other battles to display other Christmas symbols, and they don't want to lose another. The Christmas tree may indeed be the last permissible public acknowledgment of America's roots (not to mention its continued demographic reality) as a Christian nation.
But if the tree represents a nation of Christians, it also speaks of diversity and tolerance. You don't need to be a Christian to savor its beauty. You can appreciate it whatever your belief or unbelief. And you can make it represent just about anything you want.
When it comes to ornaments, your choices are limited only by size, weight and perhaps good taste. If this isn't inclusive, we don't know what is.
Anyone who can't tolerate a Christmas tree truly needs to lighten up.
very appropriat article with market at highs, everyone trying to guess the top and prematurely selling winners jsut becasue they are up even if charts have NOT indicated sells...also keeping position sizing controlllable.....we've all been there, at least i have where i didnt have any emotions on smaller positions(so less emotions) and watched them go up huge without me adding to it -
Impulsive Trading
Jack has a common ailment experienced by many traders: He is impulsive. Last month, he decided to trade retail stocks. After a careful analysis of all available information, he had a hunch that retail sales in November were going to be better than expected, so he bought stock in a few major retailers. He was right. All he had to do was sell at the right time. On Wednesday, he watched an early rally resulting from positive reaction to stronger-than-expected retail sales in November. Unfortunately, it didn't last long. Sentiment changed when weekly crude and gasoline inventories data showed a decline. Although this is nothing unusual, Jack reacted impulsively. Right or wrong, his long term plan was to wait patiently for his portfolio of retail stocks to go up, which he expected to occur by the end of the year, but when he saw the early rally fizzle, he panicked. Without thinking he decided to abandon his plan and sell off his positions. Over the weekend, though, he thought things over and now regrets his decision. He laments, "Why was I so impulsive? I should have calmed down, rationally examined my plan, and traded decisively."
Jack isn't alone. Every day, traders close out positions prematurely out of panic. Sometimes the consequences are minimal, but other times, a wrong move at the wrong time can deplete precious capital. What can you do to control impulsive actions and maintain discipline?
First, assess the situation realistically. When your money is on the line, it is difficult to stay calm. Even the most seasoned traders are a little on edge when their money is on the line. How much are you risking? If it is more than you can afford, it is unrealistic to think that you can remain completely calm. You may want to consider reducing your risk, or if that is not feasible for the setup you are considering, you may want to forget the trade altogether. On the other hand, if you are risking relatively little capital and can easily survive the worst-case scenario should you lose, then it may be helpful to continually remind yourself that not much harm can come to you, and that you might as well keep your cool.
Second, don't underestimate the difficulty of controlling your impulses. Controlling your impulses takes psychological energy. When you are tired, hungry, or stressed out, you will have difficulty controlling your impulses. It is essential to take precautions. Make sure you get plenty of rest. Make sure you are properly nourished, and do everything possible to relieve stress. Exercise, avoid personal conflict, and make sure background hassles are minimized. The more energy you have to concentrate on your trading, the easier it will be to maintain discipline. It is difficult to maintain discipline, but not impossible. If you take precautions, you can stay calm, disciplined, and able to trade in a winning, peak performance mindset.
Success is a State of Mind - - Tommy Bahama Profits always take care of themselves but losses never do. The speculator has to insure himself against considerable losses by taking their first small loss. - - Jesse Livermore The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, nor for the get-rich-quick adventurer. They will die poor. - - Jesse Livermore
What a great article...they do a great job though of still doing the usual...but the...and if....or if this throughout the article. But facts are facts 17% GDP growth and 13% GDP growth are amazing.
Success is a State of Mind - - Tommy Bahama Profits always take care of themselves but losses never do. The speculator has to insure himself against considerable losses by taking their first small loss. - - Jesse Livermore The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, nor for the get-rich-quick adventurer. They will die poor. - - Jesse Livermore
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