Guest Posted January 27, 2003 Report Share Posted January 27, 2003 what BB means is be on guard and ready to pounce and act accordingly to whatever happens on those dates. Stuff in between those dates is noise and not critical. Only act when it is critical to do so. Manage by exception instead of managing every day as a critical day. SG says the same thing by not gaming the tape daily. You'll burn yourselves out and not act when you should. Good morning, everyone! This place ain't called Stool U. for no reason. All of you out there who feel run ragged and depleted on a daily basis by the u-no-what please read again what PileDriver wrote on Friday. And reread it again and again and again and again until it becomes internalized. And you'll definitely know when it becomes internalized when you no longer feel run ragged and depleted on a daily basis. And you'll know experientially why less is indeed more and that what PileDriver wrote is one of the most important things you'll ever read here or anywhere else about The Inner Game of Trading. For what good be it even if you make a net profit trading all the intraday and short term twists and turns - and burn yourself out in the process? That to me adds up to a very serious capital loss, as in loss of Chi, or life energy, and leaves you dangerously vulnerable to being seduced by the Dark Side of The Force (as in compulsive gambling). Why fight in enemy (market makers, program traders, etc.) territory where you are very heavily outclassed and outgunned? Why give them this advantage? Isn't it challenging enough to fight on your own turf? Listen to and learn from people like Doc and PileDriver and Simple Guy and Vesselin and Mark and Blackbelt and mob and all of the others in our community who have been around the block a few hundred times or so and developed the necessary survival skills in the process to be able to cope with what's going on and are willing to share their knowledge, experience and wisdom. Listen to them especially when they talk about the Inner Game. I've been trading the market for decades and I'm still learning. And Happy Birthday to Squirt who celebrated yesterday and who joined our community on December 1. Speech! Speech! Let's hear from you, Squirt! And Happy Birthday to riff who celebrates today and shares the day with Thomas Crapper. Who did a LOB post last Friday that began with, My spouse keeps telling me that I am getting too preocuppied with all this doom and gloom stuff. Which is interesting 'cause Nancy keeps telling me the same thing. Now fancy that! :grin: And Happy Anniversary to turtle, who joined our community one year ago today. Link to comment Share on other sites More sharing options...
DrStool Posted January 27, 2003 Report Share Posted January 27, 2003 Good Morning All- Doc's Dad feeling much better, thanks, I'm sure, in no small part to all the prayers and healing energy sent by stoolies, as well as to his own indomitable spirit! Let's not forget to keep Rog in our prayers as well. Updated Stoolwethers are posted. Should have Suctors up by 8:00AM ET. Hope you all enjoyed the Stool Story of Genesis. Link to comment Share on other sites More sharing options...
MrHanky Posted January 27, 2003 Report Share Posted January 27, 2003 S&P is 13 points below fair value,dow futures down 100! every channel blaming it on iraq. Link to comment Share on other sites More sharing options...
Guest Posted January 27, 2003 Report Share Posted January 27, 2003 Nice news, Doc. Great way to start the day!!! Link to comment Share on other sites More sharing options...
ChainGangOf22 Posted January 27, 2003 Report Share Posted January 27, 2003 Good morning all! Doc, I'm so glad to hear that your dad is doing better. Let's hope Rog is doing well too! Glad, thanks for your inspirational messages that kick off these threads. Your advice, and the advice of many others here is invaluable in my on-going development as a trader and as a better person. Only having a little experience myself as a trader, I know I will make mistakes but stool wisdom is helping me avoid some of the worst. Thanks all! :grin: Link to comment Share on other sites More sharing options...
simple guy Posted January 27, 2003 Report Share Posted January 27, 2003 SG dings in I had a few interesting threads over the weekend on LOB. You may want to peek at them because SG for the first time put up a bunch of MY OWN annotated, yes... annotated charts. Including the Rydex Venture Fund, the QQQ index, the NAS, and even the Prudent Bear fund... That said... SG says the Dec lows to be tested this morning, perhaps 24.39 even... and then a move to near 25.... followed by sub 24 and on to my 23.31 cited area (possibly lower) thereafter. Dover sole? No such thing in a 3rd wave, only mild short term bounces to be shorted... if you are not short yet, may I suggest you get short on any bounce and stay short for a few weeks... I could be wrong... God Bless us all... we live in interesting times my friends... sometimes scary times... Link to comment Share on other sites More sharing options...
The End Posted January 27, 2003 Report Share Posted January 27, 2003 Unless we are falling apart right now, 836 should hold, for a short term bounce. The break of 869 Friday points to 784. (869=neckline). Link to comment Share on other sites More sharing options...
Guest Posted January 27, 2003 Report Share Posted January 27, 2003 Hi, ChainGang. Realizing that one is making a difference is always nice to know. Thank you. Link to comment Share on other sites More sharing options...
GregFokker Posted January 27, 2003 Report Share Posted January 27, 2003 Good news and big laugh Doc. Somebody'd better get to Wilson and tell him to SELL! The US Dollar Credit: http://quotes.ino.com Gold Credit: http://cdchart.innovative-software.com NDX futures (delayed) Credit: http://www.livecharts.com SPX futures (delayed) Credit: http://www.livecharts.com Link to comment Share on other sites More sharing options...
blackbelt Posted January 27, 2003 Report Share Posted January 27, 2003 849-850 on the SPX for a low today on the first hour of trading (preferably by 10:00 am). As long as this level holds the expectation is a gradual move up towards Friday 1/31 or Tuesday 2/04. How high? Up to 902 with higher potential at 877 (these levels with a +/- 3 points variance) If the SPX trades below 846....the drop will continue till Friday with a big down day on Thursday. If nothing on the above happens.....oh well....that's life... Have a good week and see you on Friday Link to comment Share on other sites More sharing options...
brian4 Posted January 27, 2003 Report Share Posted January 27, 2003 If we break 836-the collar triggers will probably kick in-if you can't remember what they are go to programtrading.com and hit curbs. Elvis is leaving the building! Trade safe! Link to comment Share on other sites More sharing options...
simple guy Posted January 27, 2003 Report Share Posted January 27, 2003 SG dings The sheeple are going to start selling very soon, especially if its ugly this morning or for today's close. NDX looks like an obvious 977 re-test of Dec wave 1 ending lows.... followed by the required bounce. Stoolies with balls could reverse and go dong this morning sometime should you see this number tested.... SG likes to take profits and follow my own advice... but SG also feels the weight remains downward for the foreseeable several weeks into late February... and playing bounces is like catching knives.... Link to comment Share on other sites More sharing options...
GregFokker Posted January 27, 2003 Report Share Posted January 27, 2003 QQQ is approaching its neckline. I'm thinking of covering some here in the event of a bounce. No reason other than technical. Link to comment Share on other sites More sharing options...
GregFokker Posted January 27, 2003 Report Share Posted January 27, 2003 Yields barely down- t-bills not confirming the move in futures this AM. Link to comment Share on other sites More sharing options...
sweefraapp Posted January 27, 2003 Report Share Posted January 27, 2003 On this day in ? * 1880, Thomas Edison received a patent for his electric incandescent lamp * 1943, some 50 bombers struck Wilhelmshaven in the first all-American air raid against Germany during World War II. * 1945, Soviet troops liberated the Nazi concentration camps Auschwitz and Birkenau in Poland. * 1951, an era of atomic testing in the Nevada desert began as an Air Force plane dropped a one-kiloton bomb on Frenchman Flats. * 1967, more than 60 nations signed a treaty banning the orbiting of nuclear weapons. * 1973, the Vietnam peace accords were signed in Paris Link to comment Share on other sites More sharing options...
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