After watching not to many swing plays hitting on today’s action I thought I would show a chart of the S&P 500 on a weekly basis. You can see that this has been one hell of a run. My thoughts of a correction at some point got hit a little today when all of my breath indicators gave buy signals. The only problem with this is how they set up to hit a 30 day low – small moves and grinded. Makes me think we might get set up for one last up move before she’s over. Have stops so that when the correction comes it might be hard and fast based on the slope of this last climb up.
Here is my first run:
X
AVCT
CVC
ATI
CMC
CTXS
AMD
SNDK
MTG – Short
NEW
Here is a great write regarding some trading rules from Tale of the Tape.
Brett Steenbarger writes a great article about What Traders Most Need.
This article makes you take a different view of what it takes to “make it” in this job. After reading this I could not help but to reinforce my thinking that people need to take around who they are as a person. There’s no book or seminar out there to help you with this, it only comes from experience. The beauty of trading is it gives you all the experience you want, just make sure to understand risk control so you have the time needed to get your experience.
Here’s a great article on things to think about retirement – that’s why we all do this anyway.
