Saturday, May 2, 2009


This market is destined to go higher, unless we get some bad news. If you look at the numbers, there seems to be no doubt that we are going to test 900 on the S&P. The news is all over the swine flu. People are being encouraged to stay at home by government and that will hurt the economy if it lasts long.

Why do I think the markets will rise? The market overcame worse that expected news this week and how many times have you heard me say that you can't fight the tape. This market has factored in a lot of bad news and is showing you that it intends to move higher. Now that does not mean that we are not going to retest the lows at some point---but right now the trend(and a rather strong one) shows you that it goes up.

Send us an email and give us suggestions as to who you would like to see on our show. We want to deliver the guests that you want to hear. We have some new guests scheduled very soon and are looking to book more shows a week in the late summer when the traders get done "vacationing".

My FCX had a great day yesterday and I am learning that it is better to trade less and make more quality trades. Overtrading only benefits your brokerage firm and can frustrate you faster than most anything. In the end, this game is won or lost on discipline---self discipline. If you are looking to blame your computer, your stockpicking service, or anything other than the person in the mirror---then you will ultimately fail in this business. If you are willing to accept responsibility and try to learn from the experience then you are definitely on the right track.

We are going to have a series on psychology in this business coming very soon. Stock Shotz is expanding and we are going to have more updates than ever before---I know it has looked just the opposite lately as we have been busy traveling and working on our new website---but we are expanding and you will like what we have in store for you. Thanks for your participation.
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