Book review

I ran into the video I will try and attach on a site called misstrade. They have some interesting interviews, not always with traders. I read this guys book Confessions of an Economic Hitman after picking it up for a few bucks. It was an interesting read though I am not sure how well his idea that a few powerful families control everything will stand the test of time.

John Perkins, Confessions of an Economic Hitman and out soon Hoodwinked (11-10-09) and MissTrade, Matt Davio talk Hitmen from miss trade on Vimeo.

Thoughts

I added to INP, sold IYR EWT and XSD as under performers. EWT looks stronger now. I likely would not have bought THD if I looked closer at it then as it is low volume. I am amazed at intraday ETF price movement.

My two hands are still bullishly in the air, gotta wonder if those IBDers at the meetup are still short? This thought comes from a desire to be right, rich, and others wrong. Bad...

I got my second ever comments on the blog. Once again it has nothing to do with my blog, my thoughts, my great trading or wisdom. Instead it seems to be someone that wants to spread some dirt. I do not care to learn the dirt on anyone, it will not help me. I view myself as an ever increasing knowledgeable trader with incredible room to grow. I am capable of the best and worst in the market and have done both. I have listened to others, paid others. But the key is that I am responsible for my money, my trades, my decisions. As far as the past, other than it being instructrive to reflect and change, I prefer to focus on what I can do for me, not what I can do to hurt another.

"The Art of Making Money": A great easy read, not about the market. I read this one on the beach while watching all kinds of fisherman. These guys really reminded me of a bunch of traders in so many ways. Big and little poles, over anxious for small nibbles or normal gyrations, perhaps they missed the real catches due to too much activity.

Book Review

First off, I do not regret selling out of all stocks this week even though one is quite a bit higher now. They still need five and six million dollar volume up days to impress me as that is what they did on recent distribution days.

I've just finished Tom Lydon's "The ETF Trend Following Playbook". Save the money if you understand moving averages to guide trading and can find a full list of ETFs that are tradeable. Read the book if you want to learn more about ETFs and what is available. It is a playbook in that it teaches what can be traded, general long term guidelines to follow to do so well. It lacks a coach in that it does not offer specific how to guide. I might be biased by experience in that much if not all that was written was familiar to me. My vote: save the money, wait for library. I have not looked at his website to comment on that, more of value might be there.

Book Review

I've just finished reading Greg Morris' Complete Guide to Market Breadth Indicators. A great read, I plan on adding some of this to my daily routine. Some of the stuff is easier to see relationships with than others, my guess is I'll skip the one in a blue moon indicators and stick with broad trend stuff that does not swing around much. Assessment of market breadth notably important.

The McClellan family of indicators gets a lot of mention there and I have seen them elsewhere. I've not seen all of these as an option on sites I've used before so I went to their site: http://www.mcoscillator.com/
It looks like too much information to me. In particular I note them calling for bullish moves in June 08 and Oct 08 that clearly did not materialize.

I wise man once wrote to me that "Only price pays".