This entry was posted on Friday, September 14th, 2007 at 11:11 pm and is filed under Education, chart patterns, market commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
On Monday morning I posted a headline that caught my eye. Remember last weekend? What were we worried about? Growth Fears. Thats right. Time to go short right?
Here we are on Friday. Dow had the best week since April I believe. BEST.
What can we learn from this? A week where people flail their ams shouting how horrible forward performance will be, yet it ends up being the best week in 5 months. Stick to YOUR plan. And don’t be diverted by the headlines.
This is by no means a bullish rant. The chart is clearly at a crossroads but I implore you to always be extremely wary of the “obvious” trade. It is never ever that easy.
People in the blogospere who understand this “it is what it is” concept are few and far between..
The best blogs out there in my opinion are:
Stephen Vita - original and daring but willing to ride a trend
Bob’s advice for stocks- Bob is not only a gentleman but a market maven when researching IBD type growth stocks
Dr. Brett’s site - as a trader if you have not been here you haven’t been anywhere - best of breed
Technically Speaking with Ron Sen- a must read who makes being a contrarian almost anti-contrarian. A trader with an eye most closely aligned with my own.
HeadlineCharts - a new one for me but one I enjoy reading and find to be unemotional and extremely helpful inside the big picture
In my blogroll you will find others I find either enjoyable to read or helpful in trading. All come highly recommended in my opinion.
One thing these guys all have in common is that they post regularly. John and I tend to post rather infrequently and a bit irregularly. My only excuse is that I try to avoid the mundane and hop on the most salient points I see developing in the markets. Obviously these tend to trigger at extremes. My hat is doubly off to those that I have highlighted above, who gracefully weave frequent quality commentary with highly enjoyable reading. Hats off Gents.
Have a Great Weekend!
Dave Johnson
September 14th, 2007 at 11:26 pm
Dave,
Thank you again for your kind words of support and for linking to my blog. I work hard to make heads or tails out of the chaos that is the stock market. If I have helped contribute a little bit to the fund of information out there, I am satisfied. Keep up the great work here!
Bob
September 15th, 2007 at 6:00 am
Bob your site is extremely helpful to beginners to advanced market researchers. That’s not an easy task. Keep up the stellar work.
September 16th, 2007 at 8:37 am
I’d feel a lot better about getting LONG if everyone else already hadn’t…
as Buffett would say, “may you live until Berkshire splits”
Ron
September 16th, 2007 at 12:05 pm
I agree Ron. Big up week leads to……………
Well you know the probabilities.
September 17th, 2007 at 12:44 pm
Thanks for bringing up Ron Sen’s blog, I like it (my single most efusive praise of anyone yet, hahaha).