I've had trouble all day trying to get into my own blog. I think that I had a Firefox upgrade. I finally had a "duh" moment, and rebooted.
A bit of a bounce today. What it leads to I do not know. But I cannot figure out teenagers, and we must always remember that the market is a teenager!
We had a lovely weekend here in VA. We are in desperate need of rain. I cannot imagine what I would do if my home were to burn down. We live among the oak trees--old oak trees 99+ years old. We had an old red oak taken down. I counted 155 rings, so 99+ is being conservative. Our well has held up. But as I see that San Diego is on fire, I'm reminded that carelessness or a lightening strike can reduce all that I have worked for to rubble. The true test of one's grit is to be like a Phoenix and rise out of the ashes. That spirit is truly within us--some of us have to dig deeper than others. Mine's not been tested, but I'm hoping that I don't have to send a plumb line too far down.
One of the things that I did over the weekend was go through my "notebook". Sadly, I have many, and as I tell you about them, you will laugh at me. But I'm all about sharing so that others do not have to toil as I do! Though I think that Stephen Covey is a control freak, I do have a Franklin Planner. Classic size. Because I have a leather (pen and paper) fetish, I will always have some sort of planner that can be encapsulated in luxurious leather. I would never buy a fur, but I have a leather fetish. You may freely call me a hypocrit. It fits. I'll not contest the label. When I trade during the day, I write down my trades. A chronicle of both my genius and stupidity.
As I sat on my deck, enveloped in the lovely Indian summer day, I went back through one of my notebooks. This little number is by Levenger. It is their Circa series and it is purple moc-croc leather. Of course I bought it at deep discount. It is also 8.5 x 5.5--I find that size easier on my eye and hand. When I listen or read stuff, I try to have this in hand, though I must confess that this discipline has escaped me a bit of late.
But I plowed through my notebook making "10.21.07 updates" beside key items such has gold and oil prices. I came across a note that said, "research Linda Bradford Raschke. " Her name came out of Fontenil's Stock Market Course Book that I was rereading. I looked her up, and for you "trader types", I think that you will enjoy reading her articles. Here's an article you can read without registering for anything.
You can find her website here. I read all of her articles, and I gleaned quite a bit. These are trader oriented. Despite the sniffing that our dear, friend Russell120 does at technical analysis traders (and they are the folks that ultimately set prices) use TA regularly. As I've said here before, I see both of them as important. You can have a terrific stock with solid fundamentals that has been bid up so much (easily seen by looking at fundamentals) that you are almost guaranteed to lose money if you by it at the current price. Buy and holds...you can still lose money if you are buying at the top of the cycle and at an extended price. And while our Allegorical Cat adores TA irrespective of fundamentals (some entrails thing that I averted my eyes from as it was dinner time and all that), TA will take you only so far and fundamentals HAVE to be the air beneath the wings, no? John Murphy states that TA is more expeditious than TA, and if one is to think of one's time vs. payoff, I'd have to agree.
And while our cat-of-many-faces asks insightful questions of this blogger ("Did you notice that XAU and HUI were basically FLAT since 11am on Friday even though the Dow was losing another 200pts? Hmmmmm....."), I must admit with great shame that I've NOT considered these aspects.
13 comments:
"John Murphy states that TA is more expeditious than TA, and if one is to think of one's time vs. payoff, I'd have to agree."
What's more expeditious than what??
Thank you.
This cat employs TA, fundamentals and psychology to arrive at my "biases". I do not worship at any particular altar.
I'd have to agree with Murphy that TA is "efficacious". To understand fundamentals is much harder.To glean psychology harder still.
Three-Legged Cat
Hey Leisa,
Are you still short BUCY?
I entered a short position yesterday and just wondering what your thoughts are on BUCY now.
JogyP
JogyP: I covered my short for a gain on the open yesterday. I reentered a small short position 3 pts higher. Still holding, but I'm in the red. I think that there is a bit of a short squeeze going in this stock.
Anon: 10:48: More expeditious than exhaustively studying fundamentals. The technicals will privilege one to information that is "in the stock price action" that is not in the fundamentals (which tends to be more historical".
EXTREMELY suspicious looking "follow through" day. Looks COMPLETELY manufactured to my eye.
It is what it is though.
Gotta love that 3:30pm Buy Team. They have some ammo.
Doubting Cat.
I had a very terrible day today. I'm underwater in my small BUCY short, though I'm even from yesterday's gain. Still....
I actually saw the RIMM go up--saw it right when it happened...and I failed to get on the wagon.
Fidelity was down for a couple of hours. A crappy day. A crappy day indeed.
Very narrow advance--very narrow indeed Doubting Cat.
We have a new kitten. A black cat. She ran off with one of my socks while I was doing the laundry. Now I have one clean sock and one dirty sock.
Since she ran from the upstairs to the downstairs with the sock (inverted sock pattern), TA says the market will be a bit weak tomorrow.
Inverted sock pattern by a cat of nine lives less than a year old conveys a market pattern of ambiguity that will somehow make one smart person look brilliant and yet another looking like a cat's behind.
The TA Kitty
http://tinyurl.com/yr6eu3
TA Kitty at alert
http://tinyurl.com/yqw56b
TA Kitty and the Inverted Sock Pattern
http://tinyurl.com/28xbtv
Russell, love that kitty!
TA Kitty found its way outside. As an odd turn of events (for our neck of the woods) it was raining heavily.
TA Kitty is found and brought inside. Market begins immediate recovery.
TA Kitty has the power!
As an aside: Leisa (or are you still calling yourself Fruitloop?) your just jealous that my TA Kitty has special powers, and all your dogs do is overturn your canoes.
Russell: Your TA Kitty looks like it has a bit of Siamese in it. Thanks for sharing these pictures. I'm not sure that the inverted sock pattern was conclusive!
Now, my dogs wield great power--Daisey of course stopped a Harley in its tracks! When I took Macy in, the vet said, Now if the motorcycle had hit her, the rider and bike would have had a different outcome. Macy has 30 lbs on Daisey-do.
But remember, I've got two cats too. Luckily Daisey has lost interest in Herm. My older cat (17) sits on my desk getting his pet dander everywhere. Oh...he gets a little barfy too. Now when he starts to heave, he has special powers over me....I move and fast!
She does look a bit Siamese, but the mother was some sort of calico. Some of the calicos seem to be a bit petite in a Siamese way as well. TA Kitty has two very dark gray siblings, and another black (but with a very small white patch) sibling.
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