A good day in the market.
Notes the last 1/2 hour of his show gets pre-empted during baseball games beginning next week.
Don't treat the market as being monolithic.
I'm not bearish anymore.
No longer 100% in cash. I'm buying some things.
Trust factor is 5 out of 10--might as well be 0.
I'm taking it day by day.
We're on a follow through day.
Some leadership today.
No new leadership. Old names showed up.
Take your time.
I don't want you short the market; but I don't want you to think that the we're in a gigantic bull market.
I think that there will be more news-driven financial information.
He's still suspect and dubious of the action. Take your time.
Does not trust financials.
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Dell computer: insiders selling at the lows.
Gold and silver up then reverse. Bearish on g/s. Stay away. (L-t bullish; s-t bearish. Not saying sell).
Dollar strong; yen trashed; bonds trashed.
Still bearish on insurance and financials; semiconductors; oil fertilizers; ag. It's not throw the dart time.
If this is to be something that lasts, it will be something that takes time.
This market has no willingness to make anyone happy.
Tuesday, March 25, 2008
GaryK's 03.24.08 comments (Day late, dollar short!)
Gary K comments, quotes/paraprhases
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4 comments:
Leisa
Following up from today’s earlier discussion.
If I may… trading is about a state of mind.. . less so analysis and squiggly lines on charts.
I would like to go into detail on this some more… before going into an example.
I believe a ”trading mindset” to be the starting point – all other tools are incidental.
It’s not as obtuse as it seems, so let’s not get wrapped up in the words – but be open to the truth that the words lead us to –-> direct perception.
I will follow up tomorrow with some discussions of short term trading done in this state of mind – including a ‘concrete example’ and maybe a squiggly line or two.
----
1st off, this understanding of duality is important – very important.
Philosophers, psychologists and linguists approach the world through this concept.
But that is just it – it is only a concept – only a thought.
It has no basis in reality.
A Chair exists. It has No Opposite. Understand this – and bias is removed.
There is no correct way to ‘see a’ Chair. It is only ‘chair’.
Thought (as we have organized it) seems to think otherwise.
At some level – all humans can see a chair “as a chair” -- this is -- > direct perception.
But we don’t seem interested in direct perception - we spend most of our time
seeing ‘chair’ internally” - as an idea, or as a concept, or as a feeling, or ‘as an Experience’.
It seems that as humans we spend most of our time -- reliving our past experiences.
In this state – how can we perceive anything?
How can we really ‘see’ anything then – if we are busy “reexperiencing” what has already happened.
And why would anyone want to trade in this kind of mindset.
In this foggy mindset , rather than T R A D I N G – we tend to react to what was already traded or react to the result of what was already traded.
Simply knowing that: ‘Experience’ IS bias - begins an awakening.
In this non-dualistic, direct perception mindset – all that exists is the “Trader” – there is No Opposite to it.. Get it?
If I am a poor trader today – I cannot work to become a better trader tomorrow. There are no distinctions – no dualities.
There is just trading – nothing more. Just trading. Just trading… Just trading… Just trading.
And there are no good or bad traders.
And there are no good or bad trades.
Just trading, just trading… just trading…. just trading – Nothing more.
I know this concept is difficult to grasp.
And it is far deeper than resorting to the cliché and say something like: ‘Be One with Trading’ - but if that helps another trader in the right direction – so be it.
Also, not to say that one ignores technicals, sound money management fundamentals etc…
But these other aspects of trading, the TA and what not- are mere tools - the shovels, picks and axes of “the trade” so to speak.
The emphasis should be on being in the “state” of mind described above – non dualistic, non ego based, seeing a ‘fact as a fact’ – and taking action – nothing more.
I have found taking this approach – helps to reduce all the emotion, thinking, the worrying, planning, reacting, self doubting and rationalizing that traders go through.
This is my path anyways – and it is only just beginning…
---
have a good evening...
‘nice
NG: I've never been in conversation with one who said this: "I know this concept is difficult to grasp."
Let me attest to the power of this statement to stop a conversation right in its tracks. Get it?
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