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Tuesday, December 2
See, I would have lost twice as much money if I hadn't kicked that stop up the way my elders have been instructing me. That was a good trade, nicely managed. There will be a full Dummies lesson on it tomorrow (only ten lessons to go before I quit writing them).
Posted at 9:06 PM, GMT
Stopped out on that 3:30 bar... ugga. Be a good Dummies lesson on the value of tightening the stop, so all is not lost. On a more pleasant note I just finished watching Shaft (with Samuel L. Jackson, I've never seen the original), and picked up a new line which I will try on LLP later: "It's my duty to please that booty." She probably won't be amused, lol. (There are many shots of the Twin Towers in Shaft.) Posted at 8:38 PM, GMT
In the old days I would have stayed down at 2.39 into the close but I'm trying to be better about tightening the stop before I walk away from the screen. I'll be back at the close, have a good afternoon. Posted at 4:51 PM, GMT
Tightening p-stop 2.47 since my initial risk has been covered... this is disciplined trade management... potential loss reduced to less than $250 excluding commissions. Posted at 4:46 PM, GMT
You can see how nicely ALTI set up on the 15-minute chart....
Posted at 4:40 PM, GMT
ALTI is a player, 2.55 entry (2.39 p-stop)... fairly wide stop so the size is small. I forgot to mention yesterday on the Kissing Jessica Stein DVD commentary that they mentioned they cut nine or ten shots of the World Trade Center out of it (the film debuted in Toronto on September 10, 2001). I noticed the Towers were absent but think it was right to delete those scenes... I still get startled - or a little distracted - during a movie when the Towers appear, as they did most recently for me while watching The Family Man and K-PAX. Posted at 4:24 PM, GMT
Watching PCYC and ALTI among others... Posted at 3:19 PM, GMT
The Chairman talks about the perils of posting things to the website while trying to trade in today's Trading for Dummies lesson. Posted at 8:27 AM, GMT
Austan Goolsbee writes about invisible unemployment.
"... the unemployment rate has been low only because government programs, especially Social Security disability, have effectively
been buying people off the unemployment rolls and reclassifying them as 'not in the labor force' ... once Congress began loosening
the standards to qualify for disability payments in the late 1980's and early 1990's, people who would normally be counted as
unemployed started moving in record numbers into the disability system...."
Posted at 8:24 AM, GMT
You can read the annual (and quarterly) reports for The Sequoia Fund online. From the lastest quarterly report:
"... we believe that the investment climate is such that it is important to maintain a reserve for future purchasing power in
the safest of securities, i.e., short-term U.S. Treasuries, even though they currently yield barely 1%. We think there is a high
probability that this will be a prudent policy through the unpredictable markets of the next five years."
Posted at 8:14 AM, GMT
Jim Griffin remains upbeat.
"The abstraction that most influences the way I think about the outlooks for the economy and the markets is globalization,
or global integration. This is a country of European and Asian and African and inter-American immigration. Lump us all together
and you get the mightiest nation and the most productive economy ever created."
Posted at 8:06 AM, GMT
Previous Entry >>> Random Thoughts -- December 1 |
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