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1) When you don’t need to rely on anyone else’s opinion and you stop asking others: “What do you think of the market?” Have conviction in your ideas and don’t be easily influenced by others. You shouldn’t have to rely on other opinions because YOU should know yourself. 2) When you stop feeling the need to pound your chest every time you make 30 cents on a stock. “Act like you’ve been there before!” Don’t act like you’ve never had success trading before.
5 Signs You’ve Matured as a Trader | Joe Fahmy The Next Big Move
Although things are nicely set up for a bigger correction, the market is not breaking down yet . There were some attempts since end-March but they all failed by the time the market closed. Yesterday was no different. This indicator has been weak for some time but it does not yet show a bigger spike towards oversold that would lock in the divergence and mark the beginning of the correction.
Trading the S&P500
Seasonally adjusted jobless claims (357K) fell this week to their lowest level since April 2008. Even more impressive, however, was the fact that for the current week, non-seasonally adjusted (NSA) claims (319K) fell to their lowest levels since 2007. As shown below, the last time NSA claims were lower than 319K in the first week of April was back in 2007. Going back to 2000, the average NSA initial claims level for the current week is 362K, which is well above the current level of 319K. Not to beat a dead horse, but back in December and January when NSA claims were much higher than the seasonally adjusted numbers, there were a lot of bears claiming that the divergence between the two was a 'troubling' sign. We pointed out at the time, however, that NSA claims were always much higher than seasonally adjusted claims at that time of year.
Bespoke Investment Group - Think BIG
Carl Futia
June S&P E-mini Futures: Today's day session range estimate is 1389-1402. I think the drop from 1419 is nearly over and that the next development will be a rally to the May 2008 top at 1442. QQQ: Next upside target is 69.10.
Briefing Room :
While we strive to use terms you can understand in our briefings, you may find it useful to first review our technical analysis overview and video to familiarize yourself with some of the technical terms. We take a different view of the market. Advice based on asset allocation, index funds and life cycle models have proven to be very ineffective in managing risk. Did you know you don’t have to manage your 401k by yourself anymore? Through the use of your self directed brokerage option, we can manage your 401k / 403b account for you!
“When prices of pork products begin to rise, farmers naturally begin to increase the breeding of pigs, hoping to profit from the rising market. Each farmer considers himself astute and novel in concept, quite certain that prices will continue to rise. However, the same idea occurs to a large number of farmers simultaneously. It takes about one and one-half years for a pig to reach maturity, and the same one and one-half years for the market to become saturated with the flood of recently bred pigs. Inevitably, prices fall, farmers sadly take losses and reluctantly cut back production.
Raymond James Financial | Investment Strategy by Jeffrey Saut
The Big Picture
All this week, we are looking at the Housing Recovery theme, challenging assumptions that make up the bullish argument. Monday, we began with Debunking the Housing Recovery Story , starting with Shadow inventory. On Tuesday, it was Reality Check on Home Affordability . Yesterday, we looked at the Problem With Home Prices .
I’ve been getting the predictable hysterical reactions to today’s column. And it’s true — I’m a Sharia Jewish atheist Marxist who hates America! Bwahahaha! But one thing actually worth reacting to is the assertion I keep getting that this is all a distraction, that even if we seized all the money of the top 0.1% it would make no difference to the fiscal outlook. Here’s a piece of advice nobody will take: before you make assertions about numbers, look at the numbers. So, what we learn from IRS data is that in 2007, before the Great Recession depressed everyone’s income, the top 0.1% had around $1 trillion in taxable income.
