Friday, October 31, 2008

Now EOD 10/31/08

5:30pm: I've only read this article once, so I'm not ready to comment (intelligibly anyway in my current state), but it dosn't say much that I haven't fricking RANTED and RAVED about the last two years, . Sysin bought it to my attention, thanks buddy.
Right off the batt, I can tell you right away, I TOTALLY disagree with the last paragraph, it is NOT our responsibility to fix what we have done (the Boomers), like I told you when I headed out on my Odddessy last spring, and I stood up on the table screaming at my two sons, that it was THEIR responsibility to march on Washington, and hang, draw and quarter everyone of the Boomer MF'er's there, and when they suggested they start with me, I reminded them that I would do it myself, if I wasn't so old and jaded! MY LIFE IS DONE!!!!! It's up to THEM to make life better for themselves, like I thought we were doing when I was their age (28-35). I mean, come on, they've seen a classic way of how to totally screw this country up, THEY SHOULD KNOW WHAT THEY HAVE TO DO, TO FIX IT!!!!
Anyway, it's a good article, although FLAWED, but hey, aren't we all!!!!!!!

I have to tell you, talk about the idiot Boomers, I'm watching the late FOX business show, mainly because that fricking idiot Crudlow is doing a virtual informercial for his buddie McCain (isn't there some thing illegal about a network trumping a political candidate), and they have on this thing that is kind of a buy, sell or hold on a stock, but it is mostly about people. They had one about Playboy and Hugh Hefner for god's sake, hahahahaha, is that aid's infested rat's nest still alive?? Anyway, you can text your response in to it, and they had one on Al Gore soap boxing for Obama BaNana down in Florida, and it please's my heart to see that 87% of the response's were a "sell", hahahahaha, maybe there's hope for this country yet!!

Which brings up another thing dear to my heart, and that's that Humanitarian, Boone Pickens, hahahahahahahahahahahahahahahahahahahaha!!!!! How much is his "fund" down this year, 65%????? I'm tell'in ya, da Boomers can't die fast enough!!! The problem is, is that Hugh Hefner and T Boone are my fathers', oop's, I mean, my father's generation, SO WHY BLAME THIS STINKING THING ON US POOR LITTLE BOOMER'S, WE GOT THIS FROM THEM!!!!

Noriel Roubini should stick to just writing about his thoughts, he was on CNBC and I can't understand a FRICKING word he is saying. Speaking of which, he should just QUITE now, or retire and just write papers or some thing, while he's still at the top of his game, you know what I'm saying??!!!

Speaking of the Boomers, will Hillary start running again, next WEDNESDAY, HAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!

2:15pm: Well, not bad, we finished positive, despite a pretty cool sell off the last hour, that finished with a gushing rally. Well, all accept the NasDogs, they were down slightly, which suprises me, because my two little leaf option plays, INTC and AMAT, did pretty good, hmmmm.
Anyway, I'm off to the ranch, before I get snowed on, and watch the moo cows piss on the flat rocks, get drunk and toast'em to my new grandchild, lator gators, have a great weekend.

6:30am: HEY, CONGRATUALE ME, I'M FINALLY A GRANDFATHER!!! Brooks Gibson Hargrave, a bouncing baby boy, was born this morning at 12:50am PT. The first words out of his mouth, after being slapped on his behind, was "SELL SELL SELL"!!!

Now, I know, that HISTORY NEVER REPEATS ITSELF!!! The red arrow points to the last time we had such an ideological change in the White House, the 1992 election. The similarities are pretty close, we actually had a little mini crash in October, we had an EXTREMELY unpopular Republican president named Bush, who had us in a war in Iraqi, and had made a mess out of the economy, who loses to Billy Bob Clinton, a new deal Democrap, who would also win control of the house. We went down for two weeks after the election, and then took off into the end of the year, luckily, HISTORY NEVER REPEATS ITSELF, RIGHT!!!!
I bring this up because it's just a coincidence, but I watched the Oracle of Wall Street yesterday, Charles Nenner, , who, after predicting the bottom in mid October of this year, is now saying that we will bottom in mid November, with commodities bottoming a week later. This time frame also fits fairly well with Hysterical, eeeerrrrr, historical, patterns when we come off of bottoming patterns like we have now. We usually get a sucker rally, with everyone calling a bottom, then we go back to take that low out a few weeks later, scare the shit out of everyone, wash out all the remaining weak hands (like me, hahahahaha), and then the real rally starts.
Hey, it's just a thought, I'm allowed to dream if I want to.

4:51am: We are in for a SCARY open this morning, futures are all DOWN, DOW about 150, the ES reached an over night high of about 962 just before 2 am ET, and had a pretty good dump, down to 940 or about 22 points, that was at 5am ET, we have gone side ways since. Most of the weakness seems to be related to weakness over sea's with some head line earnings warnings, and the BOJ lowering interst rates .20% in a split decision.

I got a comment from Jacques last night asking if I would recommend Toni Hansen for a mentoring program. That's a good question, and I would rather answer it in the open. He mentioned that I have said she was my mentor, I consider her that, but I never took the one on one program, what I did was spend two years in her real time trading room from 2000 into early 2003, that was back when it was a pay site. At that time, besides considering the room as a "trading" room (they day traded all day), they considered it first off an educational site, as each trade was carefully broken down into the reasons we took it, why it succeded or failed, at least twice a week we had class rooms after the market closed, about trade setups, patterns, etc etc, and once a week we had a "trader's circle", I called it a circle jerk, where Toni would call on individuals to talk about the baaaaaaaad trades they made during the week. That was probably way more instructive than the good trades, as there's nothing that clears your head up faster than talking about embarassing stuff in front of your contemporaries, we would then go over why it went bad, etc etc.
Toni and her partner were also swing traders and position traders, her partner Brandon Fredrickson more so, he was more of a macro type person, he now run's a hedge fund. One thing you can't describe is the work ethnic involved, it was truly treated like a business, Toni would get sick a lot (typical woman hahahaha), as she was often up after midnight (online I might add), preparing for the next day, and the room would be open 24/7, with most of us in a few hours before the open, the single most important thing I learned was risk control (what ever happened to THAT lesson, hahahaha, idiot), and that was easily their single biggest concern, at all times.

This is getting to long, I could go on and on, but my point is, I have no idea what her "mentoring" program is like, I think it's two weeks or some thing, but I basically lived with her for over two years, I don't know how you can subsitute some thing like that, and compress it into two weeks. Do I recommend her?? Of course I do, I just can't tell you what the course is like. ALSO, YOU have to decide what type of trader you are going to be, day trade, swing, position, stocks, options, commodities, futures, etc etc, what kind of time you have to spend on your trading, if you plan on making it a hobby or a business, etc etc etc.

I have mentioned this before, but I have probably been a member of about every stinking trading room on the planet at one time or another the last five years since I cut out on my own, I've listed them some where, trying to learn as much as I can (what I found out, is that you truly CAN'T teach an old dog new tricks, hahahahaha), and if were going to an educational site, as well as a TRADING site, I would recommend the following:
Toni dosn't have a room any more, just that free room and it's not the same, but one of her students that started with her about the same time I did, and he DID go through the mentoring program, and he eventually became a sort of partner with her and helped run the old room, is Ivica, , I have not idea what his room is like.
I also HIGHLY recommend Pristine, , you can learn, and EARN, at the same time. Now, I guess the old owner has come back and taken the company back over, so I guess Greg Capra and his son are not there anymore, so I don't know what it's like now, but they have a free trial as well.
Another one that I am getting more and more impressed with, just through their free stuff they send me each week, is Matt Frailey at Break Point Trades, , when I say impressed, I'm talking about their sincerity, their efforts to control risk, their analysis and educational value, and the learn and earn capability at the same time. They don't have a "room", I guess they run a type of blog room or some thing.
Last, but definitely not least, I know that BZ runs a mentoring program for a select few, . He's a stinking day trader of course, hahahaha, but after getting to know him the last year or so, if that's what you are interested in, you could definitely do a lot worse.
Good luck to you.


sysin3 said...

mazel tov !

sysin3 said...

did I say "short" ? lol. and buy the dip ? ooops ;-)

excellent article:

sysin3 said...

Just to screw with Krudlow, I just got back from early voting .....

straight republican, "no" to every damn bond and ...... Obama !

lawdy, save us all, my great-greats are spinning in their graves (in grey uniforms ;-)

and take that, Larry ;-)

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