Wednesday, May 27, 2009

Wednesday Notes - Mid-Range

7:00pm Well, the market's version of an ATM was in full force in the Europe and early U.S. sessions as we were blessed with another textbook oscillating morning after trend day (gotta love 'em) where I had my "B+" game on, before tiring later in the day and being less sharp on the afternoon breakdown sequences.

All in all about what we'd expect after yesterday's action, with a bit of surprise at this end in terms of the afternoon breakout heading south vs. north. Then again, we do remain in a longer-term range and closed smack dab in the middle.

And so we'll break out longer-term 120-minute range chart for once to maintain some sort of perspective on the forest as we hack at the daily trees.

In general, I feel my market reads remain strong with my execution still lagging behind a bit. June will be focused on merging the two.

btw, thanks to Barbara who sent me this incredible inspirational video which is a compilation of some of the greatest movie motivational snippets. Seems like I'm not the only one using corny movie analogies to get the blood pumping.

I might begin playing the video every morning ... especially after a loss.

And yes, you've got to get mad!

Reminder: 1 Month countdown to the Boston Bamboo Cookout. Please be sure to RSVP if you plan on attending.


Charles said...

re: tape reading good, execution bad...Don, I find myself in the same boat right now. I should mention that 2 months ago I switched from trading the 2x/3x levered ETF's(the SKF was moving $20-40/day last fall...oh how I miss those days) to the ES. And knowing you once traded ETF's, I am wondering if you have any words of wisdom regarding making the leap to ES futures from ETF's?


Don Miller said...

CharleS -

Best way I can say it is that it's the same charts with a different "feel". Took me a while to make the change, and some days, I actually miss trading the ETFs.

Yet for me, the commissions for the sizes I wanted to trade with frequent risk managing scratches grew cost-prohibitive.


Severino said...

Hello Don,

Thanks for passing on the video that Miss Barbara bestowed on to you.

I do like to frequent a review from the man who has had a big influence on me many years ago. Before there was the touting of “The Secret” by Oprah, there was “What ever the mind of man can conceive and believe, it can achieve” by Napoleon Hill.

If anyone has anything that is inspirational, please pass it on.



Ric said...

Here's an inspirational video that's been out a while, but some of you might not have seen it yet:

All the best,