MG, Another Story
I was sitting at a black jack table last year early in the morning. It was a strange set up, where it is a "normal" table, but the dealer is a Big Screen video display. Actually, it had a better attitude than some black dealers I've run into. <g>
I was there mainly just to have fun and I'm playing, being a big time gambler, my $2-$5 bets. The dude at the table with me (others came and went) was there to win, and making $25+ bets. After he was up $700, he said "that's enuf," and was just sitting there watching and chatting with me.
He said: you know it ain't working. I said: what's that. He said: you're taking that hit into the dealer's face card. I responded: well, I always learned that that's what you do. He softly said: But, I've counted and you've lost the last five hands that you did it, and took the dealer's break card every time.
Then, he said: Man, you got to listen to the Shoe. I thought about for a few micro seconds, changed, and walked out with some of the casino's money. As I was leaving, he just gave me a wink. Boy, what an interesting lesson.
As I spent the rest of the night driving, I thought about what I had just learned, and it's relationship to the Market. Really not a lot of difference. You can either talk to the chart or listen to the chart. That said, every time I talk to the chart, I get my head handed to me.
As an aside, the next morning at a fast food place, I ran into a dude that just happened to need the amount of money I had won the night before to get his car back on the road. I gave it to him! The next time I was at that casino about a month later, I won the exact same amount. It is a very strange world that we live in Master Jack.
Clearly, my brand of position trading has had a tough time since April. Much like turbulent times in the past, horizontal supports and trend lines have melted like butter. You either change or step away from the table. While I ponder the issue, the Phleet remains in port!
Rule Number One: Do no harm. Get your head handed to you, and go back to rule number one.
TB
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