<<If you followed this thread, I think you'd realize that Ike's children will NEVER have a problem getting a "real job" <g> and I think he is EXTREMELY wise to teach them the trading side of the markets, including the perception and emotional sides we deal with daily. Especially since they are students of Business and Economics. Just imagine if WE knew what we know now at their age...what phenomenal potential that would have offered us. And so, armed with this knowledge, that phenomenal potential is now THEIRS. >>
Thanks for the above post, the children get more education as they read this global phenomenol Idea thread. They see what it is like to write an opinion and they also realize that it is most important not to be defensive, what took me three years on Ideas, my children go a short cut lesson of it in last few days. This is the power and empowerment of masses. Honor or diginity is dependent on the integrity and honesty of opinions.
It is normal thing for me that from 1000 on NDX these pages on 'Ideas' are wittness to the fact that at points of inflexion my bullish views do look out of sort, however I know one hting that for change of direction big time fundmanetals of this economy have to see a dramatic change like real inflation creeping up, like global demand falling steeply or productivity growth slowing down huge. The kind of productivity gains we have seen in US have not even being realized in Europe or ASEAN nations, the oil producing countries and commodity rich countries who were facing severe shortage of cash resulting into a global liquidity crisis are sititng today on heaps of cash and ready to throw on productivity gains phenomenon. The biggest benefactor would of course be US. Now a failure at 1528 which I highlighted here not once several times or re-test of 1455 is within my definition of TA a normal retracement. We will see this back and forth filling like we did from 885 to 1000 on SPX and once that base between 1350 and 1528 get solid we will see market moving along the path of least resistance, from 2/10 we had 5 attempts to break this 1350 low inter day low of 1350 was made but we have since 2/10 made higher lows, the little I know only tell me that we are going to go higher although in between if we take out 1445 we may see as low as 1382 so the play on short will amply around but for me to pull hte trigger is difficult at the moment, I am using 7.5% of any purchase to buy some protection, becasue for me if we move higher we will move much more than 7.5% if we go lower I will see some protection accorded to me. Now neither htis bullish nor bearish strategy it is safe strategy and that is how I would like them to play.
Consistency of analysis and reading of the market a little different from the maddening crowd has formed the corner stone of my strategy, I am never overtaken by the firmness of my believe to bet my home neither afraid of opinions aligned agaisnt me. I can be wrong but with a reason. I always tell them on evey issue to take a position in life, don't ever be neutral on any issue. Make an opinion, develop an argument and be always ready to adopt new ideas of if your opinion turns out to be wrong. |
