Nemer-strictly off theme-personal message.
Thanks for asking about my mother-- assure you that I call her atleast twice a week-- she lives in Orlando and still would yell at me if I am not sticking to my time table-- you know what is the best thing she knows Ray very well-- my broker in NY-- she will just call him up and get connected where ever I am. By the way she is coming over to Paris in mid August and will be with me until I take her back to US. All the 5 brothers sisters take pride to serve her no concept of 'old retirement houses' so far in our part of the world nor do we send 'mothers day card' it is every day a mothers day. It is kind of different but it is lovely- full extended family leaning on each other and trying to cope with undue pressures of life together. Give your parish priest my best regards, and tell him I have always remember that little priest of Bangalore in a small Texan town Paris.
I am a firm believer in 'Thy name is my healing O My God and remembrance of thee my hope Love of thee my companion' ( please pass this prayer to your priest he may enjoy it). This is the shortest prayer in times of need and difficulties and it gives me a lot of strength and self-confidence. Again it is my non-conformist nature that I do mix very holy with very basal i.e. God and markets in my opinion can co-exist with equal intensity like families and markets can co-exist. No one should ever forget his first responsibility that is towards ones near and dear ones. It is this unique approach which helps me a lot.
Markets are my a passion because this is what I have to do to keep busy, with best of my efforts to keep myself busy in some other things I do have enough time in a day to follow the markets thoroughly. The kind of travel schedule I have still leaves enough time to check out and feel the markets. Basically either you need to be a part of them or just leave them alone, I work with 8 different kind of key boards now and have several e-mail addresses all over, even in middle of a third world country I do get connected through my internet to NY or in a hectic week like last I would leave lines open with Ray to discuss happenings in the market or to chat with pits and get their input.
Nothing is better than forecasting markets and I not only enjoy the thrill of it but also to see that time and time again similar characters make similar mistakes but stay alive and kicking on the SI--it is the only place which spares all kinds of mistakes, here it provides our `paper tigers and short heroes' a chance to bad mouth the market for a full 2300 points and still maintain their accounts short. Time and time again we see 'whipsawing'. Last night first on globex as contracts were indiscriminately sold in a very thin market with Biggs announcement of 20 % and later in the opening of the markets they first slaughtered the shorts of globex by taking market higher running their stops and then brought the market down to test the Fridays low again shorting a lot of these people who had just squared their positions, falling SPU like a mercury barometer gives a false feeling that Oh here is our chance we can get back our money lost on globex, but the pain never stopped the market came aback up roaring to close just below a pivotal 1155 or at 1153 and change. Now this kind of movements break the backs of real shorts (with the exception of our perpetual shorts here on SI). In itself we have in light of preceding `enough of evidence' that most of these short guys have no idea what it takes to put an actual trade on a SPU contract, how lucrative or destructive it can be for anyone's bottom lines. It is not easy to run a short position if one is short at 1136 on SPU say even 20 contracts he needs to cover and this covering leads to more buying.
For me it is all about finding underlying reasons and causes and affects of a certain move and this leads me to my levels without any exotic stuff- just look at the charts it is all up there, the more one makes it complicated the worst it gets. KISS is my rule to trade markets, academics have tried to add on various tools but the best tool is to know your moving averages well, if someone is shorting the market rebounding from a 200 days MA and 5 out of last 6 times the market has taken to new heights he must really be working off tools which have little resemblance to actual market movements.
One can see it and enjoy it but the best is to look at Kurlack and Barton Biggs the biggies and and try to go against them and win, this is satisfaction at its best, I think markets are fun place treat them as such and enjoy your stay like you go to casino, when you become to serious about money that is the time one goes from pillar to post and looses, like yesterday I was interestingly watching as by 9.50 these guys pits were jumping that we are going down by 10.45 as DOW maintained the levels someone was worried and by 2.00 it was conceded that Bulls have won the day, period no remorse nothing for billions lost by the shorts--- they live for another day, in actual market where one's mouth in on the money ,you sure feel depressed enough after action like yesterday to keep quiet for a day if not weeks.
It is about locking horns with the best on your trade-- SI on its own may not a challenging enough a platform but certainly it provides a chance of an audited statement anytime one needs-- and more over it also gives you to go back and find where did one goes wrong and why did he go wrong.
It is going back and knowing your recommendations which makes one a better trader not sitting and crowing about past glories. I try to go back to my posts and try to incorporate omissions which I think were overlooked, this gives me some satisfaction that I am trying to improve on my calls. Yes I would say that I may retire from SI but market watching like bird watching will remain my compulsive habits it is just fun and I am enjoying it to the hilt.
The whole family and our three children travel together all the time in summers and winters, and we try to teach them markets they have paper portfolios and I teach them in and outs of the markets, the most important training I impart is inner strength and face the adversary, that is how one can trade SPU and that is what we do all the time here, I hope they would never need to work for anyone and our small little 'Ike and Co' will become known for its good gentle advice and fortitude. Self employment with markets is my motto, the HNI's I deal with are just on the moon so am I, they keep seeing their returns better on a up or a down day so for me every moment of these beautiful market is a fun I cannot overlook.
It is for this I have my vacations with the markets even as I move on to South in few days my markets will remain with me. Beaches and markets get along very well, with a small mobile you are having fun and making little ripples at he same time. |
