Increased Awareness

Increased awareness actually affects your life. Most of us spend our days "living" and "dealing with the situation", and not living. Thusly as we "prozac" America, multi tasking cell phones and email in hand (literally), eat and guzzle gas (Floyd's sad American portrait) the babblers will tell us "family values" and the doomsters that the "end is near", while the rich get richer, and the middle class poorer. Many of these are historical by pattern, and without gain, we are repeating.

For the trader it's wiser to see reality for what it isn't, and for what it is. Not what you are not noticing. Most of us do not notice reality, as we are living within it. The calm trader is "watching the moment", not participating in it, and can see his/herself from the outside.

This is clearly metaphysical talk, and it works in trading.

Yesterday we did not issue for a new signal, seeing the market at potential tops. In morning trading, on a reduction to oil pricing, the market hit a theoretical Dow top of 11,738 and the OEX topped at 596.

This MAY be a top.

An interesting email from a subscriber on Floyd's "waiting the day out":


I do hope this does not come across as gushing!! How does a man tell another man - in this day and age especially - that he he truly admires the other? The trouble with email is tone of voice is missing, so I do hope you can plug that in yourself :-)

I have always admired not only your skill but your wisdom. Today that reached its height...... as follows.........

I "knew" best potential market top and, as you did not write it off yesterday despite the way down Futures before the market and despite sending out the Put recommendation, which I read as more of hedge, I admired your wisdom more than the skill. The market went ahead and did its stuff. It probably would have topped yesterday were it not for the setback start.

OK - so today there was no other view for me to take than the Dow would touch 11635 - 11640. If it winced back at this point it could be top and if it satyed below for "a while" then it was top. If it goes on through then its next halt is 11750 (all actual figures used). As it happened the Dow did wince at 11635 then surged up to 11700 before turning down to play at 11640, to be expected, then down to the next playground 11600, yesterday's close, but all trending down.

Around there somewhere I expected a mid-day Alert to confirm your view that the top had been reached. Radio silence - OK, good, THIS is what we learners need, no matter what grip we have on the technical study it is wisdom we need to develop - this makes me smile......... you are waiting for something, you are watching and there is a trigger, a confirmation that top was or was not reached, a.... dunno what to call it. Teach me all the technicals you like, it is the silent wisdom that I seek, and if it takes years then........ so be it of course!!

You stay silent when you watch and this is what I personally admire the most....... may I please ask your thoughts on today. I'm not asking for the message to trade or the signal or any of that stuff, I'm asking "as you watch, what is it that is going to make you sit forward in your chair and break silence?"