The Chicago Tribune filed for Chapter 11, and the "small 3" are in Washington begging for money. And the market moved right up 300 plus points to the magic 9000 border. Go figure.
Of course, the market gap up was too strong for a call buy on Monday, but traders make entry to the put.
It is very likely that a Washington bail out of the "small 3" will be considered "good news" and send the market up, and it is just as likely that it may be the straw to the buying public that would break this rally.
This is the fourth time in recent months we've toyed with 9000. It held Monday, a clear sign of rally, but I remain suspicious. 8150 Friday morning to 9040 Monday afternoon....what a market.
Noam, a trader in Israel studying with us, trades to "give" to others. I find this noble, and find him inventive, creative, and a great listener. From his comments to me this past weekend:
"BTW, your philosophy is what I think too:
increasingly I feel that nothing may exist - it may all be a figment of my imagination
or a dream, since there are so many coincidences, and also because I'm the only one
who "sees", everything else may be real or not - I have no way of knowing.
So many things happen which have no logical explanation - e.g. I think of something or tell
someone about something and a short while later (seconds to days) those same things
happen in reality or I hear about them in the news, and the probability of these events
are infinitesimal not things that happen usually.
I used to talk a lot with a friend about philosophical views when I was in high school,
about what reality is or isn't or if anything actually exists and what it means to exist.
Is there anything else beside the universe, are there others in this reality/existence
or in other ones, can anyone (even god) know of everything possible since there is always
one more way to think about something? how does god know he exists or is real (whatever
that means?)
There is also a concept called a Boltzmann Brain:
Boltzmann brain - Wikipedia, the free encyclopedia
Which had me thinking that I may be a detached mind floating in limbo (all alone), and everything
I see or remember is inside of that entity.
How did the universe emerge out of nothingness and how can it exist in nothingness
if nothingness precludes the existence of anything?
How do I know that what (little) I remember is real or if it just formed this instant.
Does the universe exist continuously or blink in and out of existence with vast voids
in between (I can't say "of time") because if time stops and then restarts then how can we
know? (and it doesn't matter how long it stops since a second is the same as an eternity,
and you can't even talk about seconds or years because time has stopped.
Do you have similar thoughts?"
I do have similar thoughts, and I do know that our religious clients will immediately find "gospel" and "reason" for existence within their first responses, and this is fine, too. We as minds must be open to all, as we only know what we know, and not what we do not know. This is the most important concept of all.
What we must do as traders is to analyze the "why" of a situation, not just the "how."
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