The Market is Frozen

It is this simple. The market is frozen. We hit highs of 10,483 by 3.00 p.m.,and lows during the same whipwsaw of 10,320. The 520 Calll was profitable for up to 1.00 per contract in extremely hard and tight trading. We'll keep it as an open signal because of this, with NO second buy, waiting for a what we think might be a final push to 10,550 and beyond.

But as we noted in our alert yesterday this was high risk, and today is. When no bias is clear it's any "anything goes market" around trigger points. We will additionally list a similar put, also high risk,for those that want the exposure to a double risk.

Floyd is not personally trading this market. It's too flat to make money.


Weaving Straw Baskets-Fifty Steps to Understanding

1) We are here to learn lessons and will struggle through until we learn them. They may be very simple lessons.

2) In all steps of the life experience, and the dramas, people tend to put love in the background, or it becomes part of the events.

3) Love is life.

4) If you repeat an action many times, it becomes a habit. If you continue, “using the habit” it must be something that you value, or the habit will become instead a self-destructive tendency.

5) Unrealistic expectations occur from being dishonest with you. If you expect success at something you must earn it, and few that are lucky last.

6) The question What Do I Want is the most important question you will ask yourself in your life. Your answer defines your happiness. The question is not to tell yourself what possessions and monetary dreams you wish to come true, but to answer, “What do I want”.


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Many traders write me personally and get to know me. It's part of this service. As students progress to Level 3 or Advanced Mentoring invariably they want to "replicate" what it is that I do.
So, here it is:

1. I trade only when I am sure.
2. When I am on a run of successes I trade more, and when I begin to lose I stop trading.
3. I take "fishing days" where I just watch the market.
4. All that matters in economic timing to me is the next two weeks, not the next two years.
5. Stocks must have a reason to go up in value besides performance or product, and I recognize this as I invest.
6. Rules are part of our system, and I follow them. There are times I vary, but only slightly, and not often.
7. Trading is pitting my mind against others than are trading the same signal. I must recognize this.
8. When I fail, I write down what went on. Was it me? Was it emotions? Or was it just the market with a sudden surprise?
9. When I overanalyze I stop.