A Rock is Not Hard

By 1.30 p.m. the market had hit lows, again, of 10,123. The world is babbling about another large correction, that Europe will bring us down, that Obama is at fault for the BP disaster (my favorite), that half the country now believes we are heading in the wrong direction, and that much of the country believes we have become a socialist country (we have been one for over 40 years).
I often hit a point of laughter as the talking heads explain away what just happened, or why it happened, or why they recommended BP just before it was found guilty of faulty rigging, safety regulations, and compassion.
I still remain amazed that it takes Rolling Stone Magazine to first uncover:

1. The Goldman Sachs fraud
2. The oil fraud
3. The Afghanistan idiocy.

They are not paid off by lobbyists. Matt Taibbi, son of the veteran newscaster, is a "gonzo journalist." He can't be argued on this factual analysis, and he speaks in his language. which includes swear words so it can't make "the honest papers."

Chartists following the head and shoulders formation we wrote on yesterday saw the immediate downside that occurred at opening.
Chartists again had reasoning behind the FEAR. Floydian comments filled with satire are in bold

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-- LINK BETWEEN BONDS AND STOCKS CHANGED IN 1998-
-- FALLING BOND YIELDS ARE NOW BAD FOR STOCKS
-- FALLING RETAIL STOCKS ARE ANOTHER SIGN OF WEAKNESS
-- SO ARE DROPS IN HOME DEPOT AND LOWES
-- 13 and 34 DAY EMA LINES ARE STILL NEGATIVE

Retail sales are far off because we are saving money as a people.
Home Depot and Lowes are off because retail sales are off, and the economy is off
Chartists that give us this type of information are responding to what occurred that day.

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We have done well in our Blue Chip Options stock and stock option picks this year as well as trading the OEX successfully.

We've certainly noticed the rules of stock trading have totally changed, and most of the stock books are now outdated.

"The thing always happens that you really believe in; and the belief in a thing makes it happen." - Frank Lloyd Wright
The most successful of our students and subscribers adhere to higher risk orientation, strong capital, and complete control of emotions. Brokers that use us, usually the most emotional,
or analysts that are ready the "project the Dow" to know where to "insure a position" are looking most for the trade ranges that they will occur in.

PNF charting does this perfectly, from the one minute to the weekly chart, and with the various "views" that one can have of the supply and demand in real view; a chart without noise.

Set your rules of loss and risk ratio. Decide what you are trading, for the day, for a few days, for the longer term. How often do you want the excitement or FEAR of watching the market by the nanosecond.

If you are going to get good at something, you have to do it 50,000 times. A proven fact. Study. Paper trade. Ask questions. Trading is an art, a zen in the way of what we have made money, which is not real.

As a rock is not hard. It is only as you know it to be.