In Case You Thought You Were Having A Bad Day

Mckenna Journal

I was having a bad day…and it was only six-thirty in the morning.

As I lay in bed on what I wished would be a lazy Sunday, thoughts of all the crap I was going to have to do instead ran through my head.  Dropping my wife’s car off at the auto body shop was number one on my annoyance list, necessitated by some retard who in her haste to get the optimal parking space at Smart & Final backed into us the previous weekend.  This of course meant picking up a rental car as well.  More wasted time and more wasted money I thought.

“Shit,” I said to myself.

Add to that all the work I had to do around the house, the mandatory trips to Costco and Target, plus a blog post I wanted to knock out, and I knew the day was shot.  The week ahead sucked-ass as well.  My daughter had a school event on Tuesday night, which meant I had to re-schedule my yoga, and then there were a slew of business meetings coming up that I had no interest in, and blah, blah, blah…..

Right about then my kids ran into the room and jumped on top of me like I was an inflatable raft while yelling at the top of their lungs, “we want French toast, we want French toast.”

Ugh!  French toast and all its accoutrements.  Eggs, bread, syrup, butter, cinnamon, vanilla, and nutmeg.  Fucking nutmeg!  And then the dirty pans, sticky dishes, spilled milk, and screams of “his piece is bigger than mine.”  I attempted to pull the covers back over my head but the day had already got its Freddy Krueger-like fingerknives in me.

I somehow soldiered through the next 24 hours, dealing with all my Kardashian problems and finally making it to Monday morning when life, as it has been known to do, slapped me upside the head and made me feel like a total douche’.

Some of you know that I am a board member of the McKenna Claire Foundation, a charity founded by my high school friends Kristine and Dave Wetzel after their daughter McKenna (affectionately known as “Macky”) passed away from a rare form of pediatric brain cancer called Diffuse Intrinsic Pontine Giloma (DIPG).  In the already horrific world of cancer, it may be the worst.  The mortality rate is 100% and it took Macky away exactly six months to the day after she was diagnosed, two weeks shy of her eighth birthday.

On Monday morning I saw the photo at the top of this post, along with a note Kristine had written in reference to it on the MCF Facebook Page.  It read as follows;

These are McKenna’s words, written in her journal sometime during her battle. It is one of the many moments that haunt me, but today it perfectly described my mood.

Today was beautiful. The sun was shining, spring was in the air, families were out enjoying the day, but all I did from the time I woke up was cry.

From the time I opened my eyes, the huge hole that is ever- present in our lives was front and center. Sunday mornings are for being lazy, eating pancakes, and enjoying the moment. This is what our Sunday’s used to be like. Today, there was just a sense of loss. One less plate to fill with pancakes, no one to hang out with as I drank my coffee. Our spring visitors, the ducks, came and laid an egg on the pool deck and I wanted so badly to be able to share it with McKenna, who loved the ducks. And it all went downhill from there.

I took the dog for a walk and everywhere I looked it seemed like there were little blond girls with impish smiles out enjoying the day with their families. One little girl rode by on her bike singing Taylor Swift at the top of her lungs and I swear I had to do a double take. It seems I am constantly looking for that flash of a smile, the glimpse of blond hair, yet I am never able to find what I am looking for. It is getting to the point that I do not know what McKenna would look like. I am looking for the almost 8-year-old McKenna, but in reality she would now be almost 10. There is nothing as heartbreaking as not knowing what your child looks like, of having to wonder what her interests would be or if she would have to have a new bike because she would have grown so much. 

Our every day is filled with the presence of McKenna, of who she was and the fight she inspires. Some days, however, her absence is what takes precedence. The loss of her potential, the absence of joy in our lives without her. Today was one of those days.

I hope that you enjoyed today. I hope you rode bikes to the beach with your children, that you surfed, played volleyball, or just had a late breakfast together. i hope you all turned your faces to the sun and enjoyed the moment, for this is what is truly important. The small moments where you simply enjoy each others’ company, smile, and feel the love you have for each other. This is what life is all about.

I don’t mind feeling like an idiot.  If you’ve read my blog for any amount of time you know that I’ve done enough stupid things in my life to be “familiar” with that feeling. What I do hate more than anything else though is to feel ashamed.  It’s something I’ve rarely had to experience in my life, but after reading Kristine’s note that was all I could feel.

Once when I was seventeen I pulled my car over to the side of the road in the middle of the Australian outback at midnight and got out to look up at the night’s sky.  There may be no other place on Earth so removed from artificial light and all the heavenly bodies shined brighter that night then I had ever seen them before, literally creating a “dome” of stars from horizon to horizon.

My mind started to wander out into those stars, wondering how they were created, how far they stretched, and if anything was beyond them.  I suddenly got overwhelmed with a sense of insignificance and insecurity, the kind that takes your mind to places that are not good.  Reflexively I “shut it down,” quickly jumped back in the car, turned on some INXS and shotgunned a couple of Fosters to bring me back to reality.

I can only imagine that that would be about 1/1oooth of what would happen to my mind if either one of my kids were to pass as Macky did.  Yet my friends have lived that horror, are still living that horror, and have somehow managed to create some good out of it.  I on the other hand was bitching about French toast.  Yes, I think ashamed would be the appropriate word.

I am loath to put any sort of positive spin on the death of a seven-year old.  It would take the deftest of touches and an almost insanely optimistic view of life to make “lemonade” out of the Wetzel’s situation.  And even then, I would never have the right to do it.  All I can do is try to find some meaning in it, in the way that only an outsider has that luxury.

Macky lived brightly and died far too soon.  The pain of her loss has driven her parents and some very committed friends and family to create an organization dedicated to finding a cure for DIPG.  The McKenna Claire Foundation exists and because it does there are children alive today and yet unborn who may never have to write “I do not like this day” nor will their parents have to suffer as my friends do.

This is the part of the post where I usually tell you that you can subscribe to my blog for free or follow me on Twitter, but not today.

I don’t ask for much from my readers.  Technically I don’t ask for anything.  But today I am going to ask you for a favor.  Take a few seconds and “like” the McKenna Claire Foundation’s Facebook page here.

Or if you are feeling extra generous, take sixty seconds and donate the cost of a few lattes to the foundation here.  It’s a 501(c)(3) charity and I guarantee all the money goes to finding a cure.

But no matter what you do, make sure to take time out today to tell those that are most important to you that you love them.  And remember what a “good day” it is for you.

McKenna Claire Wetzel aka "Macky"

McKenna Claire Wetzel aka “Macky”

Read “Macky’s Story” here. 

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

Your 20 Trade Ideas For The Week Of 3-25-13

This market has definitely returned to the “short-killer” mode as of late, but having said that, there are actually a number of short candidates this week which hasn’t happened for a while.

The market is incredibly strong but I would be very careful on initiating any new longs as we are due for a pullback.  If you area putting new money to work long, reduce your size and make sure you have tight stops in.  Okay, let’s do this…..

Is $AAPL, everybody’s favorite Kool-Aid stock finally done going down?  Who knows, but it is coming out of a large down channel that could signal a change in character from the previous seven months.

Financials have been strong as of late and $CMA is forming a bull flag here.

$CF broke a downtrend line, consolidated, tried to run higher but failed and in the process broker a longer uptrend line.  After a bounce it looks like it could be headed lower from here.

After a strong run $BSX is consolidating nicely getting ready for the next move up.

After a year-long narrowing range $BRCM is slooooowly starting to break out.  Long-term play here.

At the first of the year $BIDU looked like it might be getting ready to break out of a year-long down channel, but it failed.  Now at the bottom of that channel, look for a reversal in the area indicated by the circle.

Another hot theme this year has been real estate and $AKR is forming a tight bull flag here.

$AIG has made a double-top and now is breaking an intermediate term downtrend line.  The next move may be down.

Not sure what $CYBX does but it has broken a trendline and now looks ready to break down out of a rising channel.

Another one that I have no idea what they do, but the chart in $DSCO looks ugly and the next move may be down.

The range in $GME continues to tighten setting up a possible break to the upside.

$GOOG is coming back to re-test its breakout into all-time highs.  This tight flag may reverse at the 50SMA coming up.

No specific setup here in $LNKD but its powerful uptrend makes it one to watch.

Climbing an uptrend line, $MITK is about to take its fifth shot at breaking above gap resistance.

Once left for dead $NFLX is everyone’s favorite trading stock now.  This high level consolidation after its earnings gap up is bullish.

Yes utilities are boring but there is a nice tight flag forming here in $PNW.

Nice high-level consolidation here in $RDN.

A breakout from a channel like $REGN is forming can lead to a sustained move up.

Along with casinos, the brokers have been my pick for the sector to move this year. $SCHW is forming a tight flag from which may head higher.

Rarely do you get such an orderly and repetitive move like the one here in $SLV. The consolidation range it is in now may just be the pause before heading lower still.

$SODA is on a mission to prove that they are not a fad and I like the look of the stock here.

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

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Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

Best Of The StockTwits Network 3-24-13

Let’s be honest, you could pretty much throw a dart any day of the week at the StockTwits Blog Network, and end up hitting a post that is better than 99% of the other stuff out there that passes as financial blogging.  So to say these are “The Best of….” is a little disingenuous; let’s just say these are some of the posts from the last week that caught my attention and I think will interest you.

Using RSI to enter a trade starring F5 Networks 1nvestor

Focus on Norway not Cyprus Abnormal Returns

Where Do We Panic? All Star Charts

Stock Trading Ideas for 3/25/13 Alphatrends

Stop The BS. Now. Altucher Confidential

CWS Market Review – March 22, 2013 Crossing Wall Street

Taking Control of Our Trading Madness Derek Hernquist

SPY Trends and Influencers March 23, 2013 Dragonfly Capital

Marketview: Playing With Fire Dynamic Hedge

Stock Picking …Just Do It! Howard Lindzon

5 Reasons I Like Netflix Joe Fahmy

Voodoo Math, Apples and Oranges, and Andrew Ross Sorkin’s Misinformation Kid Dynamite’s World

Copper breaking critical support Peter L. Brandt

Google Is Eating The Internet Phil Pearlman

Fauxpreneurs What Should We Do With Them? Points and Figures

Zugzwang in Cyprus The Basis Point

The Talented Blonde Looks Fabulous in Bloomberg Briefs Talented Blonde

Copper, AUD/USD and the SPY The FX Cafe

Dissenting Opinions Form the Basis For Your Opportunity to Profit The Minimalist Trader

Backstage Wall Street Turns One! Thank You! The Reformed Broker

Major Breakdown of Copper Coming? The Armo Trader

Quarters End: Buy ‘Em, Sell ‘Em Or Hold ‘Em ? Upside Trader

Architectural Index Shows More Building Coming ValuePlays

India’s Love For Gold Can’t Be Curbed With Tariff Hikes AlphaVN

If Silvio Berlusconi Couldn’t Blow Up Europe, Then Neither Will Cyprus Sizemore Insights

What happens to the markets when Bernanke speaks? Seasonal Odds

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

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Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

Where The Music Comes From In The UK – INFOGRAPHIC

I have to say, this Infographic of where some of the best UK bands came from is pretty cool. Obviously London is a honeypot for talent, but who would have thought that both Black Sabbath and Duran Duran came from the industrial town of Birmingham?

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Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

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Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

Best Of The StockTwits Network 3-16-13

Let’s be honest, you could pretty much throw a dart any day of the week at the StockTwits Blog Network, and end up hitting a post that is better than 99% of the other stuff out there that passes as financial blogging.  So to say these are “The Best of….” is a little disingenuous; let’s just say these are some of the posts from the last week that caught my attention and I think will interest you.

A “to fade” trade in The Men’s Wearhouse 1nvestor

The stock market and economy are two very different animals Abnormal Returns

Where Are The Overbought Conditions? All Star Charts

Stock Market Video Analysis for Week Ending 3/15/13 Alphatrends

How to Get Off of Bottom Once and FOR ALL Altucher Confidential

10 Things I Wish I Knew When I Started Trading bclund

CWS Market Review – March 15, 2013 Crossing Wall Street

2 Reasons I Am Long The QQQ’s Dragonfly Capital

Bubble Exchange: Technology vs Financials Dynamic Hedge

The Pressure of This Boom… Howard Lindzon

Nasdaq 100 Rebalancing – When The Losers Become Winners Ivanhoff Capital

“You Adapt, Evolve, Compete or Die.” Joe Fahmy

I Need Your Help Replacing Google Reader Kid Dynamite’s World

The Freudian Put Phil Pearlman

The Liquidity Problem With HFT In Equity Markets Points and Figures

Fed Events & Rate Volatility: Goldman Sachs The Basis Point

In The Market, Opinions Are Useless Words If You Don’t Back Them Up With Cash The Minimalist Trader

The Streak The Reformed Broker

Oil Is Bouncing Back To Some Resistance The Armo Trader

Now That You’re All Bulled Up….. Upside Trader

Boomerang’s To Add To Housing Demand Value Plays

Starbucks Makes A Cost Effective Entrance Into India AlphaVN

Choosing the Best European Dividend ETF Sizemore Insights

5 Tech Stocks That Typically Rally After South by Southwest (SXSW) Seasonal Odds

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

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Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

The Market Is Very Dangerous Here And You Should Feel Uncomfortable

This post originally appeared on TraderPlanet.com.

If you are currently trading this market, you need to ask yourself an important question…

“Do I feel lucky?”

Well, do ya punk?

Wait….sorry, that’s the wrong tagline. What I meant to say is, “Do I feel uneasy?”

Because If you don’t you could be heading for a rude awakening.

If you’ve just been watching the headlines as they constantly report record highs in the market you might wonder why anyone should feel uneasy. But this is actually a very dangerous market right now if you take a moment to think about it.

For example, if you have been trying to get short over the last few months like a number of traders I know, this market has just been continually handing you your head.

If you opened positions when this run began and then started trimming profits as the move began to get long in the teeth, you are sitting on the sidelines watching the parade go by right now. And you might be fighting the temptation to go back into the market with size, as you know that the odds of a serious pullback increase with every up day.

In fact the only status you could have right now in which you would feel at ease with would be if you had long positions that you have held for quite some time that are heavily in the green. And if that is the case, you are not trading correctly.

I know what you’re saying, “there’s no such thing as ‘correct’ trading, and if there was who are you to decide what it is?” Yeah, save your breath, I get it. What I am saying is that a rising tide lifts all boats and in markets that relentlessly go higher each day it is easy to mistakenly equate your ballooning profits with your trading skills.

Any serious risk based methodology would require you to have raised cash from your profitable long positions by now. So if you are still “all in” at this time you might want to take a closer look at your trading rules before it’s too late.

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

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Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

Drummer Porn: Rufus Jones

Not only does Rufus Jones get all the way around to the right hand side of his kit using the traditional grip, but he does it wearing a freakin suit and tie.  Too cool!

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

TBoBbanner

Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

10 Things I Wish I Knew When I Started Trading

We all wish we could go back in time and relive the youthful parts of our lives, but with the benefit of our current hard-won knowledge.  God knows I do.

There are so many things I would do differently.  For one I wouldn’t have had those four extra shots at the high school kegger where I ended up puking my guts out in the bathroom for the rest of the night.  I probably would have bought $MSFT when they IPO’d.  And I definitely wouldn’t have blown off an awkward, gangly, pimple faced 16-year old Sofia Vergara when she once told me I was “el hombre mas guapo en todo el mundo.”

But hey, what can you do?

In an effort to help traders avoid some of my mistakes in trading, and since I am a giver, here are ten things I wish I knew when I first stated trading.

Complexity is your enemy

Take a look at almost any trading platform or charting software today and you will see more studies, indicators, and drawing tools that any one trader could ever need.  At the end of the day all indicators are a derivative of price and volume, so why get so fancy?  After many years of trying to find the “perfect indicator” I ended up with price, volume, S/R levels, the occasional trendline, and a couple of key moving averages.

95% of that other stuff is masturbatory narcissism by pseudo-quants who have to justify their own existence.  Unless you are on the Goldman Sachs trading floor or running your own hedge fund, keep it simple.

Work on specialization

I thought when I started trading that I had to be able to trade EVERYTHING.  That to me was the definition of a trader.   Some people can trade cotton futures, iron condors, and the dollar/yen cross.  I can’t, and it took me a long while to figure that out and shake off my self-imposed dogma.

Get good at one asset class, one instrument, or one issue, and once you master it (read: make money consistently), then incorporate something new into your repertoire.  Or don’t.   I know people who only trade $AAPL and make a good living doing it.

It’s okay to ask for help

At first glance trading seems like an activity for loners.  For people who want to sit in a room and stare at charts for hours on end.  And to be fair, there are quite a few of us out there that wouldn’t look too out-of-place on the front of one of those most wanted posters you see at your local post office.  But if you scratch the serial killer surface of most traders you will find someone who not only is willing to talk trading, but actually craves it.

For eight years after I took my first trade I didn’t talk to anyone else about what I was doing.  It was only when I stumbled across the Money Talk BB on the Prodigy network back in the early 90’s that I began to interact with others who were doing was I was doing.  And even then I was timid about asking for help.

Everyone knows that there is no “Holy Grail” trait when it comes to success in the markets, but I believe the thing that comes closest is the ability of a trader to have an open and honest exchange of ideas with other traders.  The more you do it the more you build your trading knowledge and the more you define yourself as a trader in your own right.

Learn to Ignore the narrative

I recently watched a presentation that Barry Ritholtz did at his “Big Picture” conference.  Besides the fact that he was saying how he felt that George W. Bush was the greatest President of the last century, the other thing that I found fascinating was his discussion about how human beings as a species need a narrative.  It’s part of our evolutionary DNA and the way before technology that we carried forth ideas, knowledge, and traditions from generation to generation.

The same phenomenon happens with market participants; they love to attach a story to a stock, using it as the justification for why it moved up or down, or didn’t move up or down.  This tendency will only cause you to lose money as a trader, and the faster you learn to ignore the narrative the better off you will be.

It’s not all or nothing

I have been all through the Trading Bible, and nowhere in it does it say that you have to put all your money to work in a position at one time.  Nor do you have to take your money out all at once.  Scaling in allows you to test the waters on your entry and add to your position only when a move goes in your direction.  Scaling out may even be more important as it allows you to lock in profits on positions which enables you to give them more room and be able to stay in for a greater move.

You will be wrong, a lot

Ted Williams was one of the greatest sluggers in the history of baseball, but he couldn’t get a hit 60% of the time he was at bat.  The hardest thing for most traders to get through their thick skulls is that being wrong most of the time is part of the game.

You will be wrong.  You will be wrong a lot.  A whole lot.  Embrace it. Learn to accept it.  As long as you cut your losses quick and maintain good risk/reward ratios on your setups you will make money over time.

It’s all about the Benjamins

This one may seem obvious but when I first started trading I was more interested in showing how smart I was by doing something most people didn’t understand.  I spent a lot of time telling non-traders about the markets and making myself feel important.

I bought books, software, and attended seminars because I thought it was cool to be a trader.  But all the while I was losing money in the markets.

Ask yourself this question, and be honest.  What’s more important to you, having everyone you know idolize you because you’re “trader”, but lose money, or have everyone think that you are just some schlub who works in an ice cream store,  while in fact you are really making a fortune in the markets?

Trading is ONLY about making money.  If you can’t do it on a regular basis you are not a trader.  Everything else is just conversation.

You won’t find answers in books

Books on trading, with rare exceptions, are for entertainment purposes only.  It does no good for you to read about how someone else trades because you will never be able to trade the way they do.  In addition, any ideas, concepts, or techniques that are taught in books are usually outdated by the time they are published because the markets are dynamic.  They are constantly changing, and like a flowing river, you can never step into the same one twice.

I can say for certain that my trading progress took a massive leap forward the day I stopped going to my local bookseller looking for answers on how to make money in the markets.

In fact there is only one book on trading that I know of that has solved the problem of keeping its content fresh and up to date.  It also happens to be free and you can pick it up here.

The reality is, you just don’t exist

Everyone has an ego.  We all suffer to an extent from illusions of self-importance. Problem is, the markets don’t just consider us unimportant, they don’t even acknowledge our existence. Nothing about our lives or what happens in them means anything to the markets.

Good person or bad.  Flush with cash or scraping by just trying to make your rent. Tall, short, pretty, ugly, it doesn’t matter one bit.

Did you stay out too late drinking with your buddies last night?  Is your mother dying of cancer?  Did your wife yell out “give it to me good Juan the pool-boy” the last time you made love to her?  All of that is as irrelevant to the markets as you are.  And if any of those things affect the way in which you approach your trading, the market will run you over like a freight train.

Everything you know about life is counter intuitive to the markets

From the time you are first able to comprehend “value” you are taught that cheaper is better.  If you want to buy a new refrigerator you wait for it to go on sale.  Then you try for a discount because they have discontinued that model.  And you get them to knock even more off because it is a floor model.  You want to pay the least you can because it is a wasting asset.

In the markets that is exactly the wrong thing to do.  A share of stock, option contract, or basket of currency is only worth what the next person will pay for it.  You buy strength and sell weakness.  You never average down and you pyramid up.  All-time highs are to be bought and all-time lows sold.  You sell good news and buy bad.

You have to understand that when you set foot into the world of the markets that the normative rules of value and worth, as well as your inbred ideas of consumer psychology no longer apply.

Hopefully these concepts will be helpful to you in your quest to be a successful trader.  Let me know which ones resonate with you and feel free to send me the things you wish you knew when you started trading.

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

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Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

Your 15 Trade Ideas For The Week Of 3-11-13

The markets are tough right now.  Sounds crazy right, as they have been going up, up, and uh….oh yeah UP!  But think about it, if you are trying to short you have been getting your head handed to you, and unless you have open positions that you have been riding, the markets are pretty extended and it is hard to initiate new longs here. And this weeks scan of the charts reflects this conflict.

Most charts are extended or broken, with a definite lack of good set ups (i.e. bases, clear breakout or pullback points, etc.) and top-tier companies to consider.  In fact many of the charts this week are more macro in character.

But no matter how much the markets are due for a real correction, you have to follow the charts and trade what you see.  I however would be keeping my stops a bit tight on anything new you initiate at this time.  Okay, here we go….

Were you look up “dog” in the dictionary there is a chart of $ZNGA.  That being said, the stock has recently broken above a gap resistance and the 200ma where it is consolidating now.  A break above $3.75 could get you to $4.90 at the gap fill.

I see dead people.  Well not really, but $SCI is the largest cemetery conglomerate in the world.  The stock is a slow mover but in a good uptrend and basing at 12-year highs.

If $PRU could get some sideways work in the area indicated by the oval, I would like this on a break over resistance of the $60.00 level.

Don’t know what they do, but $PLL is holding strong basing at all-time highs here.

Another one at all-time highs.  $NBL is coming out of a bull flag pattern and you could use Friday’s green hammer as your risk/reward to get long.

What I like about $MON is how it barely budged in the recent mini-correction compared to industry related stocks like $MOS, $POT, and $AGU.  That is good relative strength and as long as the whole sector doesn’t fall apart, it should be the leader in the next move up.

Tough, tough stock to own/trade in the short-term, but in the longer term $MA is a star having gone up 150% in two years and basing at all-time highs.  It’s giving you an objective level to get long here, but don’t expect an easy ride.

Nicely riding it’s 50ma higher, $LPX is looking strong at 6-year highs

$DG looks like it is coming out of an 8-month donwtrend here, but was stopped by the 200ma.  If it can consolidate in the box indicated, that would set up a nice move back over the 200ma with a buy above the pivot of $49.20 give or take.

Out in SoCal they are putting these up on every street corner which is maybe why the stock is at an all-time high.  None the less, $CVS is basing nicely here.

We are about to finally get into the “post-Aubrey” era with $CHK which may change the character of this stock.  Some basing in the oval area and then a break above $21.70 would get me interested.

One of those macro moves I was talking about.  $BWA has just completed a huge “W” pattern which often indicates higher prices to come.  Some sideways work in the oval area would set up a good risk/reward to get long.

Another macro stock.  $BRCM has been in a progressively narrowing range for the last year, and pretty soon it may emerge to the upside.  A measure move would take it to the $45.00 area, although it would be a long and slow move.

Choppy and gappy, but something about the $BCOR chart intrigues me.  Some consolidation in the indicated oval would set up a good risk/reward entry.

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

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Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

Best Of The StockTwits Network 3-10-13

Let’s be honest, you could pretty much throw a dart any day of the week at the StockTwits Blog Network, and end up hitting a post that is better than 99% of the other stuff out there that passes as financial blogging.  So to say these are “The Best of….” is a little disingenuous; let’s just say these are some of the posts from the last week that caught my attention and I think will interest you.

I started a new long position in Apple 1nvestor

Leverage kills: the Apple edition Abnormal Returns

Thoughts On Risk All Star Charts

Innocent Until Proven Guilty Alphatrends

Live Your Life As If Everyone Else Was Going to Die Today Altucher Confidential

The Bull Market Turns Four Crossing Wall Street

Following the Lead of Martin Zweig Derek Hernquist

SPY Trends and Influencers March 9, 2013 Dragonfly Capital

Marketview: Slow Motion March Dynamic Hedge

The Messy Entrepreneur and Building a Community on The Social Web Howard Lindzon

VIDEO: Stocks on my Watch List Joe Fahmy

Greed + Confirmation Bias = Disaster Kid Dynamite’s World

Why Are Most People Terrible Investors? Phil Pearlman

America is Exceptional Points and Figures

Third Prize Is You’re Fired – a word on the hard sell The Basis Point

The Impossible Rally Turns Four The Reformed Broker

Has the Great Rotation Already Started? The Armo Trader

It’s A Bubble Wrapped Market, But That’s OK Upside Trader

The View; Above The Bollinger Bands ZorTrades

Cheap Smartphones are Driving Huge Chinese Sales AlphaVN

The Russian Smoking Ban: Will It Snuff Out Big Tobacco Profits? Sizemore Insights

It’s Really Not That Hard Rogue Traderette

Is March Bullish For Financials? Here’s The Average Historical Performance Seasonal Odds

And what you may have missed this week on bclund.com

I Know Nothing About The Markets….Or Elvis  bclund

Make sure to check out my free eBook Trading:The Best Of The Best-Top Trading Tips For Our Times  (just click the banner below).

TBoBbanner

Why not subscribe to bclund.com for free  Via E-mail or Via RSS and follow me on StockTwits and Twitter?

What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in). Check out “The Best Of bclund” to get started.

Click here to “Like” the bclund Facebook page.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.