very good, trust me the best traders keep it simple. The guys at your firm don't give a shit if you had a great thesis if you blow out.
I just finished it. Loved it! That guy in that book reminds me of my self in many ways. Very entertaining read. This book btw is NOT about the fall of Lehman. Just a heads up. Although it ends with the fall of Lehman. The book is about trading! And actually very educational. It gets 5 stars from Mav.
Gold has been struggling all day to get above the monthly A up. Unreal how that level has held the entire session. That level being in the 1788 area.
Did you see this Mav? bullish for oil. http://www.reuters.com/article/2011...-idUSTRE7AA2FH20111111?type=GCA-GreenBusiness
What to watch next week: Coffee. Sitting right at the monthly A up with a plus 12 number line on the month. My monthly A up is 237.50 on the futures. And 59.91 on the ETF ticker JO. Also, regarding these grains. They have very strong number lines as they are trading into their monthly A downs. I think these are a buy if they bounce off those levels. Corn is a plus 5 and Wheat is a plus 4. Crude is a plus 4 and is the strongest of the risk assets.
Yeah, another bull item. It will be interesting to see how crude reacts at 100. Probably will sell off hard on the first touch but if it comes back and goes through, watch out!
Also watch dollar yen next week. Despite the BOJ intervention, the pair is now breaking down again. USD/JPY closed below the monthly A down today and I will be looking for a confirmation next week.
AAPL traded down to 380.26 today before bouncing 4 pts. The monthly A down was 380.35. Nine cents!!! Very low risk entry there for a re-test of the monthly A up at 412.37.