whatever they do wherever they are, but none with money seems to be around on these last few trading days of nothing less than spectacular 2009 (forget “why,who,what” – from purely trading perspective that was a blast or bust depending if you got it right or wrong.) Yesterday was the lowest volume of the year for (SPY), but who really cares for now – the only thing that does matter is that $SPX is UP over 25% year to date and if you lost money this year – you may thank people like Roubini, Nasser, Kass, Knight, Prechter, Denninger and a lot of other one track minded people who really like to think of themselves as very very market smart, but the truth is: Market has nothing to do with logic, personal biased opinions and anyone wearing colored glasses will lose all the money they made once in 10 years when “they” happened to be temporary right. Even people like Yamada who I deeply respect were wrong quite often this year, BUT – she openly stated many times that this is one of the most difficult years on her memory and when saying that she did not have that idiotic “I am the God” Prechter’s grin on her face.
The only way to survive and prosper in any market is to develop your own methodology, turn off outside noise with expert assholes telling you what you have to think and do, having strict risk control and HARD DAILY WORK. There is no substitute for that recipe and if you are still searching for Hole Grail (no matter how expressed) you are, most likely, already lost all your money.
Hope a lot of people reading this blog have listened to me preaching: “Wave B up monthly will satisfy minimum requirements in November, BUT TDSetup Sell 9 monthly will possibly complete not before January 2010” (I was fighting the system I use for ages last few months – that was really wild ride on the upside, shame on me…)
Take it slow, enjoy the rest of the year – I will…
