Wednesday, March 24, 2010

Free Your Mind

"A narrow mind and a fat head invariably come on the same person" - Zig Ziglar

I just wanted to reiterate the gist of what DDT posted last evening about avoiding the pitfalls, and prat falls for that matter, by allowing too much outside information to seep into your gray matter and trying to trade at the same time. You’re only a victim if you let yourself be victimized. For those who are new to TTW: we trade both ways and we trade everything under the sun that isn't nailed down, and I hope you will free your mind and allow yourself to think outside the box as we go along. It is one of the huge positives about this blog, IMO. Although it "felt" sideways today, and as far as the major indices go, it was... there were some great trades both long and short with high percentage gains. But it requires work to hunt them down, and this is why the real work is not done during trading hours, it's done once the market is closed. My old trading mentor used to tell me to arrive at my work station with at least five longs and five shorts for the day, and when I'm truly disciplined to do so, it makes all the difference in the world. Anyway... just something to consider, because we are after all, a team in here, and there isn’t a person amongst us who doesn’t want the other to succeed. Glad to see so many new faces, btw, and hard working contributors at that! :-)

Before we move on to some charts (both traditional and DDTs mah-va-lous DM charts) and the economic calendar, the big earnings tomorrow include BBY and ORCL- both bell weathers to watch. Both might give us an early clue as to whether or not we’re in for another earnings season of sell the news or not.

Jobless Claims
8:30 AM ET

Ben Bernanke Speaks
10:00 AM ET

EIA Natural Gas Report (good luck Mau and Big!)
10:30 AM ET

3-Month Bill Announcement
11:00 AM ET

6-Month Bill Announcement
11:00 AM ET

7-Yr Note Auction
1:00 PM ET

Tim Geithner Speaks
1:30 PM ET

Fed Balance Sheet
4:30 PM ET

Money Supply
4:30 PM ET

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Okay.. you FX traders have some nice trading going on, so have some fun tonight and make us proud! Good trading to you! For you Jay…

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