Wednesday, November 24, 2010

Kudo's to some Blogging Greats

Some of the earliest bloggers I read, Bill Cara and Tim Knight

Bill has some wisdom of being on the inside for decades.  "We are traders of prices, the rest is probably meant to deceive" is my summary.    As as Bill says below "they are talking their book", that is the polite way of saying they are lying in an effort to steal from you.

Re: South Korea new

Thank you. Now the other story that is negatively impacting markets today, adding to the "wall of worry", is the latest talk about possible European sovereign debt failures. What we need to prove or disprove this "story" is to simply track the big banks in Europe and UK as they are the ones holding the majority of the sovereign debt.
The point is that, while important, these issues are more important to some people than others. In our case we are trading prices and so we need to be aware of their impact, but we should never be moved to buy/sell decisions on the basis of perspectives of non-traders and we should be cautious that when traders give their views in mass media they are almost certainly talking their book.
Sgt. Joe Friday's famous line "All we want are the facts, ma'am" comes to mind.

Go visit.   His blog doesn't indent columns or send emails when followup up posts are placed.   For those reasons, I don't spend much time there, at least in commenting.
Tim Knight does some great charts, I think when I first started understanding charts, I was attracted to the simplicity of his charts.   Here he draws some lines that purport to show price direction, but I am not sure what the lines mean.
And this Astro site keeps it simple and in perspective.    They change their opinion when the facts change, unlike Pretcher or Hotchberg.  
I often post their chart without further link to their site, their web address is embedded in every chart.

OK simple review to start your trading day---

  • Get your coffee, 
  • click Hawaii Trading, 

A funny one explaining financial shenanighans--from you tube, worth watching.   It probably won't go mainstream with the reference to pole dancing, however....

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Insightful and Useful Comment!