For The Love Of Money

For the love of money we incessantly continue to hang on every word of every talking head who has every incentive to separate us from our money. Their best interest is at the opposite end of the spectrum from ours yet we continue to watch their shows, email them our questions and buy on their recommendations. When was the last time a prime time talking head recommended shorting a stock? I for one can not think of a single solitary time I have ever heard one of these so called " market mavins " recommend a possible short opportunity. It is either a buy or a sell. It is never the other side of the buy recommendation.
We individual investors need to start to take responsibility for our own financial futures. If you feel you need advice please do not resort to turning on " Mad Money " and listening to the drivel that Cramer serves up. He has no interest in your financial well being, his only interest is in his ratings. A subscription to an investment advisory is one of the best alternatives to the individual who wants to participant in the market but lacks the time or inclination to pursue his own path. You ultimately get what you pay for and if you chose "Mad Money" over say Van Tharp's monthly newsletter you will most likely get what you have paid for.

With the above as a guide I am going to start posting my own opinions about the market as well as my trades ( win, lose or draw ) and an explanation for the reason the position was taken and the reason for the exit out of the position. While I claim no expertise in market functions I will let it be known that I have been trading the markets for over 12 years and have developed a certain perspective that has allowed me to be my own observant.

I will also pass along any information I have picked up along the way that has made me a better trader.

The first nugget of wisdom I would like to pass along to you is this and it is pertinent in the current financial climate, and it comes from my Uncle Larry who I believe was one of the people who actually planted the seed that grew into the "Buttonwood Tree" that the first trades were conducted under.

Larry Horton says, " the market will not stop going down until people stop looking for a bottom. when every one has given up and thrown in the towel and has disassociated themselves with anything that remotely resembles a financial stock and wants nothing to do with the markets, that is when the bear is gone and a true bottom has been found ".


More to come..........