Strong Convictions, Loosely Held

“Trading is very simple; either you make money or you don’t make money. I wasn’t depending on anyone else. When you work for someone else, if you make money somebody gives you a bonus and if you lose money, somebody else pays your salary. When I was working for myself, it was the ultimate meritocracy, I was worth exactly what I made, no more, no less.” – David Kyte
We are going to have to be patient this week. All the moves are in play so we have no reason to review our thoughts/analysis from the Weely Outlook Video . However, we must remember that in these kinds of scenarios, it is extremely important to find the right balance between being patient and still being unbiased enough to change our views, should key levels break and/or context change.
As followed up on Twitter, don’t forget to keep an eye on Financials. we have been on this for a while and feel that the way this chart is behaving, especially after the hike, is one of the key tells. The first chart is the monthly view we posted at the beginning of the month and the second, the recent action on the 1h.

If you are interested in attending a morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

 

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