I wanted to share with you a quote from Jesse Livermore, which says “there is only one side of the market and it is not the bull side or the bear side, but the right side”.
Never Confuse the Bottom of the Page With Support
I recently commented that bond prices had completed a bullish continuation pattern, suggesting further upside for prices, and therefore, a further downside for interest rates. I received some pushback suggesting that interest rates were at all-lows. How could I possibly see further upside for bond prices?
When to Check Your Portfolio
When you check your portfolio to discover that your holdings are going down, or already in the red, how does that make you feel, physically? Likely, it is a slightly painful feeling and you get sweaty palms, feel lightheaded, get a weird feeling in the pit of your stomach, or maybe you feel pessimistic (or optimistic)?
Asking Questions
The Adjustment Period
This week I’m in Orlando, Florida, getting ready to speak on Saturday at The Money Show. On Thursday, Friday, and Saturday I will also have the opportunity to interview various strategists and experts for StockChartsTV.
Finding Inspiration
This past weekend my family celebrated our 100th geocache! If you’re not familiar with geocaching, it’s essentially a real-world scavenger hunt that is web-based. Using an app on your phone that works via GPS, you can go on a scavenger hunt from literally anywhere you are in the world. My family has done this on our travels across the country and as well around the world. My wife and I have done it together but it is also something we really enjoy doing as a family with our 12 and 3-year-old children, as well as our family dog. We follow the directions (via the app) on our phone to find cool and unique treasures.
Building Self Awareness
Last week I was interviewed on a podcast called AlphaMind and we had an interesting discussion about market analysis, technical analysis, behavioral finance, and a lot about the mental game of trading and your mental state. This includes how you approach things, your routines and how you set yourself up for success mentally when you’re getting ready for the trading day.
Making Time
Aligning Your Mission, Goals & Priorities
Just coming out of my power week this first week of January, which is something I do at the end of every year. During that week I take a step back and reflect on where I came from, any progress I have made, where I am currently, and where I would like to go. That one-week allows me to really chart a good course for the next 12 months.
The Power of a Power Week
Every year between Christmas and New Year’s I schedule a Power Week. I first heard of this idea from Charles Kirk of The Kirk Report who talked about his year-end planning session. As with many other personal development projects, I used that as an inspiration and made it my own over many years of trial and error.