Quote of the Day
- September 2nd, 2010
- By Doug McKay
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Every man dies. Not every man really lives.
- William Wallace
Protected: Managed Accounts Weekly Roundup for 9/2/2010
- September 2nd, 2010
- By Doug McKay
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INDU
- September 1st, 2010
- By Doug McKay
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The indices are still range bound after an anticipated bounce off a crushing August. In other words it’s to early to tell if this is more than just an exciting bounce for the bulls.
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Stocks & Bonds
- August 31st, 2010
- By Doug McKay
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As always we trade what we see (discipline) and not what we think (guessing). In other words when the market either breaks down or breaks out of this base we’ll go with it.
It remains a coin flip as of today’s close.
Bears
Technically the SPX has yet to break the neckline and confirm a high probability bearish follow through. However the bond traders are the smart money and they are signaling lower interest rates and lower equities. I viewed a chart last night of the Nikkei at its peak compared to the SPX at its peak. Amazing how similar since. This would mean equities would go much lower. But that’s not a fair comparison. Not so sure about that.
Bulls
The other side of the coin is that I haven’t seen this much pessimism since early ‘09. This tells me we have to be just as ready to push the buy button as the sell because as we know the crowd is typically late. Plus we just had the worst August since 2001.
What I Think
The market is not going to wait until November. I think it will run and run hard. 1500 points on the Dow is not out of the question. I just don’t have any idea in which direction – yet. Friday could give us more clarity.
Enjoy the balance of your week.
- Doug
About Doug McKay –
Hello fellow traders and investors,
My name is Doug McKay, and I am a trader, money manager and the founder of AntiWallStreetGuy.com, 4 Minute Trader and Pro Investor Coach, LLC.
As the Anti Wall Street Guy, I look at the markets with a fresh perspective. This means no "buy & hold forever" mentality, no piling money into mutual funds, and especially no herd mentality.
My buying and selling technique centers around using stops to protect profits and limit loss.
The goal of this blog is to educate you in technical analysis and the emotional aspects of managing your own money so you can realize more success in your trading and investing.
My methods are not the traditional advice you hear repeated and repackaged over and over again, but that’s exactly the point and the reason why I know how to advance and succeed in every kind of market.
To your success,
- Doug
My name is Doug McKay, and I am a trader, money manager and the founder of AntiWallStreetGuy.com, 4 Minute Trader and Pro Investor Coach, LLC.
As the Anti Wall Street Guy, I look at the markets with a fresh perspective. This means no "buy & hold forever" mentality, no piling money into mutual funds, and especially no herd mentality.
My buying and selling technique centers around using stops to protect profits and limit loss.
The goal of this blog is to educate you in technical analysis and the emotional aspects of managing your own money so you can realize more success in your trading and investing.
My methods are not the traditional advice you hear repeated and repackaged over and over again, but that’s exactly the point and the reason why I know how to advance and succeed in every kind of market.
To your success,
- Doug
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