Well not really. Janet Yellen is a fine old bird. It’s just that all we care about these days is what the politburo, central planning bureaucrats have to say. It’s sad. We’ve become what we hate. Dare I say it? Communists. Whoops, I just went too far. Sorry, sorry, sorry.
“Hi Barry, I miss the good old days too.
Worst part for me is that I loved strategy games as a kid/teenager (chess, stratego, etc.), and as a result, it’s kind of hard for me to ignore what logically should be happening (e.g. market should go down on bad news, up on good news) and just follow the charts regardless of how illogical they seem to be acting, and as you mentioned, what comes forth from the mouths of Ms. Yellen et al may very well move those markets more strongly than most fundamental news.
I was told as a young chess player that I should ‘play the board, not the person’, but the opposite is true of trading, it’s not the condition of things on the board (news, fundamentals) that counts the most, it’s how the ‘person’ (market participants) are choosing to react to conditions during an auction process, which is very, very different from those old logical strategy games I loved so much.
So in trading, it’s better to play the person (market participants) not the board (conditions).”
Let’s talk about how to fix those Bond Market charts. BlackRock made some changes and as a result my Bond Market charts stopped working. Well it’s an easy fix, just watch the video for how.
Turns out I was not subscribed to real-time data for SPY (but was for TLT via real-time NASDAQ data). As soon as I switched on real-time data by subscribing to the Amex Exchange (not intuitive, since SPY trades on NYSE Arca) my Bond Market charts started working again. Yes, it costs me an extra $1 per month – but a better solution than using TLO.
Many thanks for Sal P. for this suggestion.
Good luck with your Emini trading.