Emini Trading Update – Friday 28 Oct 2011 (13:16)
Finally, my Internet connection got fixed – yay! Very stressful last couple of days and it got in the way of trading. Anyway, managed to finish my week strong. I’ve put up day trades from Thursday and Friday, both “one shot one kills”.
On Saturday I’ll do a multi-market review – interest rates (and Bonds) are looking very interesting. Is the debt focus starting to switch from Europe to US?
Link of the day …
Thank you, thank you Tyler D. at Zerohedge for an entire hour of Hugh Hendry. A maverick genius and I love his stuff.
Around the 3 minute mark in the part 1 video Hugh Hendry talks about debt cycles – 40 years up and 40 years down:
“Less widely understood is that there was a revulsion of debt and leverage within society (after the stock market crash of ’29) and that changes very slowly and I would argue that it was finally eradicated from society in 1973-74, so 40 years later it was finally gone and then we moved on to another cycle of taking on debt.”
Where it has paid to be optimistic. And a classic quote at the end of the part 4 video:
“Procrastination kills you in a business that is determined by risk.”
So be quick to take profits and quick to reverse.
Quote of the day …
Always fantastic to hear of traders making it. From David D.
“I’d like to thank you again for your wonderful indicators. Now that I’ve learned some easy language basics, I can really appreciate how much you’ve done! But besides that, your indicators make it much more interesting to trade and I’m happy to report that I’m now consistently profitable and very much enjoying the independent life that this game can bring.”
Good luck with your Emini trading.