The Wrap


No video tonight guys, the Sunday video will address the market, if I can get one out on Saturday to address housekeeping issues I will. This is not a “teaching” site, although I cant help but notice some obvious mistakes that are being made by new traders, so I will try and help. Just the cut of my jib and I’m a great guy.

Quick example, and please read the “Joe’s Rules” tab at the top of the blog as Rule #1 addresses the issue I am  talking about. TRY and avoid the market at the open, unless you are a veteran trader, especially in these conditions. You will usually be killed, unless like today, the market is in what they call a “trend down” day and it just goes strait down.

Example, CF short this morning. If the stock gaps down through the trigger, that doesn’t make it is a trigger. It went lower, but under ” normal” conditions, you will get stopped, because after the first 20 minute it will rally back( most of the time).

Example 2…some of you shorted MOS on the gap lower and saw it go back up. I issued the short later in the day at or near the trigger. Will I be right? Maybe, maybe not, but I am trying to compel you to use discipline. If you want to subscribe and go wing it that’s fine, but I really want you guys to make money and do it the right way. Very few folks can make money consistently in the market, I do, so try and use discipline. No harm done, I really am just trying to help.

There are many bonehead bloggers that pontificate, bloviate and show really neat videos, but are clueless with helping you make money consistently. I’m not a blogger , but  a trader that just happens to blog.

No names tonight but please see the updated P&L on the tab on the Premium site.

When this market rallies it will blow our eyelids off, we will play it big time. Rest well.


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