Signing up for Webinar

Click here to sign up for the webinar on January 16,2010

Another interview

This applying for jobs stuff is for the birds. For the second time since Pink Slip Paradise began in June, I have been called to interview for a job in which I never applied. So, now I'm 0-for-2,153,048 on applications, yet 2-for-2 on out-of-the-blue interviews. Strange.

This time, it's with a little weekly newspaper based in northern Allegheny County, but under the Trib Total Media umbrella. The editors at the Trib sent my name to this newspaper editors when they inquired about possible reporters. The interview is Thursday morning at the old Clark Building on the North Shore, so I'll get to take a nice day-trip downtown. I figure I'll also be able to drop by the Tribune-Review newsroom and introduce myself to the Trib editor for whom I've been freelancing.

Should be fun times.

Webinar Only 10 Days Away

I am working on the webinar material today so nothing new. There were a couple of good trades as well as a losing trade in the ET.

There are currently over 150 people signed up for the webinar so Kiki and I are looking forward to meeting you all. I have over 30 slides prepared so far, but most of them only highlight topics and sub-topics that I will illustrate right from the MarketDelta software. We will be going over the process from newbie to consistently profitable so hopefully there will be useful material for everyone, no matter where you are in your journey.

I hope to post the webinar agenda next Sunday.

I am a bit behind in replying to the comments and emails but will try and start catching up tomorrow. I try and answer all mails and respond to comments within a day but the webinar prep is taking quite a bit of time.

Better Never than Late?

I have always said that it is better to be aggressive and early in your entries than to be late. Today's trade is a perfect example of this.

For one reason or another we were late starting this first trading day of 2010. Maybe it was the after holiday re-entry problem. Any way, we missed the entry on the ES at 1116.25. We then had to find a secondary entry point and it was at 1118.50 with our stop at 1116.50. We then had to sit for over 4 hours lethargically watching the market consolidate until the coil sprung at around the RTH opening. The risk here was that "they" went to try and fill the gap between the RTH open and the last close at around 1113.50. Luckily it didn't eventuate and the market motored to the swing high at around 1126.00 where it again consolidated, looking to go to around 1129.00. We scaled at 1120.50, then at 1125.50 and held the last 1/3 until 1129.00. 

It was quite painful sitting for 4 hours plus with the price against us. We had a couple of opportunities to scratch the trade, but it never entered our minds as the order flow was always positive, even though the momentum wasn't. Had we made the correct entry at 1116.25, we would have saved ourselves a lot of pain as the market never gave any heat to an entry at that price.

Again, it's Location, Location, Location. We ended with a 10 Point Buck. A good start to the year. 

 

Click chart to enlarge

Notional Next Rocket...

Its still going to be six months or more before I can really start working on this, but its my next notional rocket. It uses the motor valves and actuators from the Silver vehicle in a more aerodynamic shape. The Green tanks are Wellmate WM12 tanks with the air bladders removed, and the blue tank is the WM-6 that was the fuel tank on the silver. With a 16" diameter and 380 liters of light weight 500 PSI tankage it should go to 100K ft +. Its basically 20 ft tall.
The tanks would be joined together with carbon fiber barrels bonded to the tanks.

Bucket List Item....

I've always wanted to watch a shuttle launch.
I saw the very first shuttle land at Edwards, but I've never seen an orbital launch of any kind.

After a little contact fishing I just received a VIP invite to watch STS-130. Thank you Will and Andrew!
This is a night launch so it should be spectacular.

The Times they are a Changing...... Again!

Bob Dylan said it all. I have been reviewing the ES during the period of  December 15 to December 31 and saw lots of good if not great trades.

Thursday's trade is an example. In fact, it was one I could not resist.

The trade was a great setup. We saw a new high in the ES, the 45 CCI came down below +100, VB went SELL, price first bounced off Wednesday's VAH and then penetrated it giving a great trade. The so called MP 80% rule, modified a bit to fit what I do, was perfect. As you can see, I did not scale out at the usual 2 handles as I wanted to do the first scale at the VAL. In fact, I took all of it off there which in hind sight was early but this was New Year's eve and gift horses came to mind. On other days I would have only taken the first scale as the CVD was heading south quite clearly after a new high.

Looks like the Xmas/New Year trading is getting better. Maybe the 2010 holidays will be worth watching.

And here comes 2010, a number divisible by 3 - my kinda year.