I think most traders and investors too, eventually realize that at a minimum, financial news needs to be taken with a grain of salt and more likely just needs to be ignored all together. I've started seeing the bearish headlines and concerning stories pop up but when I pull up my charts, all I see is a nice trend that is taking a much needed breather. Here's the S&P:
I believe Jesse Livermore said something to the effect of he learned to make big money by sitting on his hands..something like that. What he meant was that timing every wiggle of the market is generally a losers game...the big money is finding a trend and then riding it until it's done. As you can see from the chart above, my system says the trend is still up, so I'm staying long with stock..plain and simple.
On a separate note, I stumbled across this blog today http://share-tos.blogspot.com/. It is filled with all sorts of ThinkorSwim codes that the authors share. If you're into tos, it might behoove you to go spend some time at the blog..I know I will.
TLT
I believe Jesse Livermore said something to the effect of he learned to make big money by sitting on his hands..something like that. What he meant was that timing every wiggle of the market is generally a losers game...the big money is finding a trend and then riding it until it's done. As you can see from the chart above, my system says the trend is still up, so I'm staying long with stock..plain and simple.
On a separate note, I stumbled across this blog today http://share-tos.blogspot.com/. It is filled with all sorts of ThinkorSwim codes that the authors share. If you're into tos, it might behoove you to go spend some time at the blog..I know I will.
TLT
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