Required Reading For Today

If you read anything at all today, make sure to check out these 2 articles:

1. ETF Update from A Dash of Insight
2. Goldman Sachs About To Report "Lofty Returns"

The ETF Update is truly a gem...those guys at A Dash are always posting quality material that is well worth the time it takes to read.

Markets are up a little today, although I'm not too comfortable with equities right now. Oil looks like it wants to fall more, the dollar looks like it's about to pick up strength, and I'm seeing a lot of bearish patterns forming in individual stocks and sector efts. All this combined tells me that I need to be careful! It could be the perfect time to buy, or it could be a great time to short. Pivotal situations like this offer up substantial risk and they take away my edge because I need established trends to make money and the trends that are out there right now are rolling over in new directions.

Good luck and make sure to manage risks carefully.

TLT

Four Bibles of the Trading Business According to Paul Tudor Jones

“When I meet someone who is interested in learning the trading business, I always refer them to what I consider to be the four Bibles of the business: Reminiscences of a Stock Operator by Edwin Lefevre, the fictionalized biography of the fabled Jesse Livermore; Technical Analysis of Stock Trends by Mcgee and Edwards, which was written in the first half of the twentieth century and whose tenets still hold today; The Elliott Wave Theorist by Robert Prechter and A.J. Frost, a classic, and finally Market Wizards by Jack Schwager, which is a compilation of interviews with great traders.” Paul Tudor Jones from the forward of The Logical Trader