Trading for the Masses

That market is a cause to celebrate, volatility rules and as traders we love the volatility dance. So walk it out have a great weekend, and watch and listen to this video mashup . .When you need to cut footloose, do a little dancing it always helps the soul. I just learned that my friends’ brother is the moondancer extraordinaire in the classic 80’s dance fete, Footloose. So I guess, I am now 2 or is it 3 degrees of separation from Mr. Bacon.

Everybody Cut, Everybody Cut FOOTLOOSE. Funny stuff.

We said this am, that we would sell 1314 and we got it off and are now covering half here for 10 pts or so 1304/02. We will move stops on the rest here as we are sliding down. We resold oil @105.6 area and will sell up to the highs of 107 for the time being, call us crazy, but the momentum feels tired to this trader. Time will tell again, But you have to trade this market.

Hug it out baby, the market is hardly all that matters!!

Folks the recession has been full on in parts of this country, ie the rust belt for some time. Buffett confirming it this week, and Bernake and politicians are even starting to pick up on the darn bloody obvious. They can’t stop it. Market forces always bigger and badder than hope as a strategy. Speaking of hope, does your porfolio manager play the relative performance game? Does he/she say “We are 1% better than the spx which is down 17%!!!” If that is the speak you hear in a bear market you must ask yourself, Why am I am paying for relative performance when I can buy the SPY or a group of 8 ETF’s myself and get the same relative performance. Folks if you are paying a manager, he better be compensated only for ABSOLUTE performance. No reason to pay a manager for a negative performance that you could get on your own, by simple indexing. No performance, no pay is my mantra. Change the system, don’t get gamed by the Bull crap relative performance money managers spin. Ask them, why you should pay if you are negative with my portfolio? I don’t think you should pay your manager unless you get a positive performance. That’s why hedge funds work because they are pure pay for performance.