Friday, September 18, 2009

Stock Market Video - Weekend Market Summary - 9/19/09

Hi, traders. The weekend video is listed in this post below and can be downloaded directly by clicking on the link which will save it to your computer. This will be the last free video I will be making, as I am going to make a slight change to the website.

I have been running this website for almost two years now and have been very happy with the growth of the site. I really didn't know what to expect when I started this - if I would get readers, what direction would I take the site, etc. - but now to have over 1,000 followers on Twitter and almost 900 Feedburner subscribers, along with the growth in the number of hits per month, I am quite happy. So far, everything on the website has been completely free - the videos, the charts, the commentary - and I have always intended to keep most of the site free. To be honest, I think I have put quite a bit of very useful and informative work out there for readers to hopefully enjoy and profit from over the past two years. However, for the amount of time I put into the videos published on the website, I am going to make a small change to that service that will allow me to be compensated slightly for my work there. I hope you understand.

Some readers have asked me before about starting a full-time paid service and my answer to that has always been, "well, with two young kids and a full-time job, I can't lock myself into that type of time commitment," and that is very true. My family is most important and I never want to have something else monopolize my time over them. I also have personally always questioned the necessity of subscribing to a service that charges a monthly fee, many of which are quite expensive. When I am fully invested, what good does a subscription service do me? In addition, when the market is in a position where I know there aren't too many trades to be made, what good does a subscription service do me? This is not to say that all subscription services are bad - there are many great traders that run great services out there. But for me, it never fit with my style - I would feel guilty about having people pay me to tell them to sit on their hands and do nothing, which really is the best advice many times in the stock market.

So, what I've decided to do is charge a small fee ($3) from now on for any video I put out on the website. I do believe that the videos contain a wealth of information that not only help traders prepare themselves a game plan for the market every few days, but also allow them to learn technical analysis and how to read charts as they go. I think $3 is more than reasonable for the information you get in the videos, including the individual setups on both sides of the market. Since I am charging this small fee, I plan on making the videos a little longer than they may be right now and will try to include specific buy levels and sell levels on the setups I include. You will likely notice the change in the sample video below.

The reason I chose to progress in this manner is that it also allows me flexibility in my writing and workload. I will likely do two to three videos per week, but if I have other commitments, I will do less. If the market is dead and I don't see many opportunities to make money, then I will just tell you that straight out and avoid the video all together. I believe this also allows the reader flexibility as well. Perhaps you are going on vacation for a few weeks and won't be trading. Well, that's fine - you won't be paying for anything you won't use. Maybe you are already as fully invested as you want to be - well, that's fine as well. Maybe you just need a few weeks away from the market (always a good idea from time to time). When you are ready to trade again, the videos will be there for you. Maybe you are having trouble finding some setups and want to get a few ideas. The videos will be there for you.

Basically, I look at these videos as trading tools for use as you like. I will share the setups and stocks to watch that I find in my scans with you, stocks like ...
and you can take it from there. Not all the stocks I show are winners, of course, but my hope is that you will find them beneficial enough money-wise and education-wise to continue to purchase videos. However, it will be completely up to you - you will be in control.

There will be no change in the rest of my website - I will still do the "State of the Market" reports with my thoughts daily along with random posts on trading topics from time to time and those will remain completely free, although I will not be sharing my watchlists in those commentaries as I do now. Occasionally, as well, I will share some videos for free. In addition, you are always welcome to email me or leave comments regarding stocks shown in the video and I will do my best to answer your questions.

I hope you understand and accept the change - I am not attempting to make a fortune on this website and all of my writings will remain completely free, but I think being compensated slightly for the amount of information shared and time spent in the videos is fair. You can check out the video below and then look for the change sometime during the upcoming week. Thanks and best of luck next week.

Weekend Market Summary Video - 9/19/09 - mp4

Weekend Market Summary Video - 9/19/09 - Flash

(You may need Adobe Flash Player or Quicktime to watch the video)


3 comments:

Eric said...

I think this is a good move for everybody. Paying for the videos will make me more motivated to watch them carefully and follow them better, and being paid for them will help you be compensated for the time invested. Everybody wins!

CW, Portland Or said...

Laughable...good luck, but if I had been following your negative nature for the last several months I would have missed a great run up. I enjoy reading your perspective but prove yourself by posting trades with entry points and posting the results on a consistent basis. My opinion, but you have been on the wrong side of this market for some time....show us a track record. Hate to bash but maybe you should trade your portfolio and get off twitter.....

Mac said...

Thanks CW for your thoughts. If you have read my commentary for the past year and a half, you would know that I have posted every single trade I have made, the good ones and the bad ones. This year, there have unfortunately for me been many more bad ones than good ones, but they've all been posted. I have not had the same success that I had last year, but for you to say "show us a track record" is ridiculous if you just read what I write each day.

There have definitely been times this year where I have been on the wrong side of the market, and I have admitted that. I don't think I try to hide anything. At the same time, I have put out some good setups in the videos I make and have had positions in some of them very recently. Once again, I post every trade I make. I wrote about CVGI last week and was completely honest that I was stopped out of it too early, even though I had a great entry. So what exactly am I "hiding" that you seem to insinuate?

Every trader goes through rough patches (except perhaps you) and I have also been completely up front with mine this year, having talked about the psychological side of trading and my rough experiences this year several times this year. I have never claimed to be perfect and will never be. But I am honest with my mistakes and will continue to be.

If you don't like the commentary or the videos, you are more than welcome to stop reading. From your comment, why would you even worry about the videos not being free anymore? They aren't beneficial to you anyway.