Sunday, June 6, 2010

Stock Market Video - Outlook for the Week Ahead - 6/6/10

Hi, traders.   First off, as a former basketball coach, I had to mention the passing of the coaching legend John Wooden.  When I started coaching, I read many of his books and was surprised to see how much of them dealt not with the game of basketball but the game of life.  He was truly a man of wisdom, faith, and humility.  My local paper linked to this story in the L.A. Times about Wooden, and I thought it wrapped up the man pretty well.   RIP Mr. Wooden.  The world needs more men like you. 

In terms of trading, we just got through another week of intense volatility and crazy trading and in the video I look at the issues we are facing right now.   We did see a follow-through day on Wednesday, but for various reasons (all discussed within), that FTD seems completely dead in the water to me as of now.   Cash remains the best place to be and patience remains key.   With volatility remaining high and news remaining very imprortant (see Friday's action as a prime example), it is difficult to make any moves outside of an intraday time-frame.   Yes, it is boring to do nothing, but trading isn't about the excitement, it's really about doing what's right.   Sometimes it is boring.

To see the video in HD, please click "720p" and "Full Screen" on the video bar - HD will be available after processing.  

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