Archive for December, 2010

Sheepdogs and wolves

December 31, 2010 Leave a comment

Rudyard Kipling from John Palmer
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Here are some wonderful sentiments about the nature of civilization in a world still populated in places with barbarians

As Kipling said in his poem about

While it’s Tommy this, an’ Tommy that, an’ “Tommy, fall be’ind,”

But it’s “Please to walk in front, sir,” when there’s trouble in the wind,

There’s trouble in the wind, my boys, there’s trouble in the wind,

O it’s “Please to walk in front, sir,” when there’s trouble in the wind.

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Reflective learning in the markets

December 29, 2010 1 comment

daily reports attached and some case studies that continue our development of the WMB entry technique (Williams%R, MACD-H, Breakout on candles)  (Will Make Bank)


Silver rewarded us by holding overnight on a large gap up, and we squeezed another 4-6R out of it, depending on how exits were managed.


We saw the relative strength in the international ETFs like EWZ and ILF, but my over-focus on silver kept me out until late in the intraday move;  EWZ could have been a “whale” of a trade like we experienced earlier in the week a couple times, if i had been more balanced


the attached case studies reflect me trying too hard to be early or being a little late/chasing. I am liking the discipline of this WMB technique to calibrate my timing.


the most important thing for me was the risk management decisions to exit properly and keep losses below 1R, followed up by being able to recognize, acknowledge, accept and release my feelings in the moment and regain my form


i recognize that as a discretionary rules-based trader that my judgments in the moment are a crucial part of my results: both wins and losses, and that documenting and learning from the results are crucial to my continued development.


I believe I have to keep pushing my boundaries, on the margin, in order to keep growing, to keep finding refinements

No, seriously, I mean it

December 23, 2010 2 comments

That Oprah can make the following statement without breaking out in laughter is a tribute to her “seriousness”

Asked whether the thought of Palin’s running for office scares her, Oprah said:

 “It does not scare me because I believe in the intelligence of the American public.”

She says this about an American public that, by and large, watches her and takes her to be a serious person, and to a media that can ask her that as a serious question, and hear the answer without cracking up

Categories: education, politics

Worst of both worlds: unions & government employees

December 22, 2010 1 comment

We need about 10 years of budget gridlock and just continuing resolutions.  This is a start.

According to the White House, the pay freeze will save $2 billion for the remainder of FY 2011, $28 billion over the next five years, and more than $60 billion over the next 10 years. It will apply to all civilian federal employees, including those in various alternative pay plans and those working at the Department of Defense — but not military personnel.

Jackie Simon, Public Policy Director for the American Federation of Government Employees (AFGE) told today, “it was entirely gratuitous by President Obama and Congress. It will have no impact on the deficit if reducing the deficit were an important economic priority right now.”

The National Treasury Employees Union (NTEU) stated today: “During these tough economic times, federal employees are ready to do their part, but cancelling a modest 1.4 percent pay raise this year and a projected 1.1 percent pay raise next year because of deficit concerns rings particularly hollow in light of the recent tax compromise between the administration and congressional Republicans that will give hundreds of billions of dollars to America‘s wealthiest citizens. This pay freeze unfairly singles out hard-working, middle-class federal employees and casts them as scapegoats for the nation’s economic difficulties.”

I am a government employee;  these union spokesmouths need to just shut up.  $60B is $60B and its the least that should be done

No time for truth telling, it’s the story!

December 21, 2010 2 comments

"At his press conference today, Governor ...
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What in the world was haley barbour thinking when he told an interviewer the truth about his life? That’s not the kind of prudent judgment that’s needed in the nation’s highest office.

How many times does he have to be told that you say anything BUT the truth?

He said:

“I just don’t remember it as being that bad,” Barbour had told Ferguson, noting that his hometown, Yazoo City, Miss., wasn’t at the flash point of racial tensions at the time.

Outrageous. Think of all the people who had been prepared to vote for him that are now turned off by those remarks that are so revealing of deep-seated….err…memories.  Has he completely forgotten the importance of making up a narrative that will play well and then stick to it, morphing it as needed?

Don’t bother me with details of how well he has governed, or how he has performed in his adult life for 40 years, rising to the heights of his profession and being known as a thoughtful person.

Federal judge gives Obama opportunity to save face over healthcare

December 14, 2010 4 comments

Official presidential portrait of Barack Obama...
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The federal judge that ruled Obama’s healthcare plan unconstitutional just saved Obama’s political career by giving them an opportunity to fight a glorious, noble and ultimately losing battle. He’ll be able to save face by showing that he gave his everything, but he won’t have to suffer the consequences of actually implementing that horrible legislation

The Obama administration’s requirement that most citizens maintain minimum health coverage as part of a broad overhaul of the industry is unconstitutional, a federal judge ruled, striking down the linchpin of the plan.

Meanwhile, Obama gets the opportunity to further enhance his reputation as a streetwise savvy political insider by promising to take on the Republicans next year after he’s already caved this year on his core principles, whatever those are.

maybe the soon-to-be ex-speaker of the house Pelosi will take the time to explain to Judge Hudson why his ruling cannot be serious. Extra points if she does it by channeling the voice of John McEnroe

I just wish he would use more faux Greek temples to make his announcements. That stuff always struck me as a bit of pseudo-narrative designed to create the impression of the fearless leader, touched by the hands of fate and destiny. It was every bit as real as the buildings and styles of Las Vegas.

Trust the good guys

December 12, 2010 Leave a comment

Google Logo bg:Картинка:Google.png
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I think the author is overreacting, Google only wants what’s best for you

When Google (and Apple for that matter) tell you that they are not evil, what more evidence do you need?