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    Thursday, November 6, 2008

    Thursday thoughts:

    The Bank of England just made a "surprise" move, and lowered rates by 1.5%, a full point more than expected. As the central banks desperately try to reflate, in the face of market forces, I remain flexible to trade either side. Traders married to just one side cannot know whether the light at the end of the tunnel is enlightenment (profits), or a freight train to wreckage. I clearly define my time frames for each of several setups, allowing me to disregard the news, as far as trading is concerned. I am not sure if I will be short or long stocks, but I am confident I'll get an acceptable risk/reward setup, and I'll share the trades with readers. My goal is not to have you focus on my trades, so much as to focus on my process, so that you can become a consistently profitable trader. Too much emphasis is put on the "signal" in the blogging world, when the "secret" lies in the execution.

    A side note about Cramer the Clown. It's come to my attention that he has a solution to the housing problem. He might advocate the demolition of all the excess inventory, thus "saving" the value of remaining homes. As asinine as this sounds, our great president FDR (Franklin Delano Romanowsi) actually tried something similar to bailout farmers via the Agricultural Adjustment Act, which failed miserably. As long as we're considering stupid "solutions", why not just let the poor middle class occupy the homes, thus reducing their expenses? Of course, home prices will plummet, but that is going to happen anyway. And if we just focus on keeping home prices high, the social and economic repercussions in other areas will negate any "gains".

    At least this boneheaded option would promote class equality, which seems to be what this country desires, and therefor could be justified. Of course neither will work, and Americans need to recognize that truly free markets are the only thing that can solve our crises, and that means pain will be felt by somebody sooner or later. Why not make the pain be felt by those that deserve it most, the lenders and the liars?

    Links I liked:

    -The Bank of Japan is "helpless".

    4 Comments:

    Blogger Steve said...

    Wow, a genuine free market trader in the blogging world! A breadth of fresh air. Love your blog and enjoy your commentary on Slope of hope.

    November 6, 2008 11:17 AM  
    Blogger itrade4real said...

    Yep Steve, and we can rest easy knowing that the traders that make money consistently are in the minority, just like free marketer these days!

    November 6, 2008 11:23 AM  
    Blogger victim of Momnesia said...

    I like your blog. Will continue to check it out.

    November 9, 2008 1:48 AM  
    Blogger itrade4real said...

    Thanks for stopping by.

    -J

    November 9, 2008 2:47 PM  

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