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Just a few totally random thoughts………..

  • Vision: I saw this comment (one of the few I glanced at…..) earlier today, with respect to the fact that the bears could do no wrong in 2008 and the bulls could do no wrong in 2009: "Trading is about getting on the right side of market order flow. If you get on the wrong side of the order flow you get run over…plain and simple." I agree with that, but the problem is that this kind of hindsight declaration is useless. Anyone on the planet can look backwards and say what should have been done. It's only those bold enough to take a position (more than a few minutes forward-looking…….) and either be shamed by its failure or bask in the glow of being right that are worth a damn.
  • Proof? The following question occurred to me this weekend as I continue to ponder if Elliott Wave is worth anything – – where is Prechter's fund? In other words, if the method has value, it would lead one to assume that the de facto leader and expert of the same method would be running a wildly successful fund. So where is it? I understand this is a silly question, because those selling educational materials, newsletters, and the like can't be in the business of running money. But it seems incongruous to me. After all, if I was the recognized leader in some special trading method that was widely followed around the world, shouldn't I likewise be an incredible rich fund manager? Food for thought.
  • Dogmatism – This weekend, having finished Too Big To Fail, I posted my little review of the book. I was kind of taken aback at the reaction, since I didn't declare every single person in the book to be the anti-Christ. Bovine Stew called it my "worst post ever." Look, I think Goldman is probably the most corrupt organization in the U.S. (and ranks on a top ten list in the world), but a few of the people in the book really were trying their damnedest to do what they thought was right for the country. So excuse me for trying to be a little impartial!

Anyway, today's a total yawner, so I thought I'd just throw a few thoughts out there.