scratch-mark

Always Fade The New York Times

Carl Futia is a really, really good swing trader and is one the the very few people I pay any attention to. Well over 99% of market commentary out there -- particularly for short-term or "swing trading" -- is worse than worthless. Worthless would mean that heeding their "predictions" costs you nothing and makes you nothing. But you'll find that listening to anyone else as a substitute for developing your own independent judgment will almost always cost you money. And if you're in vehicles like I trade, i.e., selling options where your potential loss is 5 to 10 times your max profit, you're gonna get killed (yes; selling short; but both ways, i.e., calls and puts; yes, you can go short options as long plays on the market). I particularly like Carl's posts where The New York Times is used as a contrary indicator (not to trade by, but to judge market sentiment). Here's another good one: Jay Leno is an even better indicator. And another: the NYT and The Economist; recent track record. Dismal; and people actually pay them money for this garbage. This is why I almost never turn on CNBC. I've found through painful experience that the...

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Richard Nikoley

I'm Richard Nikoley. Free The Animal began in 2003 and as of 2022, contains over 5,000 posts. I blog what I wish...from health, diet, and food to travel and lifestyle; to politics, social antagonism, expat-living location and time independent—while you sleep—income. I celebrate the audacity and hubris to live by your own exclusive authority and take your own chances. Read More
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