Recap of Last Night’s Show

First of all, today is a “no follow-through” day. Highly cautious with intra-day trading.There will be many days like this, as it is typical from after Thanksgiving till after Christmas. I, myself, have winded down my own operations since I don’t see the point of messing up my best year ever. I continue to trade my own accounts, as always.

The SPX remains within a neutral range. It is neutral. That is it. The RUT remains as the weakest of the main indices.

Most stocks, not surprisingly, also remain in neutral consolidations. Don’t waste your time on something that won’t move.

Always make sure that you keep a winning attitude vs. a losing attitude (even when you are losing). I believe that the mental part of trading is more than half the battle. Play to win, not to lose. Don’t be scared money out there, for you will surely lose it. Read the Art of War by Sun Tzu and The Magic of Thinking Big by Dr. David Schwartz. Both great books that I highly recommend. A good trading system is nothing without the proper psychological conditioning.

Use my analysis of anything as a second opinion, and not as a primary method of making your decision. Since I am mostly human, I do make mistakes. Make sure that you always know what you are doing. Following people blindly will get you nowhere in your trading career if, at the end of the day, you are still clueless in what you did.

You can follow my twitter updates if that also helps: @WeeklyTA