A Quick Look At The Market

Thu Sep 11, 2008 11:20am EST 3

Taking a look at the DOW it appears we are making higher lows. However, should we dip below 11,037, kiss it goodbye.

Google Inc. [[GOOG]] has always been a pretty good indicator of the overall market. Right now the stock seems to be bouncing from the $410 level. Watch that level.

Oil seems to be bouncing perfectly from it’s 50% retracement level. Watch for a bounce here, and look to get short below that level.

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God Doesn’t Play Dice

Thu Sep 11, 2008 12:01am EST 28

As my readers know, I lost my best man in my upcoming wedding two Fridays ago. I am thankful for the support from everyone here, but there will be no more sympathy comments. Instead, I want to celebrate his life.

I am at peace now, as he was buried last night. The funeral was one of the hardest things I have ever had to deal with. Giving the eulogy was not an easy task, however it helped me say goodbye.

This man has helped me become the man I am today, and for that I am thankful.

He was always prepared for everything, and would always tell me “Be Ready.”

Well, the past two weeks I was not ready. Not ready to lose a friend, not ready to evacuate from a hurricane, and not ready to get punched in the nuts by mother market.

With everything going on I should have put the market on hold. But, I did not. I used it, “The Market”, as a sense of normalcy. However in that, I failed to properly prepare for what was coming.

In the last two weeks I took blows to my accounts, taking a “space alien magician summer” full of bountiful gains, to being almost flat for the year.

How did this happen? Bets. Very large bets.

I bet on oil spiking due to hurricane Gustav, that was a blow. I bet on the Government, ha, another dumb bet. All my life I was that guy who would make the crazy bet.

The last place I saw my friend before he passed was at a casino, go figure. We went to some club called Masquerades located in the center of Harrah’s, supposedly this is place to go in New Orleans. I remember him saying to me, as he watched me lose hundred after hundred betting on black, “this ain’t you”.

We left shortly thereafter with my finace puking in his car. Yeah, it was one of those nights. On the ride back to the hotel we had one of our famous talks, you know the ones you only talk about with your closet friends.

He told me gambling is for suckers, “the type of people we are” will never win. He said the only way to riches is through hard work.

Well, the past two weeks I gambled enough for a lifetime, and my account shows. It’s almost as if I was numb just taking hit after hit trying to hold back the pain I hid from losing my best man.

My friend was wise behind his years, and I only hope I take some of his wisdom and advance in my career.

Some of his last famous words were, “God doesn’t play dice.”

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