The Boys of Summer
I expect this week to be fairly light since Labor Day is this weekend, which will be time for the Fund Managers to get in their last hurrah before dragging their butts back to Wall Street on Tuesday. That will make me happy because the last couple of months have been rough with volume and no clear direction. Time for the "Boys of Summer" to start earning their fat paychecks again
Meet "Trader Tim"
If you have not already done so, I highly recommend the blog "Trader Tim." Tim Knight, the blog's author was the creator of Prophet.net, the interactive chart software that INVESTools uses. It is also a stand alone product as well. Anyway, Tim is a total "Bear" which means he LOVES the downside of the market. Why is this important? Well, many people have a psychological problem with being Bearish because it seems "un-American." This is because being bearish means you want companies NOT to do well, thus making their prices go down. Some people just can't do that. I, for one have no problem with that since I am neither a Bear, nor a Bull, I will make money either way.
Why is Tim's blog important for "young" traders? He offers some excellent market analysis and technicals using his software and gives his opinions on things. I have made some good money off some of his recommendations (do your own due diligence), and it also helps you build your technical skills. I visit his site religiously every night as part of my daily routine. Maybe you have your own favorite market blogger?
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