Thursday, November 04, 2004

I Fought the Law

"Investing is all about risk/reward. Presently Wall Street is selling you risk. So if you are buying their lemonade, just remember the stuff comes from lemons." -- Bill Cara from

I fought the law and the law won! So far, that's what it looks like. I tried to go against the tide and the tide was just too strong. I haven't stopped out on my short, yet. But, man, is it ever close. Of course, I never issue a hard stop and never close a position intraday. Through exhaustive backtesting, I have found it is always best to enter your I'm a loser and must get out of my position trade the following morning at the open. Until then...I have to fight this tide with all my might.

Bill Cara from TraderWizard has come up with an interesting idea. What if we track the market pundits on TV? Track their prognostications? That way, anytime you begin to hear these blowhards'll know whether they have the perfomance to back their mouthpiece. Read on...

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