a major top ?

we don't know, but we know that majority of people are now stuck on the wrong side of the market
 re-read August 16th blog, What do we do now?

~ the more you struggle the quicker you sink ~ the first solution is always to relax and often move slightly in the direction that is opposite to what your instincts tell you

some simple solutions.........

When you are stuck, the more effort you put into trying to un-stuck yourself, the worse off you become. It’s a little like being stuck in quicksand—the more you struggle the quicker you sink. The first solution is always to relax and often move slightly in the direction that is opposite to what your instincts tell you. For example, a pilot going into a nosedive must first push gently into the dive to get air flowing under the wings properly. At that point he can begin to control the airplane. Similarly, when you start to skid in your car, you must first steer into the skid until you gain control over the car—which our natural reaction is to do the opposite.

If you are stuck in your goal of becoming an excellent trader, try doing the opposite of your instincts. If you must take a trade, make it okay not to take the trade. Instead, move toward working on your emotions.

The second solution is to focus on what you want. When you focus on limitations, you feel the emotions of the stop sign or the limitation. When you focus on what you want to achieve, then you begin to see possibilities and new resources that open you up. What is your focus?

Finally, the third solution is to focus on being what you want to be. If you want to be a great trader, don’t focus on what they have or do, focus on their state of being. What is it like to be a great trader? What is it like to step into their shoes?

New ~ P.G. Trading Tribe starting in September

NOTE ~ even though we call it the trading tribe it's not only for traders, but for anyone who is willing, able and ready to grow and improve their lives

The Trading Tribe

is an association of people who commit to excellence,

personal growth, and supporting and receiving support from each other.

The members of the Trading Tribe 

trade roles, becoming, in turn senders and receivers for each other.

Mastery Includes

• The Trading Tribe Process.
• Going with the Trend.
• Right Livelihood.
• Support Network.
• Contributing to Others
  
  for more info about the TTP process go to http://www.seykota.com/tribe/TT_Process/index.htm
  
  
  
  for application details and any questions regarding P.G. Tribe, 
  email mtci@telus.net

What do we do now?

Risk is high. Market's been trading sideways for a while, but now it looks like it's rolling over. There is lots of overhead supply created by people buying in the range and now stuck with a loss. The longer we stay below the range the more willing these people will be to sell and that can create even more selling. For now even though it looks like we are going to roll over,  I would not go and short yet, wait for a bounce, second entry is higher probability trade. Staying away from the long side now except for pickings in some areas, like metals, that can move independently of the market.

follow up on MCP

                              still stalking

Friday's News : Investigation of Molycorp, Inc. ;

there was lots of overhead supply before the news, now even more scared people, so it's going to be interesting to watch the price action next week
do we find support and turn around, or do we follow through on the gap, break down through support and accelerate, or do we stay in the range and find the fairest value in there for awhile

How Great Can You Be?

Some days trading will feel like a lion fight.

Remember that if you are going to fight every day, then you are going to get wounded from time to time and you will have scars. Don’t lick your wounds….. and realise 
that the scars you wear are a sign of a competitor. Just because you have a 
bad day fighting, does not mean you don’t know how to roar. 

http://vimeo.com/43266438#