Fed watch

@_11:15 pst FOMC__WATCHING FOR PRICE REACTION TO THE ANNOUNCEMENT

click on the chart to enlarge

S&Ps cash b/o and follow through on 120min chart prior to the FOMC announcement

pause, a good practice when trading

"Human freedom involves our capacity to pause,
to choose the one response toward which we wish to throw our weight."      ~ Rollo May

Phone call.

I just received a phone call from my friend Bob who asked me for some new equity names to buy. This is what I told him;

YES,
WE ARE IN A BULL MARKET WITH BROAD LEADERSHIP, SPECULATIVE SENTIMENT AND AN ACCOMMODATIVE MONETARY POLICY.
BUT,
MOST LEADERS HAVE ALREADY BROKEN OUT OF BASIS AND NO LONGER OFFER ATTRACTIVE RISK REWARD RATIO.  THIS IS NOT THE BEST TIME FOR NEW POSITIONS. IT IS  A GOOD TIME TO WATCH THE MARKET AND IDENTIFY NAMES THAT ARE STAYING STRONG AS THEY ARE GOING TO BE THE FIRST TO GO OUT OF THE GATE WHEN THE MARKET BREAKS.
AND,
THERE ARE ALWAYS EXCEPTIONS TO RULES, AND THE EXCEPTION WOULD BE IF AN ATTRACTIVE ENTRY POINT PRESENT ITSELF YOU COULD BUY, WITH A SMALL POSITION, HOWEVER THESE ARE FEW AND FAR BETWEEN AT THIS TIME.

HOPE THIS HELPS

When you become discouraged__________

I've learned about Helen Keller from Napoleon Hill's writings.
If you become discouraged, think of Helen Keller, who, though she was deaf and blind, inspired her more fortunate contemporaries through her books.
"The life of Helen Keller is an outstanding example of the triumph of the human spirit over a physical handicap. Even today, decades after her death, her life stands as a beacon of hope for those who must constantly struggle just to perform routine tasks that most of us take for granted. Whenever you feel fate has been unkind to you, all you must do is look around you and you will begin to appreciate how fortunate you are."