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#