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The Abby Indicator
May 5, 2008 - Wow. We should have recognized this one all along. Abby Joseph Cohen was given the...
Wow. We should have recognized this one all along. Abby Joseph Cohen was given the heave-ho from her very prominent, very public role into some similarly-named but not nearly as visible job at GS on March 17th. In other words, the loudest permabull on the planet was zapped by GS on the exact day of the market's low. How's that for a contrary indicator?
Unfortunately, that's not something we can make use of again, except insofar as public spectacles like that actually mean something. I'll also mention that my little foray into being bullish on housing/financing stocks made me a few hundred bucks here and there, but I've sold all of these off now. There are breakout failures all over the place. I got lucky, but I don't think a long-term hold thing would bring anything but misery.
Hopefully a little later today I'm going to ask you to return all the love I provide in this blog by answering some survey questions. Stay tuned. Discuss this article in the forum. ...thanks
for the trust you've shown in MrSwing.
Disclaimer: Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests. Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk. There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital.
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