April 3, 2011 – You are not good. The Market Was Just On Fire

Joe the Upside Trader wrote quite a nice post Even God is Long today.  The best takeaway for me is:

Remember that you’re not that good, the market was just on fire. – Joe UpsideTrader

Don’t take my word for it.  Read his entire post 🙂

Well, I’m personally too bullish and happy about the markets, and frankly,I appreciate Joe reminding me to take partial profits (just so I can sleep better).  Yeah, nothing wrong taking some profits off the table anyway, even if it goes higher.  Thanks for reminding me Joe:)

By the way, if you’re interested about the markets, I’m not sure why Twitter or Google or your Facebook pages haven’t told you that there’s Stock Twits.  It’s just one of the most “Rocking” Social Trading Communities online.  If you haven’t heard about them, then I’d be glad to give you a tour.

You can read them.  You can watch them.  Hell, you can even tweet with them.

Check it out, if you haven’t already.  StockTwits.com  – Share Ideas & Learn from Passionate Investors & Traders

When I’m quite a little bit interested to just see what’s on their minds, I go and visit the blogs of the people who tweet.  They’re online free mentors.  When I’m bored watching TV and I want something from traders, I sometimes switch this on.    It’s frankly up to you on how you want to be educated in the markets.  You can learn options, futures, US markets just by simply following them on twitter and their social media hubs (i.e. watching, reading, learning how they trade through their educational videos and analysis of trades).   What they teach is really timeless, and even if you’re not trading the markets that they’re trading, I’m sure you can pick up a few things here and there to further your trading education.

Here’s Steven Place just telling me he’s found divergences in copper.  Don’t take my word for it.  Watch him.  Below’s just a screenshot.

I wouldn’t put much into these posts, except that they help form the “mosaic theory” in my mind.  They’re helpful guides, but at the end of the day…they’re just GUIDES.

Now before I turn into a –one phased trader-face – to all the readers of this blog,  I’d also want to share that I’m also a big fan of Maria Popova who heads brainpickings.org  🙂

She’s heralded as Flipboard’s most loved feed and she deserves it.  Maria Popova is such a gem.  She makes my life richer.

Here’s one post that I loved (it was dated March 18)

Words Without Dictionaries – Learning vocabulary through pictures 🙂

http://www.brainpickings.org/index.php/2011/03/18/words-without-words-veronika-heckova/

Also, this is a great read – Microsoft’s Odd Couple (Great Lines)

Read more here: http://www.vanityfair.com/business/features/2011/05/paul-allen-201105?currentPage=5

Personal Highlights:

1.) Bill thought he was invincible but he was not

I was decent in math, and Bill was brilliant, but by then I spoke from my experience at Washington State. One day I watched a professor cover the blackboard with a maze of partial differential equations, and they might as well have been hieroglyphics from the Second Dynasty. It was one of those moments when you realize, I just can’t see it. I felt a little sad, but I accepted my limitations. I was O.K. with being a generalist.

I asked him about his first semester, and he said glumly, “I have a math professor who got his Ph.D. at 16.” The course was purely theoretical, and the homework load ranged up to 30 hours a week. Bill put everything into it and got a B.

2.) Bill drove himself hard and he drove others hard- He was an absolute workhorse.

Microsoft was a high-stress environment because Bill drove others as hard as he drove himself. He was growing into the taskmaster who would prowl the parking lot on weekends to see who’d made it in. People were already busting their tails, and it got under their skin when Bill hectored them into doing more. Bob Greenberg, a Harvard classmate of Bill’s whom we’d hired, once put in 81 hours in four days, Monday through Thursday, to finish part of the Texas Instruments BASIC. When Bill touched base toward the end of Bob’s marathon, he asked him, “What are you working on tomorrow?”

Bob said, “I was planning to take the day off.”

And Bill said, “Why would you want to do that?” He genuinely couldn’t understand it; he never seemed to need to recharge.

3.) Bill wanted you to overcome his skepticism.  He sometimes expected way too much too.

The irony was that Bill liked it when someone pushed back and drilled down with him to get to the best solution. He wouldn’t pull rank to end an argument. He wanted you to overcome his skepticism, and he respected those who did. Even relatively passive people learned to stand their ground and match their boss decibel for decibel. They’d get right into his face: “What are you saying, Bill? I’ve got to write a compiler for a language we’ve never done before, and it needs a whole new set of run-time routines, and you think I can do it over the weekend? Are you kidding me?”

4.) Bill’s a bluffer.  He really misses talent.

If you made a strong case and were fierce about it, and you had the data behind you, Bill would react like a bluffer with a pair of threes. He’d look down and mutter, “O.K., I see what you mean,” then try to make up. Bill never wanted to lose talented people. “If this guy leaves,” he’d say to me, “we’ll lose all our momentum.”

5.) Bill Craved Closure.

Bill craved closure, and he would hammer away until he got there; on principle, I refused to yield if I didn’t agree. And so we’d go at it for hours at a stretch, until I became nearly as loud and wound up as Bill. I hated that feeling. While I wouldn’t give in unless convinced on the merits, I sometimes had to stop from sheer fatigue. I remember one heated debate that lasted forever, until I said, “Bill, this isn’t going anywhere. I’m going home.”

And Bill said, “You can’t stop now—we haven’t agreed on anything yet!”

“No, Bill, you don’t understand. I’m so upset that I can’t speak anymore. I need to calm down. I’m leaving.”

Lastly,

Wanted to share a good find lately, Genkumag.wordpress.com – check it out.

Written by a Filipino trader who seems to be a good father, equally passionate in the markets and humble.  Niwei, I just saw it recently and it’s great to find a few gems in the rough patch.

http://genkumag.wordpress.com/2011/04/03/notes-on-sector-returns-and-correlation-structures/#comment-1204


P.S.

I’ll report my performance numbers for March (HK,PH) come Monday, because most of my files are in the office.

It’s okay.  It’s up but not really wildly up.  Plus, I haven’t really closed most of my trades so it’s still paper.

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Comments
2 Responses to “April 3, 2011 – You are not good. The Market Was Just On Fire”
  1. genkumag says:

    Thanks, Nix! Appreciate the mention! Hope we can collaborate on some market internal study or whatnot project soon. Good luck, good luck!

  2. babes says:

    sa mga link pa lang, panalo na.

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