What a crazy week last week with the iPHONE launch.
What the heck is going on with APPLE and the markets in general?
Crude closes over $71 a barrel, soybeans traded limit up, and the stock market is alive and kicking. Interest rates are over 5% and the subprime mess is still out there in the merky underworld of voodoo finance..
So, what's really going on in the markets?
But first, I have an important question for you.
What's an iPHONE or APPLE's stock or any market really worth?
In this weeks poll 72% of our members said they would not buy an iPHONE.
O.K., maybe that's a trick question, but here's the short million dollar answer.
IT DOESN'T MATTER. Let me say that again. IT DOESN'T MATTER.
Why would I say something like that, why doesn't matter?
Here's a cruel reality of the marketplace.
It doesn't matter where these markets are headed. What matters most is you get the direction right.
The reality is, these are trading markets. They are all driven by market sentiment.
That's the kind of markets we are in right now, and we are likely to stay in this mode for quite some time.
What matters most is that you get the direction of the market right. You can only determine the trend by using pure market action. The easiest way to do this is by using a program the tells you in plain english what the
market is doing.
Take a look at these complementary market videos.
Don't let the hype, hoopla, news and chat rooms fool you. A market can only do three things, it can go UP, DOWN or SIDEWAYS, that's it!
When you hear about the next hot market, that is headed for the moon. Just say to yourself "it doesn't matter". That way you will know when to get in and more importantly, when to get out.
Take the next several minutes and watch the movies and let me know what you think.
Here's to thinking "it doesn't matter" and your best trading year ever.
Adam Hewison is a former floor trader and past member of several major
exchanges, including the International Monetary Market (IMM) a
division of the Chicago Mercantile Exchange in Chicago, Index and
Options Market(IOM) Chicago, New York Futures Exchange (NYFE) and The
London Financial Futures Exchange (LIFFE). Adam is the author of
"Right on the Money, The Definitive Guide to Forecasting Foreign
Exchange Rates" and numerous other financial ebooks and web movies.
His latest project, MarketClub is a new web site dedicated to catching
big moves in the markets using Adam's "Trade Triangles" approach.
"Learn how to use MarketClub"