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Commitment to Excellence

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There's going to be good days and there's going to be bad days...and then there's going to be days that just are. Through it all, any given situation (or person) will tug at your sleeve and try to throw you from your game. My friend John Brett used to say "Take care of the minutes and the hours will take care of themselves" and I can't think of a more appropriate way to end today's column. If consistency is going to differentiate our performance, the mechanics of our swing must remain constant regardless of the pitch.

Don't get me wrong, I'm not immune to human emotion. As a matter of fact, my friends will tell you that I'm particularly emotional at times! However, if you're going to find success in the world of trading, you must strive to remove it from your process. There are surely times that you want something so badly that you can taste it but, if nothing else, we've learned that hope isn't a viable investment vehicle. When in doubt, err to the side of caution and live to trade another day.

I did the Texas two-step today (no pun intended) and slipped in and out of a trading appendage. I'll hop home tonight with one leg in my metaphorical bear costume (25% conviction) and the knowledge that I did the disciplined thing. This continues to be a critical juncture for the tape as the S&P closed right near resistance and the NDX is trading near its previous November high. If (big if) the Nazz fails from here, every technician and their brother will point to the double top (bearish).

I wanted to take the time to respond to some frequently asked questions. Minyanville will launch on December 3rd and we'll be keeping the entire site free through year-end. As of January 1st, my column (along with some others) will cost $10/month (free for qualified students). Our intent is to deliver informative and educational content at an affordable cost to all readers. As a matter of fact, once the University of Minyanville is back in session, we'll be rolling out classes that will be free for anyone who wants to learn about finance and the markets.

Once again, and on behalf of Casey and the critters, thank you for your continued support and kind feedback. Energy is a powerful thing and we're feeding off the good vibes of the readership. More importantly, and above the prospects of our fledgling site, please take a deep breath and appreciate the good fortune that we share. There are some evil people in the world whose goal is to destroy the fiber of our beings and our way of life. By living well and laughing often, we've found a profitability that can't be measured by dollars and cents. And that's the best trade of all.

Have a peaceful night.
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