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Emotions and perspective


As Todd and I have hopefully been able to convey to all of you so far, the game of navigating the financial markets and our lives are about balance and perspective. Emotion is unavoidable because it comes with the human condition. The one thing that is avoidable is how we react to it. When I was relatively new in this business, I had it all wrong. I believed the tape would care what I thought and would eventually realize that I was right. In short, I had no balance or perspective; I just had ego and therefore insecurity.

To some extent those are still with me, but now I try to learn from my mistakes. An example is what I have been writing about the tape. The only way to remove my emotion regarding the tape is to turn down the TV in my office, minimize my ILX quote screen, and turn on the radio with easy listening music that is enjoyable but not distracting. First, I must remember that I am a market analyst and not a trader. Then I outline the reasons for any prior views and see if they have changed on both a short and intermediate-term basis.

That was the purpose of this morning's article. On the near-term, the tape is ripe for a "technical" bounce. On the intermediate-term, the factors that have plagued stocks for some time remain firmly in place with no identifiable resolution. In addition, as outlined on the charts in yesterday's article - the equity indices are overbought and have lost momentum.

The key is to act based upon your own perspective and balance. No one can find those for you, we can only help in the process. As I am sure that Toddo would agree - the same goes for our fortunate interaction with you. You all help us find our balance and perspective when things get a little too crazy. We are indeed very fortunate and for that my efforts in this space shall never waver - for that you also have my word.

While Toddo is tiptoeing around the tropical beaches (now THAT is a scary visual), it will be my honor to "hold down the fort." Tune in because fun stuff happens no matter what week it is and next week is sure to be no different. If you would like to get in touch, as always feel free to contact me at
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Like I needed that visual of Todd on the beach and Daisy eating her skirt!
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