Pessimism is defined as a tendency to stress the negative or unfavorable or take the gloomiest possible view. Obviously, the successful trader is not pessimistic. If so, then he would never trade in the first place or if he did, he would only trade short; a “permabear” if you will. A purely pessimistic trader would also doubt his edge, doubt any market direction, only trade after the move has happened, cut his winners short while allowing his losers to run, overtrade, under invest, etc etc. In other words, a purely pessimistic trader would break all the rules.
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Charles Nenner appeared on CNBC again this morning providing his lastest cycle predictions for the market in general and gold in particular. As usual Mark Haynes was not able to give Mr Nenner much time to explain his cycle research (I have sent Mr Nenner an email requesting a follow up interview).
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1. September is considered to be one of the worst months on record for the stock market. Whether or not we see selling pressure again this year is yet to be seen but so far we have knocked out the best trading days of the month scenario.
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Email me with any questions you would like me to ask Mr. Nenner the next time I conduct an interview.
Visit the Charles Nenner Website and inquire about receiving the newsletter. Mention The Crosshairs Trader for a possible “free look”. CONTACT FORM HERE.
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I believe stock traders possess two personalities: one good and one not so good. If stock traders have dual personalities then we must ask ourselves: “Which personality controls our trading?” The answer can make a huge difference in our trading success. Let’s take a look at the two personalities and [...]
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There are no secrets in the market so this is not a new phenomenon and I cannot take credit for its “discovery” and neither can any one person in particular. However, let’s look at this statistic in a little more detail (including a slightly different opinion) and find out why this phenomenon exists. Then let’s look at what I believe is the best way to trade using this information.
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I recently wrote about the dire predictions for the market as the focus of the financial stations and trading websites turned toward the “bearish head and shoulders” pattern forming on the S&P. This pattern turned out to be a deception and the market took off like a rocket off the 200 TANKS and up past the channel we discussed when we were looking at either a missile launch or bunker building from a recent range. We knew one or the other would take place with great force and energy.
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The dictionary defines deception as a trick or the art of deceiving someone. And how do you deceive someone? By hiding the truth behind the facts. There is an art to this. Indeed, trading is an art, an art of deception, like it or not. Does not matter whether you believe it not, it just is.
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In the meantime, while listening to a local radio station in MO, I was provided some interesting websites to visit, both of which claim to shed some light on when our “recession” may end.
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As before, I would suggest you contact Charles Nenner Research via this CONTACT link. Mention THE CROSSHAIRS TRADER in the MESSAGE SECTION and in the follow up phone call. You could receive a FREE TRIAL of the Charles Nenner Newsletter.
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