CFRN Emini FuturesCast 06/28/11

(QQQQ)(DIA)(SPY)(GLD)(SLV)

We're back... and sitting tall in the saddle after 5 days of techno-hell. No sense taking up white space here, just click the headphones and hear all about it (twice).

I get questions 'bout dem zones from time to time...

Stuff like, "Do they work?"
To which I answer playfully, (if I'm not in a mood) "No they lead a life of leisure and hedonistic pleasure. They've never worked a day in their life."

Huh? Exactly!

People respond to my answer the same way I respond to their question.

Take a hammer. Well don't take it, borrow it, or buy it. Chances are you already have a hammer. Right? In fact some of you might even have specialty hammers. Claws and mallets and such. Now let me ask you this about your favorite hammer. 

"Does it work?"

I know what you just thought, but think about what you just thought. Does it work or do you? Would it "get 'er done" in my hands as well as yours? Might I possibly end up in the emergency room with cartoon stars circling my head if I failed to use it properly. Trust me that's a highly probable scenario. On the other hand, you could very well take that same implement of mass construction, go to Africa and use it to build a very fine home for a widow or an orphan. Same hammer, different outcome.

So what's my point other than my uncanny ability to be clever with words? They're a tool. That's all.

"Does it work?"

Click to enlargeIf you asked something more specific like "did it nail the high yesterday?", then I guess the answer would be yes (twice). Or if you asked something more specific like "did it nail the high today?", then again I guess the answer would be yes. 

"Did it catch the pull-back low yesterday morning?" yep

"Overnight low?" yep

"So you're saying they work all the time?"

No, here's what I really said - 
"They lead a life of leisure and hedonistic pleasure.
They've never worked a day in their life." 

How long has it been?
What indicator, oscillator, methodology, haven't you tried?
How many times will you start over?

There's only one path that leads to true trading success -

LEARN HOW TO TRADE 

Podcast for Tuesday 06/28/11