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Trading Stays Rough
By Rev Shark
RealMoney.com Contributor
3/24/2006 8:56 AM EST
"Pound the rock."
-- Rod Marinelli
Football coach Rod Marinelli used the phrase "pound the rock" to remind his players that if they kept on grinding day after day even the biggest boulder would eventually crumble. That is particularly apt in this difficult market where making any forward progress has been extremely difficult: Whenever it looks like we are the verge of a gaining some momentum, we are turned back.Many traders feel like they are running hard just to stay in place, which is not only exhausting but frustrating. But that is the nature of the market beast that we battle every day. I'm fond of saying that if this was simple and easy it wouldn't be so potentially lucrative -- good things require real effort.
The most important ingredient of market success is tenacity -- sticking with it day after day and pounding on that rock even if it feels like it's a useless exercise. It is particularly important when we have a choppy environment that you persist at your trading. More often than not, when you aren't expecting it the clouds will part and the sun will shine through. Once the rock starts to crack, progress comes fast and the only way to fail is to give up. Buckle up -- we've got work to do.
It looks like we have another tricky day here and it's important that we make sure we have the drive and emotional balance to deal with it. We don't want to lose our edge at the wrong time.
Google's addition to the S&P 500 index is shaking up futures a bit. The Nasdaq and Nasdaq 100 are perky on the news and the DJIA and S&P 500 are doing nothing. As I discussed yesterday, there were some subtle signs of buying in the technology group and with the surge in Google this morning there may be some sympathy buying. I would not get overly excited about the Google news as being a driver for the broader market, but the news sure doesn't hurt.
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Väike meeldetuletus järgmise nädala kauplemise kohta, et kuna USA ja Euroopa lähevad kevadel erinevatel aegadel üle suveajale (USA aprilli esimesel pühapäeval, Euroopa märtsi viimasel pühapäeval), siis USA aktsiaturul toimub kauplemine järgmisel nädalal kella 17.30-st 24.00-ni.
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Poorduks korraks tagasi Islandi juurde, nimelt täna kukkus sealne aktsiaturg üle 4 protsendi ning põhjuseks Standard & Poorsi raport, milles leitakse, et Islandi majandus on järgmisel aastal nullkasvuga (Danske Bank prognoosis 5-10 % langust), kuid juba 2008. aastal peaks majandus taas tõusuteele minema. Aasta algusest on Islandi kroon euro vastu nõrgenenud 16% ning dollari vastu 17%.
