Posted on September 3rd, 2008 at 11:59 PM

Sunpower (SPWR) showed a nice looking XTL breakout on August 15th.  It never triggered.  In time, the stochastic trade may set up and trigger.  I am keeping this one on my watch list.

By Richard L. Muehlberg*
Posted: September 5, 2008  
 

Have you ever seen a price move without having any idea why it moved the way it did at exactly that moment? There are moments when trading can feel like a throw of the dice. It is as if other traders are watching "invisible lines in the sky" that tell them what and when to buy and sell; they can see these indicators, but you can't. No doubt you are constantly looking for ways to improve your ability to know why and how prices move. You look to find these secret lines.

By Richard L. Muehlberg*
Posted: Sep 5, 2008

Have you noticed how many first-career traders (also known as "shooters") were high school or college athletes?

Look at the ranks of the Greenwich hedge funds and the trading desks of the major Wall Street firms. Take a swing by the trading desks of Chicago, San Francisco, London, Dublin, Pretoria, Sydney, Tokyo and Hong Kong (apologies to any city I left out).

While they were in school, I assume these fast 20- and 30-something traders had no idea they were training to be traders. They learned about competing in groups. They learned to aspire, risk, hit and be hit. They learned discipline. They learned the value of mental stamina, mental speed and specializing. They ended up on trading desks. They got their jobs by helping each other, getting a mentor / coach and training, which is what they learned to do as athletes.