November 22, 2018 Trading Update – A Thanksgiving message; Spotting potential bubbles; Technical and fundamental analysis; heuristics

I have uploaded a podcast for November 22, 2018. Click here to go to the show archives page to listen and look at the relevant links or you can listen on the link below. You can also right mouse click here to download the podcast.

-In this age of godlessness, I thank Jesus for giving me a good life, free of despair and poverty, and full of wisdom, insight, abundance, and protection.
-What I saw in the oil market last month. The first chart is the WTI oil futures price. The second chart is for the XOP ETF.

The XOP is an ETF of oil drillers and this gap down on 10/23 telegraphed that oil was going lower.

-Once we create wealth and make money, we need to hold onto it. In the internet economy wealth is created and lost much more quickly. The internet is not a wealth equalizer to most people.
-Technical analysis can be very useful to all traders and investors. Some rely on it more than others.
-As we gain experience we can develop an individual and unique set of heuristics that suits our mindsets and goals.
-Many novices suffer from the hindsight bias. It is always much easier to profit in hindsight.
-Never think that shorting the markets is a sure thing. Wiped-Out Hedge Fund Manager Confessed His Losses on YouTube.
-Technical analysis is very useful. Some traders and investors use it exclusively, others use it as verification. Everyone is different and your mindset will determine with what you are most comfortable.
-Our goal is to build wealth in these asset markets and hold onto it. We need to plan for the future as the NWO agenda moves forward, so making sound purchase and sale decisions will be the difference between living easier and struggling.
-I don’t try to predict every market, but I try to identify the more sure bets.
-Happy Thanksgiving!