MARKETS

Responding to a couple of emails earlier today asking: "What has changed?"

Nothing, as today's market has shown. I repeat for all of you, use William O'Neil and you will be a happy camper eventually. I also learned a long time ago from Peter Steidlmayer to let the market tell me what to do. Trade with market information, not stories or news or stuff from the Journal all of which is "in the market" because guys much smarter than you or I already have the information and have acted on it. If this French strike gets worse there will be a nice surge when foreign money gets scared and seeks opportunity and safety here, but so what? I have learned to be a mechanic, no emotion at all, just trade on my market generated data knowing I'll be wrong a lot and that I'll get out with very small losses and when I'm right I'm going to do many hundreds of percent.

News, other than stuff like 9/11 which none of us could do anything about, means zilch. I only use it to understand why something HAPPENED, not to jump into something new. Most, if not every, economist is a horrible investor or trader. The best traders I know are all math freaks who trade on numbers, period. All the really successful people I know have some background in math, and many share their systems after they've made their "score" (O'Neil made $300 million, Steidlmayer made $50 million TRADING commodities, etc.).

I hope I can share my success using other people's systems.

currencies Is the dollar at a bottom? Right! The fifth bottom since May of last year. It's turned when it's turned. Trends last for years and this downtrend is short for a currency trend, but eventually it will be over. I don't trade currencies very often any more.