Friday, January 8, 2010

The Daily Note - All Eyes Toward Inspiration

Do traders become myopic over time? In search of what will be, are we focusing too narrowly and too far into the future? I've been wondering that of late, watching the markets move seemingly disconnected from reality; or am I the one with the malady? It is one thing to take breaks and go outside the realm of the multi screen desk, but as I interact with people I realize my working world is very different, indeed.

We are focused daily on business, commodity and financial news with charts, figures, fundamentals and further fill our heads with daily data on employment, output, imports/exports, housing, inflation/deflation, the dollar, the fed, gold et cetera, et cetera, et cetera. The reality is that most people outside our working world give not a thought to what is happening elsewhere from their own arena of life. They have other concerns; they think about traffic, work politics, what their boss wants, how they will achieve their quote, goal or other plans in life, their family. They look forward to the weekend, not ten months down the line, they don't care if WalMart or Target make money, they want to spend as little as possible for their needs. They're worried about buying food, or gas and paying mortgages.

Which makes me wonder .. are we adding any value to anyone life? I know many in the business manage money or offer financial advice. I know many invest and help to start businesses. I also know that our involvement moves markets like never before, and redistributes fortunes a lot better than any socialist can dream. But .. then I wonder .. what else does it do for those living, struggling to get by in their daily lives?

Today we anxiously await the jobs report, everyday millions of us tune into CNBC, watch the endless shows and reports about business and markets. Daily we are pouring through the charts and twit stock picks on StockTwits and think that most people have not a clue about what we do; and if they did, I wonder how many would care or see any value.

Perhaps I'm a little bit down maybe looking for a little inspiration,as the thoughts whirl through my mind and I take a step toward something new... for now it's a new dance.

Happy Trading, Living and Dancing


The Play List:

$BIDU BIDU_2010-01-08_0507

$POT looks to about $128-$131 next long if it holds above $125 Short below $123 to $122-$122 and down to possible $118

$GOLD GOLD_2010-01-08_0642above $84 to near $86 Short below $83 to about $81

$NBR NBR_2010-01-08_0630