Day Ahead: 10 Things to Share with Investing Pals
Analyzing the stock market, and actually not losing your shirt in the process, requires a couple basic tools that you may have overlooked. Let's state this up front, none of these tools have anything to do with owning four flatscreen computer monitors. The essentials include:Bratiness: Respect the trend-is-your-friend mantra, but if your analysis is suggesting go contrarian, be mentally prepared to chuck up the deuces to the consensus (offer a V-sign). Intense Intensity: Think along the lines of that adrenaline rush when a juicehead makes fun of your girlfriend. You do nothing, but then rifle off a swearword-laced tirade after the muscle head departs. Respect: Pay respect to consensus opinions in the market for they could net you money, until they don't. Discipline: The ability to ignore everything else around you for hours on end and enjoy doing so in order to crush the other guy. Yeoman: The ability to work and analyze day in and day out, no matter the previous day's mistake.
I call this the #BIRDY approach to investing, but am open to adding new building blocks so holler at me on Twitter (@BrianSozzi). For the entire month of August, I have practiced #BIRDY to the fullest. There was me being a fake friend to the bulls earlier in the month (rode the wave but silently prepped negative signs I was seeing ... I tend to be early with macro/micro calls). Then, this week, did a 360-degree turn to short-term bearish. Now, I have this funny feeling inside that you have missed the homework that I slave over to develop. So, here is a Best of the Hit List from pieces in August. Be aware that you won't find me chatting about Elliot Wave Theory or downward facing triangles (huh?). Instead, I like to keep things practical. In doing so, what I see could be weaved into your daily routine and we could be early and win together, which is fun....410 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.