Today is Friday the 13th for the superstitious among us….
There were three winners to the Powerball Lottery Jackpot on Wednesday 2/11, which climbed up to a decent $564 million prize due to all the additional buying by folks who don’t normally play. When the prize amount reaches true odds, I’ll get a ticket.
One of the winners is a mother who had to quit her job to care for her kids. Nice to see someone win who can really use the money. Hopefully she avoids the excesses of newfound wealth that has ruined other big winners that are filed under “lottery curse”. She sounds like she has a good head on her shoulders, but she’s already made what could be considered a mistake – revealing herself to the public. Now she will be besieged by that many more folks for a slice of the lottery pie winnings.
It must be a surreal feeling to wake up one day and find yourself a multi, mutli millionaire. Any concerns you had about money instantly evaporate, and you are left with lots of interesting choices going forward.
The weather this year has been a tale of East and West, with the eastern States suffering under brutally cold temps while the western States enjoy an above average mild winter weather.
I was checking the temps of Boston and New York – both below freezing and going as low as single digits with many areas outsides the cities going into negative temps without even factoring wind-chill. The few weeks I was there was more than enough for me.
Meanwhile, it’s been in the mid 80’s during the day in Cali, with temps about 20 degrees higher than normal. It feels like summer. The only difference between now and “real” summer is the temps drop fast at night and the mornings can be brisk.
Part of me absolutely loves this extra warm spell we’re having, but there is a dark side to this weather pattern as well. Nice weather means less to no rain, which makes the multi year drought situation worse. One side of the country is getting too much precipitation and the other side not enough.
The trading week has been quite eventful. In a way, it was a rotten week in trading thanks to my own mistakes, but it was a great week thanks to the results of analyzing those mistakes.
I’m learning that new abilities lead to over confidence, which leads to making unforced errors….although this lesson isn’t new. It’s just shows up from time to time as a refresher to keep the ego in check.
I’m also realizing the continued huge benefit of after market analysis. For anyone who truly wants to learn how to read and trade the markets, there is no substitute for carefully analyzing all of one’s trades at the end of the day when all the market data is in. At the end of the day, you have the full answer key to compare to one’s actions during the day. Figuring out where the errors were made and what could have been improved on is what gets your brain in problem solving mode. It may take a while, a long while, but eventually your subconscious starts processing answers.
The results of this week’s analysis has led to another clearer understanding of market behavior that will be a big help in taking trades more often with recognizing more daily trading as well as long term investing set ups.
The market reached new all time highs today, and the old me would have been affected by the seemingly contradictory market climb vs sluggish factors of the economy. Now where the market is doesn’t affect me at all nor does any economic forecasts. All I see is market movement and the battle between support and resistance.