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Today’s Best S&P Futures Turning Points: Buy 5065.50 stop 5061.25. Short 5176.00 stop 5181.75.
Tuesday’s results: Neither trade triggered.
The World Index: (+100/-100) lifts from +43 to +64 with most major world markets Bullish on rising volatility.
Catalysts: Durable Goods @ 8:30. Crude Oil Inventories @ 10:30. 5-Year Treasury Auction @ 13:00. META & IBM earnings after close. TSLA up 12% pre-market.
Quick Tip: Being Wrong
We’re ingrained from childhood to be right. Rewards for being right, punishment for being wrong. In trading this is destructive thinking.
George Soros famously said: "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."
Of all the words I’ve read about winning and losing, being right or wrong, none sum up the situation better than this quote. Embrace it and you’ll feel much better when you lose.
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Trade Fearlessly,
Mike Siewruk
P.S. Feel free to pass this along to your trading buddies. Share in the wealth!
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