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Love the price action in ES. Opens down big, sweeps out the stops and then rebounds back to green. It's been doing this every night for two weeks. Taking out all the longs with stops on the swing lows. We still need to hold this level this week. If we don't close lower this week, we could...

Great interview. Read it over completely, especially the parts on position sizing and leverage. http://www.mercenarytrader.com/2011/03/interview-with-a-trading-legend-part-i/

Case in point, here are the numbers for John Taylor's FX Concepts. He runs the largest currency fund in the world, around 8 billion, strictly currency. As you can see, his numbers go back and forth between good year and bad year...

Currency funds are horrible. Currencies can go years and years without any meaningful moves and then in one year explode, usually during a crisis of some sort. You need to spread your money around. That could be stock, commodities, debt or currencies. Why miss a mega move in Gold trading...

http://finance.yahoo.com/news/investors-losing-faith-commodity-hedge-094815366.html Interesting article. It's tough out there.

So if you recall about a month back when the market was making fresh new highs and I kept talking about how the number lines were deteriorating. We kept going back and trying to test the highs, each time looking like were about to break out, but the number lines kept getting worse. Well...

So you two are on speaking terms again? :) You and Joe that is.

So the QTR levels continue to hold and the number lines are firming up. But what is more impressive is how well this market is absorbing bad news. Usually I would be really worried about the market trading sideways at the lows but it's trading sideways on BAD news! Bad news/good action...

What are you watching right now Quon?

Pretty quiet in here today.

Soybeans off over a full dollar now from the highs. Down 40 cents today.

Absolutely. I think Bill is a great politician with many personal flaws. The guy knows government inside and out and has great leadership qualities. Unfortunately he was easily corruptible. I would take Clinton over Obama any day. I would take his wife over Obama any day. I consider Bill...

I guess, but pretty damning critique from one of our more popular presidents no?

http://www.nypost.com/p/news/national/bill_blockbuster_an_amateur_XJHYdaV5LT1vpr5I39IKrN Bill blockbuster: O’s an ‘amateur’ By CARL CAMPANILE Read more: http://www.nypost.com/p/news/national/bill_blockbuster_an_amateur_XJHYdaV5LT1vpr5I39IKrN#ixzz1uZhzwTHC Bill Clinton thought...

http://www.tmz.com/2012/05/11/beach-boys-singer-bruce-johnston-barack-obama-socialist-ahole/ Beach Boys Singer 'Obama's a Socialist A-Hole' Americans will be "f**ked" if Barack Obama gets re-elected ... this according to Beach Boys singer Bruce Johnston. Bruce was signing autographs...

Nope. No exaggeration at all. Where is that Obama budget? Three years in office and no budget? Come on.

You know what would be great. If our President actually put forth a fucking budget instead of wasting every minute in office raising money for re-election. Just an idea. Would be nice you know. The irony of a man working to raise money to do a job that he doesn't have time to do because has...

Once again the number lines provide support in the market.

Natty gas breaking through the monthly A up again.

Anybody watching this cotton crash?