Archive for the ‘Commentary’ Category

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http://www.tradewins.com/wendy-kirkland/

As Always I Wish You The Best,

Wendy Kirkland

With the election this Tuesday, Quantum Easing and the 2 day Fed meeting taking place the week of November 1st is cause enough to think that the market as a whole might use these events to initiate a pull back.  We have had a nice run with out much downside.  There are other indications that a correction might be at hand.

NON-CONFIRMATIONS IN NASDAQ AND NYSE BREADTH… While the Nasdaq moved to a new high this week, the Nasdaq AD Line flattened out and failed to keep pace. Chart shows the Nasdaq AD Line with the Nasdaq in the indicator window. The inability of the Nasdaq AD Line to make a new high amounts to a non-confirmation. The AD Line is cumulative of Net Advances (advancing issues less declining issues). Net Advances increase as advances outnumber declines, but decrease when declines outnumber advances. Failure to make a new high suggests that fewer stocks are participating in this latest advance. While this non-confirmation looks relatively small, note that prior non-confirmations foreshadowed pullbacks in late June and August.

(click to view a live version of this chart)
Chart 5

The second Chart shows the NYSE AD Volume Line with similar characteristics. The AD Volume Line formed lower highs as the NY Composite flattened in mid June, early August and now late October. The lower highs show weakness in the AD Volume Line, which is built on Net Advancing Volume. This tells us that the volume of advancing stocks is dwindling and the volume behind declining stocks is increasing. Prior instances foreshadowed pullbacks in the NY Composite.

By Arthur Hill/Reprint/Charts compliment of Stockcharts

The advance/decline issues and volume (if the chart follows previous patterns) that a correction could take place shortly. With that in mind, it is wise to stay nimble, be prepared with put candidates and to to protect your profits on long term option positions with short selling strategies.

I was listening to the radio while driving home when a friend called to tell me Amazon.com emailed to advise her that her copy of Option Trading in Your Spare Time- A Guide to Financial Independence for Women had been shipped. Moments before the phone rang I realized that the date was June 30, the anniversary of my mother’s death.

It seemed fitting that the day my dream was becoming a reality also commemorated the day of her passing. 

Death has been on my mind this week, not in a depressed or morbid sense, but because a number of celebrities passed away the last few days. Farrah Fawcett, Ed McMahon, Billy Mays and Michael Jackson.

It’s funny isn’t it, that we never forget where we were when we first hear surprising or shocking news. People will often ask “Where were you when JFK was shot?” Or “Where were you when the planes hit?”

Death has a way of slapping us across the face and waking us up in a way we never forget. The question inevitably arises, “What legacy did these celebrities leave behind?”

When you hear their names you probably have mixed feelings. For better or worse their deeds or accomplisments are the legacies each created for themselves.

Personally, I tend to dwell more on the legacy of their memorable songs, videos, dance numbers, movies, TV shows, and jokes that made me laugh. Those are the things I will continue to enjoy.

How about you? What kind of legacy are you leaving?

Lately, I’ve been asking myself that question more and more often.

The publication of the option trading book is the accomplishment of a major goal, one that has been in the works for more than two years, but I still have a big list of unfinished business personally and professionally that I’m tending to.

Looking back over these people’s lives reminds me that the legacy we leave is a combination of both what we do and how we live our lives.  And that life is short.

For many years I have been involved in one women’s group or another, most geared toward the empowerment of women. The publication of the option trading book is major step in that direction. I want to make a difference in the financial security women experience. Some might call that ego. But I prefer to think of it as simply an honest assessment of the gifts I’ve been given and a compelling vision for my life and what I might be able to do with those gifts. What you share and teach becomes  more strongly rooted within your own personal disciplines. As I teach other women to successfully trade options, I become a better trader.

Oliver Wendell Holmes said, “Most people go to their graves with their music still inside them.”

I’ve  promised myself I’ll hum a tune everyday. 

What is the thing you know deep down you should do, but you’ve been too busy, lazy or scared to try? Maybe it’s taking charge of your own financial future. I’d love to meet you along the path to financial independence.

Whatever your goal, get started today.

It’s painfully obvious that tomorrow may be too late.

Go make it a happy day!