| ||||||||||||||||
- The market action this week was a big yawn compared to last week's rally. I think it makes an intersting set up for the last week of the month combined with pre-Labor Day weekend. Both should be catalysts for a rally later in the week, but we'll see if investors try to game it early and send the market up monday.
- I'm going to start writing daily blurbs about how I time the market. Obviously, many of the things I write about daily are major factors. The first item on my list is "Investor, know thyself." I have to know what my goals and objectives are, and also understand what my risk tolerance is. I don't have much success or patience for short-term trading, so I don't do it very often. I do like intermediate-term trading, which means sometimes week after week I don't do anything at all. I may make 3-4 major moves a year. My goal is to outperform the SP500 by utilizing intermediate market timing. Things I do outside of this, ie short-term trades, take my focus off this goal and jeopardize the objective. Of course, doesn't mean I won't try it from time to time, but I understand the consequences.
- I was going through my list of monthly subscriptions. I figured I can save around $2000 a year by whittling down the list. It's kind of funny how $10 here and $20 there adds up. I never really looked at it close enough I guess. Everything automatically gets billed to the credit card and shows up as almost $200 a month that gets lumped in to everything else. I get used to paying off the credit card monthly and don't even consider some of the junk at the line-item level. Think about it. $2000 on stuff I can do without. Non-essentials. Just think, I could spend half of it at strip clubs during the year and still have $1000 left over!