Keeping it Real

by Larry Levin


I had a good laugh this afternoon when I read an email from one of our regular readers. He wondered why I "keep sending out this stuff when the market is going up and the pros are cleaning up?" (Loosely quoted) What I infer from this comment is "why aren't you sending out love notes about the super-good extra special bull market?" "Why aren't you telling me to buy, buy, BUY like so many shills?" "Why aren't you on board with this rally?"

I am on board with this rally. I am telling people to buy. And I do send love notes about the market...in Notes from the Pit. How could our results be so good if we were fighting the trend? What's my motto? "Trade well and follow the trend, not the so-called 'experts.'" If the market is going up on an intra-day basis, I'm a buyer.

By sharing with you on a daily basis what is happening just under the surface in our economy, what the perma-bulls don't want you to know, I'm just "keeping it real."

Another e-mail about a week ago wondered why he should listen to me; wasn't I one of the "so-called experts" he wondered? I had a good laugh at that notion too. Remember folks, I'm just a successful trader who trades HIS OWN MONEY (doesn't gamble with client cash) and doesn't associate with the in-crowd in the New York financial circle. I do not gamble hundreds of billions of your dollars on ridiculous sub-prime-type securities because I know with a few calls I can get Congress to cover my losses with MORE of your money.

No - I'm not one of the "so-called experts;" I'm one of you and I'm keeping it real. Can you handle it?



Previous Day's Trading Room Results:

Trade Date: 9/17/09

E-Mini S&P Trades*
(before fees and commissions):

1) VA buy @ 8:42am at 1063.25 = b/e & +1.50 (2 lot)

2) VA sell @ 2:34pm at 1063.00 = +.50, +1.00, +1.75 (3 lot)

3) Algorithm positions (22)

4) "Reading the Tape" positions (32) ...combined Secret's, Algo, & "Reading the Tape" total...+34.00


Electronic (YM) Mini-Dow:

1) None today



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