11-Jan

The animal spirits are returning to the stock market – contrarians beware!

(speaking of contrarians, please see a discussion of the best book on Contrary Opinion Theory in our blog. At * a copy it is a pretty safe investment :-)Dear Spikers and SpikeTrade Members,Hello and best wishes from New York. Kerry has just arrived here - to spend a few days working together, to have his 'sushi fix', attend a campers' meeting, and then to fly down to the Caribbean for some pain & suffering in the 2009 Traders' Camp.Congratulations to the group on completing a very successful week. The 88% success ratio was awesome. We also must tip our hat to high-performing SpikeTrade members. Every week they participate by sending in a volunteer pick, they earn an $3 credit towards membership renewal - or $20 credit if their pick beats the Bronze Spike pick for that week. Two members scored $20 last week - Pat L and Steve M. Congratulations to all!"There is many a slip between a cup and the lip" - I first heard this phrase in my 20s'. Someone said it to me soon after I discovered the stock market. What brought it to mind today was my performance - or rather non-performance - on my favorite Spike pick for the previous week. As last Sunday went on, I kept turning over Spike picks and decided I liked Susie's 'short QSII' best. I spelled out a trading plan for myself and e-mailed it to Susie. I should have sent it to Mr Market instead! I had a fairly elaborate entry plan, but Mr Market did not know that - it went down from the opening. The missed opportunity rankled me so much that I recorded a video about it - 'the one that's got away' - and posted it on our (free) blog. Take a look and post a comment if you like!What's next on the market's agenda? Bet on the bull or the bear?

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