As a wise trader once told me, “Always understand the story behind the picture.”
Through the years we all see things happen that we never would have expected. My own history and the stops along the way is a reflection of that.I started my career at Bear Stearns (out of business). Moved to a NYSE specialist Adler Coleman (out of business). Went to trade commodity futures in the pits of COMEX and NYMEX (no more pits). Formed a Commodity Trading Advisor partnership, Experior (split up). Became a relationship manager at Mellon Bank (merged/bought). Most recently, I spent 6 years at Bloomberg LP. I think they’re in pretty good shape…
Beginning on the commodity floor, I became a student of charts. I came to believe that they were a way for a non-business major to figure out all the noise; that is, everyone else’s opinions of events are reflected in the charts. I realized, this was as much a study in Sociology as it was dependent on financial analysis. Everyone thinks the news is good, ‘it’ goes up. Everyone thinks the news is bad, ‘it’ goes down. Everyone is confused, we have sideways congestion, or mean reversion. It all resulted in a picture of those opinions.
For every buyer, we all know there is a seller. So, one person thinks higher, the other doesn’t. Who’s is right is the one that leaves with a profit. This blog is designed to examine both sides, and demonstrate how the smallest things can generate the biggest moves.
Thanks for reading!