weak at the EOD

End of day shows weakness in TNA. I have been out for 15 mins but the down ticks kept coming. Price has closed at $56.62 though, only 4 cents lower than where I exited. You'll notice on this as well as my 3:30pm chart from earlier that there is a blue line two hours in length from 12:40 pm to 2:40pm denoting an important level to pay attention to. Isn't it interesting that price actually came down to that point and reversed in the last 5 minutes of the day?

One of the most important discoveries last Autumn as I watched the markets was how critical it is to think in terms of price levels first, before considering trendlines, triangles, and most definitely before indicators/oscillators. It is true that all one needs is price, volume and a minimalist approach to do this. I am not where I need to be, but I am on the right path.

Most of what I need to do is get my head right. Emotional awareness and balance is the first thing on my mind and has been for months, since getting a wake-up call when I posted a comment to the SMB Blog. Mike Bellafiore printed my comment and responded, as well as having the trading psychologist he favors, Dr. Andrew Menaker, answer my post too. Wow, did I get the answer I needed! Since then, it has been slow progress for me. I bought Quint Tatro's book. Then my watershed moment was purchasing Michael Martin's book, "The Inner Voice of Trading." I began exercising with intention; 45 mins of fast walking per day. Then in late January, I added strength training. Both are doing wonders for my head. I feel better physically, with the strength training has stabilized a slight rotator cuff tear from many years ago. I listen to positive affirmations and visualization cd's while doing my treadmill walk. Some times I hold the bars and will get lost in my head. I'll snap out of my "trance" and realize I've completed nearly an hour of cardio. I am now in as good shape physically as when I was a track and field athlete in high school! Mentally, I have never been as strong. For the first time in my life, I have tools to use to understand my thoughts and feelings and I recognize when I need to use them. I am thrilled at where I might be in two or five years with this new approach to life.

I started my new book, "The Power of Habit" over the weekend. I didn't get far because it is tax time and that miserable task coupled with the Easter celebration we hosted kept me away from the book. My sense is that I'll get into it deeper after tax day, April 17th.

I am a fan of Groupon and late last week purchased from them a discounted pass for 15 Yoga visits at a reputable studio. It will be my first try at Yoga. I'm not sure what to expect, but the owner of the studio has recommended I go first to a Wednesday beginners' class, so perhaps in a couple days I'll be able to begin this next step in my journey from bluecollar guy to trading stocks for a living.