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What kind of person you are “outside the charts” will help determine what kind of trader you will be “inside the charts”.

If you are of the first kind, “the wills”,  you will overcome all the obstacles on your way to consistent success.  You will accept, even embrace, uncertainty as the driving force behind the next big opportunity for gain.  You will lose gracefully and move on to the next trade, knowing that trading is a game of probabilities and possibilities; not certainties and absolutes.  You will leave money on the table, thankful for what you were able to gain; not bitter by what was left.  If you are of the first kind you will succeed. You will indeed.

If you are of the second kind, “the won’ts”, you will look for the always elusive easy road to riches.  You won’t believe in the effort required to become a disciplined trader, driven by solid habits repeated daily. You won’t apply the skill necessary for managing risk as that would require planning and preparation, something you just do not have time for.   You won’t develop your own well defined trading edge, depending instead upon others to do it for you. If you are of the second kind your opposition to anything other than what is easy will make it quite difficult to succeed when times get tough, and they will but you won’t.

If you are of the third kind, “the can’ts”,  you will blame everyone and everything for your failures.  You can’t succeed because you are too busy finding fault in any trading strategy that produces a loss.  You can’t succeed because anyone who does so has some special knowledge or gift that you obviously cannot possess.  You can’t succeed because the market is rigged.  If you are of the third kind…quit. You are a quitter with a quitter’s attitude.  Be in the majority. Be a can’t. It’s easy.

So, what kind of person (trader) are you?

US coronavirus – Texas new cases up by more than 10,000 in just one day

+10,028 which brings the total to 210,585

More than 10K in a day is a new record increase for the state. Some of this is due to the 3 day weekend, numbers still catching up from the long break. Even with the catch up out of 57,558 test performed the positives come in over 10K. This is a stunningly high positive rate, indicates testing is not nearly sufficient and that the actual number of cases out there is much, much higher.
More records broken in Texas also today:
  • 60 deaths recorded, new record high for a day. Death toll above 2,700 now.
  • hospitalisations have hit a new record high at 9,286 (9th day in a row of record hospitalisations), up 588 from the previous day
trump coronavirus

US major indices close lower across the board. S&P and NASDAQ break winning streak

5 day winning streak is over

The US major indices are closing lower across the board. The declines are led by the Dow industrial average. However the S&P index and NASDAQ index also fell smartly.

  • The Dow industrial average did not trade positive on the day.
  • The NASDAQ index traded up over 85 points. The index is ending down around -90 points.
  • S&P index and NASDAQ index snapped a five-day winning streak
  • Major indices closed near session lows
The final numbers are showing
  • S&P index -34.4 points or -1.08% at 3145.32
  • NASDAQ index -89.759 points or -0.86% at 10343.85
  • Dow industrial average -396.85 points or -1.51% at 25890.18
5 day winning streak is over_Some of the biggest losers today include:
  • United Airlines, -7.47% (ironically a 747)
  • lift -6.83%
  • Delta Air Lines -4.99%
  • Boeing -4.78%
  • under armor, -4.44%
  • Wells Fargo -4.0%
  • Goldman Sachs -3.89%
  • Southwest Airlines -3.73%
  • American Express -3.70%
  • micron -3.55%
  • PNC financial, -3.55%
Winners today included:
  • Walmart, +6.79%
  • square, +5.57%
  • Phillip Morris, +3.31%
  • Twitter, +1.98%
  • chewy +1.85%
  • Costco, +1.54%
  • Fed express, +1.5%
  • Tesla, +1.32%
  • General Mills, +1.25%
  • Uber, +0.98%
  • Procter & Gamble, +0.44%
  • Bristol-Myers Squibb’s, +0.18%

European shares end the session mostly lower

UK FTSE 100 the weakest. Portugal’s PSI 20 strongest

The major European indices are ending the session mostly lower. The UK FTSE 100 was the weakest of the major indices. The Portuguese PSI 120 was the strongest.  Italy’s FTSE MIB was unchanged.

The final numbers are showing:
  • German DAX, -0.92%
  • France’s CAC, -0.66%
  • UK’s FTSE 100, -1.46%
  • Spain’s Ibex, -1.27%
  • Italy’s FTSE MIB unchanged
  • Portugal’s PSI 120+0.89%
Below are the percentage changes including the percentage high and percentage low ranges for the trading day today.
UK FTSE 100 the weakest. Portugal's PSI 20 strongest_In the US market, the NASDAQ index remains higher. The S&P index did move into the black briefly, but the Dow industrial average remains negative on the day at -0.69%. The S&P index and NASDAQ index are on a 5 day winning streak.
In the European debt market, the benchmark 10 year yields are mixed/mostly lower. German yields rose 0.4 basis points. France 10 year yields are unchanged. The rest of the major countries saw yields decline with Italy down -3.6 basis points on the day.
European benchmark yields
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