Today’s session took most of us a bit of surprise. Although we expected a directional change fueled by a high volatility period the bulls managed to run the tape all the way into the close. So what’s going on? Where are we going from here? Are we still in for a sideways shake out?

One of the most important qualities of a successful trader is that of humility. It takes humility to accept the emotional impact of mistakes and plain old losses on a daily basis. We try to limit both as much as possible but we are not robots and no matter how Zen we think we are, a missed (winning) campaign or a few consecutive losses can out of the blue elicit emotions we thought we [...]

In a column in the Financial Times at the start of the week, former Treasury Secretary Lawrence Summers, whom the Obama Administration passed over to appoint Yellen, argued that it would be folly for the Fed to raise rates. Damn it – this is going to be a boring one again – alright you can do this – this is important, pull yourself together…. Now Ray Dalio, the manager of one of the world’s biggest hedge funds, Bridgewater Associates, has weighed in on the debate… what the fuck does he know…  arguing that the Fed, rather than tightening policy (that is, raising rates), might well end up easing instead—purchasing bonds and pumping money into the [...]