The Controlling Price Factor

The distinction/difference between supply and demand has been the controlling price factor throughout the ages of mankind. Only the medium of exchange has been different. If we have something that no one wants, we call it worthless; if everybody wants it we call it priceless. This is the law of supply and demand.

Following your Intuition-Jesse Livermore

Reminisciences of a Stock Operator, by by Edwin Lefevre, is one of the 5 recommended Floydian reads. This is the story of Jesse Livermore, the famed 1920's and 1930's stock market investor that "owned" the stock market.

Trader Noam from Israel, in our Level 3 service at www.oexoptions.com just gave a review:

"Hello Floyd,

I wanted to tell you that the reminiscences book which

I'm currently reading is really excellent and interesting.

Also, I just got to the part about his mysterious hunches

(not yet read it, but the preceding paragraph on p. 77-78

in the illustrated book) - and it is exactly what I have many times:

I suddenly get an uneasy feeling (intuition) that I should

immediately sell and this feeling is 99% true, though not based

on any logic, and it occurs mostly while watching a chart but

sometimes, surprisingly, while I'm doing something completely unrelated,

and the chart isn't even open, so I rush to open the chart and

have an even stronger feeling that I must act quickly.

If I hesitate for even a few seconds than the position starts

running against me, and in the end I miss a great opportunity.

Noam"

Follow your instincts. Know your gut. Know the difference between your gut and your emotion; they are distinctly opposite.