The first step to making better returns

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• 0:00Speaker 00

  Hey everybody, it's Michael Martin. Thanks for being here. Hey, so sorry about last week. I'm traveling and I have to do a lot of prep for this travel to see clients and prospective clients. So, next week or two is going to be kind of spotty in terms of producing videos. I haven't forgotten about you. I just have to set priorities. There's only so much time in the day. Today I want to talk about something that could benefit mostly investors. It's not really a trading thing. And that deals with, like, what happens when the market sells off? You know, right now it is 1:26 PM on Sunday the first. So you'll be seeing this tomorrow. All I can see is what happened through Friday's close.

• 0:42Speaker 00

  I can't see futures went open for a couple of hours. Basically, everything was down. VIX was up, crude oil was up, and so was coffee. Why? Well, because the markets got so destroyed, I guess speculators thought that people are going to be sitting around drinking a lot of coffee because they're not going to be doing a lot of trading. Anyway, you know, I've seen a lot over the years from having been an investor and a trader, and also from seeing, like, having allocated the majority of my money to other traders because I want my time back. You know what I mean? I'm not like many of you who want to learn how to do this and sit in front of the screen all day. I got other things going on and I've earned the right to buy back my time by allocating

• 1:26Speaker 00

  the money away so that I could do things that, you know, grow equity, for example, you know, build other companies. And you'll have those opportunities too. And you'll get to figure out when, what, and why and how it's appropriate for you to kind of, you know, move on, still keep your core competency. I still trade, but I just have given away, not given away, I've allocated away most of the money so that other people could run it. They have different sensibilities, you know, different tolerances for risk, and it's just better for me at this time. So I want to talk about what's happened in the marketplace, you know, the past week and that, you know, whenever you're thinking about, you know, putting money to work, there has to be a catalyst.

• 2:08Speaker 00

  And if, for those of you that are long only, you know, a big corrective move or a sell-off is not a catalyst to come join the market, you know? When Martin Buffett said that he didn't know any rich technicians, there was a wink involved, right? He was kind of putting you on. Because the technicians aren't just looking for the next bullish pattern or cup and handles and trend lines, they're using technical analysis to play superior defense. Your first job, even if you're hell-bent for election, to try to get, you know, big gains, is to always play superior defense, right? You're thinking, when you think of LT, you're thinking Lawrence Taylor, not LaDainian Tomlinson, who was a running back. Your job is always to play superior defense.

• 2:50Speaker 00

  And when you look at the chart, you have to find that, where is the asymmetry, right? If you're not naturally a short seller, or play the market short, either with puts or selling instruments short, there's times where you have to actually sit on your hands. There's always two things that work, right? Your emotions and your psychology, and then the tactics that you have. And it takes a while to get both. And despite what the marketers say, you can't just say, "Well, I'm going to trade through how I feel." Doesn't work that way. We've got million years of evolution, we've got fight-or-flight mechanisms built into us. And when the markets turn south and you're a bull, you have to remember that those lower

• 3:32Speaker 00

  prices don't mean better value, it just means lower market cap, right? Intel got destroyed. I stepped out, I'm going to show you that chart, because even a guy like me with 37 years of experience can get fantastically lucky. So I have to have integrity and show you where the luck is. You know, there's some skill for sure, but you need to know how to sidestep disasters. Right now, we have a market full of what I call fried green tomatoes. You know, you ever see that movie? I think it was a, who was that, Kathy Bates? Been a long time. Why do you think fried green tomatoes became a thing? It's because food was a shortage, people were hungry, and they couldn't wait.

• 4:16Speaker 00

  Their hunger could not withstand the amount of days, weeks, or whatever it was going to take for them to ripen. So they had to make do with what they have. In the Depression era, it was a substitute for meat, when there were harder economic times. So, we have that in the market. If you're a long-only purchaser of stocks and you don't buy puts or short-sell things, you put yourself in a perilous spot to try to think that there's value here because there's a lower price, and that you can get Intel at 60 when it was once 140. Because 60 might see 40 before it sees 140. And you don't want to be in a 50% drawdown in a blue-chip name because then you're really handcuffed to a corpse.

• 4:57Speaker 00

  It's very difficult to sell McDonald's when you're down 20% because it's McDonald's, and it's a brand that everybody knows. So you have to be super careful before you put this money to work. What you don't lose, you don't have to earn back, and that patience pays. Because at least you have the cash. So it's not just always about looking for the opportunity, right? You also have to think like, okay, what can I possibly make versus what can I lose? I know another trader, I can't remember who said it. It might have been Peter Brandt or Mark Minnavini who said like, "You could always lose 100% of what you put up despite, you know, how it's already behaved."

• 5:40Speaker 00

  So you're no more safer now at 60 than you were at 120 recently, right? So you have to be careful and you have to understand that sometimes these are fried green tomatoes, they're out of season, and you have to wait for them to ripen on the vine. Technical analysis can help you see where those trends are emerging. You have time. Don't worry about missing the opportunity, worry about how much you can lose. And again, if you can't see three or four or five to one on the chart in what you can make, then you have to sit on your hands and you have to wait. That's just the way it works. And I want to show you a couple of charts here. Give me a second, I want to share. You can see here that there was, in fact, a bit of a bloodbath.

• 6:24Speaker 00

  And as I mentioned, VIX was up, bonds were up, maybe flight to quality, crude was up because there's a couple wars going on, and of course, coffee because trading volumes will likely, you know, simmer down while people are, you know, going to the coffee pot watching the markets. I don't know, I'm being facetious. But if you scroll down here to the leaders, everything got blasted. Now, look at these, forget the dollar values, look at these percentages. Now, these charts are wrecked. Don't think like, "Oh my goodness, look at this move down, it's going to bounce." If you don't have skill, all right, as a scalper, it's not the time to become one

• 7:08Speaker 00

  because, as Gordon Gekko said, "A fool and their money are lucky to get together in the first place." Right? Which of course is a play on words because... The real saying is, "A fool and their money are soon parted." I don't want to see you lose money for reasons that you can absolutely avoid. Right? If you're not skilled in trading bounces, I wouldn't experiment, not with any particular size. If you want to try it with like, 1/10 of 1% risk unit, right? Which means you have 100,000 and you're going to risk 100 dollars. Buy 10 shares and risk 10 bucks a share? Yeah, try it that way then.

• 7:51Speaker 00

  But it's an expensive way to practice when you can do it and paper trade, right? You can put your paper trading skills to work and check it out that way. These charts now are wrecked for bullish patterns, which means they're going to need time. Right now, they're fried green tomatoes. You have to sit back and chill and let the markets kind of clean themselves up and correct themselves a little bit because right now, they're very, very damaged. Take a look here at the QQQ, right? Which is kind of like a benchmark for technology after we put in the high. So just, you know, what you're looking at, we have a color-coded volume histogram. So if the day was down, then the volume bar here was red.

• 8:35Speaker 00

  If the day was up, then it was green, and the lavender line is a 10-day simple moving average of the volume. And just as a rule of thumb, you can't really see volume. Volume does not equal liquidity, mind you. But you can't, and you can't oftentimes see all of the volume until the end of the day, especially since like the two most liquid times of the day are at the open and at the close, like the last 15 minutes. So the volume indicators, if they're going to help you, are going to have to be kind of like at the close. And what you're looking for is approximately 125-ish percent, right? Of the average on days where there are key inflection points, right?

• 9:19Speaker 00

  So you can kind of see here, on this day, there was almost 100 million shares on an average of about 42 million. So that's a 2X on a big down day. Now, it doesn't mean that the thing didn't bounce, but look what happened. The high failed, it sold off again, the trend line, this is a 20-day exponential moving average, which you can think of as a dynamic trend line. It rallied up, sold off again, rallied up, but now a lower high, sold off, lower highs. In other words, this was the shot over the bow that said, "The beautiful move here where you could have been not just long, but levered long, is over." And it was over in a big way. I can't even remember, this goes back to June 5th, what the hell happened? But nonetheless, it happened.

• 10:03Speaker 00

  And easy money was over. So you have to be able to interpret these things outside of what your individual instrument trading rules are. If you're buying, you know, whatever, 10-day highs and selling 5-day lows, doesn't matter to me what your rules are, you have to understand what environment you're looking at. And if you don't believe me or why you think that's important, if you look up to someone like Jim Simons and Renaissance, rest his soul, they know what regime every instrument is in. And they bet accordingly, based on what that regime is in. You know, based on what that regime is. Right? So here we put in a high, a new 52-week high, but if you notice, all these up days were

• 10:47Speaker 00

  lower than average volume. So that should give you a moment of pause to say, "Okay, who is doing this?" If the institutions are showing up, they don't step in with 50,000 shares, which might be a monster order for you. They have billions and billions of dollars. And your job is to be the mouse that's tap dancing in between the feet of these big elephants because they're the ones who move the markets. And the last thing you want to do is get caught being long something when they're dumping shares because there is never going to be enough retail buying that will provide buoyancy for the particular name. Doesn't matter what the name is. It could be the bluest of blue chips.

• 11:29Speaker 00

  You're going to get steamrolled. So you have to have your protective orders in the market beforehand. Now, Intel had given you plenty, well, this market here has given you plenty of indicators that the easy money was over. Right? This market failed. It put in a high with no volume, and then the biggest volume day down. Look at that. It was about 150%, right? Yeah. If you look at the red, about 50 million shares against 32.6 million. So that, you know, that right there tells you, okay, the sellers are in control.

• 12:11Speaker 00

  It's hard to be long something when the sellers are in control. You're better off getting out and waiting to get back in when the other buyers are going to be there to help you. You all want to be on the same field at the same time. Waiting for the cavalry to come is a quick way to lose a lot of money. And trust me, when I tell you, I've perfected that. So then look at the follow-through. This is the 20-day exponential moving average, which I kind of look at just to give me an idea of where is the trend. Here, there's zero slope, so there's no trend. Up trend, zero slope, right? So the couple of days to get out, any one of these days. And then here, when it takes it out and closes, look at all this above-average volume on down days.

• 12:55Speaker 00

  So you've had so much opportunity to get out. Besides the fact that you might say, okay, I'm in at whatever these prices are, I'm only going to risk 10 bucks. I don't care that the index itself is based on quality. You have to protect your cash because you don't know how long the sell-off is going to last. I didn't know how long this move was going to last. It's difficult to predict both the magnitude and the duration. That's why a lot of people scale out of the winners and trail with a piece just to have it on for posterity. So it does two things. One is, it keeps you in the trade for as long as possible. Also, it helps you overcome regret, which is part of it.

• 13:39Speaker 00

  And every trader, from here to the top, top traders of the world, who are all, you know, names that you would know, they all look back and do a post-mortem and say, I got in too late, I got in too soon, I should have gotten out here. It's just the natural order of things to do that kind of analysis. And so now we have this thing, the instrument is below the moving average, so you want to sell as it rallies up. Any type of rally up to the trend line is a very low-risk short. Now we're kind of oversold, so yes, it might rally, but we've taken out support, it might rally up to the trend line, at which case, that doesn't mean it's a buy. It's actually a low-risk short. Right now, it's a little overextended.

• 14:23Speaker 00

  Here, this is one day. This is a swing low at best. There is no support. So you're looking at the QQQ, which for me is the 6... The next stop here on this train is 640. This is a 640 train to hell. Now, it could go up and down, and there might be enough volatility, but if you're an investor, this is not the time to be buying on dips. You got to sit on your hands and let this market sort itself out. Let it consolidate. Let all the institutions get the selling out of their chart. I mean, get out of their system. Earnings are coming up, right? And we don't know how long that's going to last and what the other companies are going to do. The disappointing news for Intel really put a scare in the markets, right?

• 15:07Speaker 00

  As evidenced by the fact that these are down... Where are these names? I always got to repopulate. These names are down in sympathy, right? They all got sold off in sympathy. Right? So look at some of these names. 5%, 13. These are, this is corrective moves. This is beyond a little bit of a sell-off. So you've got to be super careful. Let the selling wash out. These are big-volume sell-offs. Here's a little history lesson that I want to go over too, and something that I lived through, and I think it's worth talking about. So this is for investors, not for traders.

• 15:48Speaker 00

  If you look at Invesco, they launched the QQQ in March of 99 at 50 bucks a share. A year later, it was at 120. It more than doubled. If you were around those times and you were an investor and/or a financial advisor like I was, you couldn't talk to people about muni bonds, you couldn't talk to them about value. The internet was going to change things, and you had to be a complete idiot if you didn't sell your dead grandmother's ashes on the mantle to monetize it, to turn it into shares of CMGI, Verticalnet, CBOO Systems, Cisco, JDS Uniphase, Global Crossing, ICGE

• 16:29Speaker 00

  or whatever it was called, Internet Capital Group, new name, and the list goes on. And they were all companies that were going to change the world. Now, some of them did. Did the internet change things, for sure. But you can't let the rhetoric, right? And this happens in political parties too. It's rhetoric and symbolism. You might buy into the story that AI and crypto are going to change the world. They already have a little bit, and they're probably going to continue to do so with an order of magnitude or who knows what. But that doesn't mean for two seconds that you can make money at it. Those are two completely different things. You understand? So when you're looking at charts, you have to understand that so much of trading is

• 17:14Speaker 00

  being in the right place at the right time. And if you look at what happened here, the market put in a high in March of 2000, and it took 16 years to come back to that level. That's December of 2016. Losses for the investors listening still are not felt symmetrically across age groups. If you're 30 years old in here in 2000, right? You were 46 in 2016. You're 56 now. Glad you made it this far. So you had 16 years. You were contributing to your 401K, hopefully.

• 17:59Speaker 00

  When the Roth came, you're going to put in money in that as well. Even if you can't take the write-off against your income, it's always beneficial to put money into a tax-deferred vehicle, even if you can't get the current year, you know, not the write-off, but the deduction in your AGI. So the technical analysis here would have helped you sidestep this abortion, because look what happened. We had 120 and 120.50 as the high. The low was basically 20 bucks. 1976. All right? That's an 83, whatever that is, 84% pullback, doing the math, 5/6 pullback, okay? In 18 months.

• 18:41Speaker 00

  Or was it two and a half years? Yeah. Anyway, it just goes to show you how far this thing can come. Nobody on planet Earth was telling you that this market was going to come back 80%, 90%. Not a soul. So if you're 50 years old, you're 66 by the time the thing comes back, and you're thinking about making for a balanced portfolio. I've read the studies about human behavior. You know what the average hold is for a mutual fund? Even for people who consider that, like my retirement, my sleep type money, do you want to guess what it is in years?

• 19:25Speaker 00

  What is the average hold when people buy a mutual fund? Now, granted, this is an ETF. Sorry, I have trouble trying to get the data for this. It's about four and a half years. And what happens is, when you don't have a plan and something languishes for four and a half years, you get so sick of seeing it, what do you think you want to do? Yes, you want to sell it just to get the hell off your screen. And now you're selling it, you know, maybe at par. So you watch the thing rip up and come back, and this whole round trip, you made no money. If you're 50, 60, 70 years old, that 70-year-old person is now 86 years old, and they're only back to the break-even of where that previous high was.

• 20:07Speaker 00

  The opportunity cost is too large for you to hang on to, you know, be handcuffed to a corpse. So the moral of the story is that, yes, the technology here would have helped you sidestep a massive drawdown and told you when the selling was over. At least it can show you objectively when the thing is in an uptrend. Right? You typically don't, unless you're as skilled as a trader and have a phenomenal sense of timing, you use the technical analysis so that you can play better defense. What you don't lose, you don't have to earn back. You see? And my job here, the way I see it, is to help you save money, is to help you understand

• 20:52Speaker 00

  risk. Diversification, right? They say it's the only free lunch in town. Who's that? Milton Friedman? But you have to understand, like, that's not a panacea. Diversification is risk reduction, right? We all know the boring stories about, don't put your eggs in one basket. So that when economic news hits the tape, your instruments scramble. They don't all go in the same direction, in the same magnitude, on the same day. Right? And if you have something that is winning, yes, you're not going to make as much as possible, because you have, some of that money is allocated in, or some of all of your money, right, is allocated to other instruments.

• 21:33Speaker 00

  But in the same breath, when someone craps the bed, you're going to lose, but you're not going to lose everything. Why? Well, because you were smart enough to have the money divvied up. So you kind of have to figure, like, okay, what's my average return across these? The blend. The blend is the thing. So the rhetoric today is about how AI and crypto, crypto, whatever you want to call it, is going to, you know, change the world. And it's already underfoot, but that doesn't mean, like, again, this was at the height of the internet. And look what happened. So you have to be mindful that the things that you might be madly in love with right now may not be the wave to surf.

• 22:16Speaker 00

  Because nobody, like I said, could predict that the QQQ was going to go into an 85% drawdown magnitude-wise that was going to last 16 years. You don't know ahead of time what names you're emotionally connected to. You can't let your emotional connection to something or to the rhetoric blind you. You see?

• 22:42Speaker 00

  ¿Qué es la frase? La lealtad, por cualquier definición, es una abdicación del juicio.

• 22:49Speaker 00

  ¿Verdad? Así que tienes que ser promiscuous en este sentido y pensar como si yo tuviera que salvarme a mí mismo. Puede que se opida a lo que son tus instintos naturales, pero no puedes ser leal a nada, porque no tienes el tiempo. Si tienes 30 años y estás contribuyendo, ya sabes, a un 401K y tienes deducciones automáticas de pago, sin dudas. Pero deja que el gráfico te ayude a saltar el gran hito y luego, incluso si entras... Mira, esto fue 20 dólares. Hombre, incluso si entras aquí a 40, ¿verdad?, o 50 después de que se ponga el mínimo, ahora tu dinero está haciendo dinero para ti. No estás sentado a través de esto de la mierda aquí. ¿Verdad?

• 23:32Speaker 00

  Pienso y espero. El dinero tiene valor en el tiempo. Ese es el aspecto número uno de la finanza o la microeconomía aplicada. El dinero tiene valor en el tiempo. Estás mejor si tienes... Incluso si saliste a 100, digamos que dejas que la cosa se retorne a 20 dólares, te detuvieron a 100. Doblaste tu dinero después de la IPO, saltaste un 80% de la reducción. Así que ahora tenías todos esos 100, billetes de 100 dólares frescos para volver y podrías comprar cinco veces más acciones. Ahora, obviamente, no vas a poder elegir el fondo, pero el punto es que vas a ser capaz de realocar esos fondos y minimizar los costos de oportunidad. Ahora, en mi caso, para la intradición de Intel, me gané algo de dinero, pero no...

• 24:16Speaker 00

  Para mí fue un fracaso. Y déjame explicar por qué. Tienes una copa profunda y un tipo de control aquí donde entré y se estalló. Mi pensamiento fue como, está bien, si consolida como 125, 130, voy a... Se hará una base en el subtren de la segunda fase, ese es el régimen, y voy a agregar más a medida que empiece a hacer nuevos altos.

• 24:38Speaker 00

  Este número no fue aleatorio para mí. Este 142, 35 es el alto histórico. Así que mi objetivo fue tener una pieza en 109, tener que saltar hasta aquí, consolidar, agregar a mi ganador, tal vez doble mi posición cuando lleguemos a... Ver la acción de precio en el alto histórico y luego hacer una de dos cosas, sin orden particular, intercambiar el stock todo el trading, realizar los ganos. Sí, sé que es el final del año de impuestos, pero quiero el dinero en mi cuenta y intercambiar eso por una opción de llamada de cuatro, cinco, seis meses.

• 25:12Speaker 00

  ¿Verdad? Así que la analogía podría estar en tu cabeza si te retiras 50K en ganancias de trading. Toma 10.000 de eso para opciones de opción de más de seis meses. Toma 40K de la transacción, pones 10K de vuelta al trabajo y ahora sabes que el peor caso es que vas a perder 10K en las opciones de llamada.

• 25:32Speaker 00

  Dios tenía otros planes. El mercado se vio y cuando se estalló y volvió aquí, lo que quería ver fue un verdadero desafío. ¿Verdad? Mira este volumen por encima del promedio. Solo lo que quieres ver en una campaña que está comenzando. Pero aquí, mira, se detuvo, todo está por debajo del volumen promedio. Y eso es exactamente lo que no quieres.

• 25:54Speaker 00

  Así que me detuvieron en este día en particular. Es un día de reversión. Es típico boom y caída. Sabes, boom, vende de los estallones, pero no se vuelve a volver y luego todo se desmoronó. Ahora, punto de orden. ¿Tengo alguna idea de que esto no iba a cortar y rastrear o que podría haber saltado el día siguiente y quitado 130 o que iba a vender incluso aquí hasta 85? No tenía ni idea de ninguno de ellos. Todo es posible para mí, pero el punto es que estoy manejando el riesgo. Así que, ¿fui inteligente? Fui inteligente aquí. Fui afortunado de que salté y no me enamoré del hecho de que es Intel y están en el negocio con el gobierno y bla, bla, bla, bla, bla.

• 26:38Speaker 00

  Así que tienes que tomar el que es finito y confiar en lo que estás viendo en la tape. ¿Verdad? Es solo... Es buena suerte. Pero este es un fracaso justo aquí. Este día rojo aquí, ¿qué fue eso? Fue hace un mes. Un mes atrás... Bueno, ahora estás viendo esto el 2 de noviembre, así que fue hace un mes hoy para ti. Este es el domingo para mí. ¿Verdad? Pero este fracaso te dice mucho porque quieres eso... Porque el dicen que era verde en un momento. Estás como, está bien, quiero estar en ese vecindario. Quiero desafiar estos altos y luego quiero ver el volumen pasar al final. Así que cuando empieza a filtrar, no es que esté temido de perder dinero en absoluto. Estoy como, este es el comportamiento incorrecto para la estrategia que tengo.

• 27:23Speaker 00

  Así que es incorrecto para mí estar en esto. Lo que sea dinero que he ganado, creo que he ganado en este punto. Quería verlo ir a 130, consolidar, habría agregado a mi ganador. Habría visto en 140 y luego, dependiendo de la acción de precio, como dije, probablemente habría intercambiado el stock por una opción y quedado con él porque las acciones no llegan típicamente a los altos históricos aleatoriamente. Generalmente hay algo bueno al respecto. ¿Ves? Pero no estaba destinado a ser. Así que dije, está bien, bueno, si esto se está volviendo más débil, no necesito mantener el stock cuando se vuelve más débil. Simplemente no. Y luego, honestamente, saltar todo esto y luego la capitulación del viernes es solo suerte tonta.

• 28:08Speaker 00

  Pero es por eso que no puedes ser sombrío por la blanca de cualquier cosa.

• 28:14Speaker 00

  ¿Verdad? Porque piensa en ello. Si estoy haciendo estos videos para ti y estoy como, sí, todavía estoy atrapado en esto ahora, no tengo credibilidad.

• 28:22Speaker 00

  Porque no puedes decir nada de reputación malo sobre Intel.

• 28:28Speaker 00

  Y si pierdes el sentido del juicio como, oh, es Intel, volverá. Bueno, tal vez sí, tal vez no, pero tienes que entender que solo cuando salí, eso fue... Bueno, fue un 100% de antes.

• 28:43Speaker 00

  Ahora, estás como, está bien, bueno, llenó el vacío. No siempre creo que los huecos tienen que llenarse, así que no sé si va a salir este estallido aquí. Mi suposición es... No enseguida porque ahora todo el mundo está en la hora y nadie confía en los semifinals. Y si miras esto, ¿dónde está el siguiente nivel de apoyo? Este es un alto de giro. Son 50 dólares. Así que todavía podrías perder, ya sabes, otra 15 dólares de una acción y luego algo. ¿Quién sabe si no comienza a negociar 40, 50? Quiero decir, Dios mío. No sé. Quiero decir, no puedo hacer estos suposiciones, pero, ya sabes, todavía podrías perder otro 25%. Eso significa que si esto vuelve a 50,

• 29:28Speaker 00

  ¿verdad?, necesitas ver un retorno del 30% para volver aquí. ¿Por qué pondrías ese tipo de presión sobre ti mismo? Así que, de nuevo, compra 10 acciones y riscas 10 dólares para que no haga daño duradero a tu portfolio. Si quieres intentar aprender a manejar o ser inteligente. ¿Ves? He dejado de sentir ese sentimiento. No estoy tratando de probar nada. Mi trabajo es proteger mi dinero. Este mercado es débil. Si no transactas hasta el próximo de enero, está bien conmigo. No tienes nada para probar. Lo mejor que puedes hacer en ciertas circunstancias como esta es... Para... Ya sabes, sentarte en tus manos, ¿verdad? Sentarse en tus manos es bueno. Puedes observar, puedes observar cosas.

• 30:10Speaker 00

  Y si tomas riesgos aquí, asegúrate de que son fracciones de lo que es tu riesgo normal. Siempre podrías comprar en precios más altos. Comprar alto y vender alto, me gusta decir. No te preocupes por, ya sabes, lo que pasa o que hay algún tipo de valor. Tienes... Como estadounidenses, porque el país está construido sobre el consumismo, es difícil no tener esa, perdón la expresión, respuesta de cabello que se despierta al ver un precio inferior y pensando como, tengo que entrar ahora. Pero... No sabes, ni yo. 65 en Intel podría ser 40, pero antes de que vuelva a, ya sabes, 75 o lo que sea.

• 30:49Speaker 00

  Esa historia se ha elevado. El nivel de confianza no está ahí. Es como un X que te está engañando. Una vez que ese plástico salga del tubo, es difícil recuperar la confianza. Ahí es donde está Intel ahora y, desafortunadamente, es como si tuvieras un hermano malo, reduce la reputación de la familia en muchos sentidos. No es justo necesariamente. Así es como piensan las personas. Así que sé muy, muy cuidado si piensas que vas a entrar y encontrar oportunidad cuando las cosas están en una tendencia de caída. Tu trabajo es jugar defensa superior y comprar en los mercados desmoronados, para mí, es una forma más rápida de perder dinero, ya sabes, que no. Así que, de todos modos, siempre estoy interesado en tus comentarios.

• 31:31Speaker 00

  Estas cosas salen principalmente de emails que vienen y comentarios en los videos y trato de hablar con ellos para que tengamos este tipo de lecciones continuas, ya sabes, que están llegando. Así que aprecio a todos los que están viendo. La mitad de ustedes no se suscriben, así que por favor, dale me gusta y suscríbete si te gusta esto. Hay un montón de videos aquí, varios cientos de ellos que hablan de la mentalidad de trader, ya sabes, inteligencia emocional, psicología de trader y, ya sabes, hay un poco de cómo hacer también. El cómo hacer para mí es la parte fácil. La parte de la mentalidad es la parte más difícil porque tenemos que luchar nosotros mismos hasta que aprendamos a lidiar con nuestros sentimientos alrededor de ser correcto y incorrecto y sobre ganar y perder dinero. Voy a viajar, como dije, la mayor parte del mes de noviembre

• 32:16Speaker 00

  y típicamente tomo el diciembre despejado históricamente, así que puede ser espontáneo en términos de los números de videos que hago. Estoy, ya sabes, en la carretera y tengo que prepararme para esas reuniones. El tiempo tiene que venir de algún lugar. Pero si escribes o haces comentarios, definitivamente miraré y asegurarme de volver a ti lo más rápido posible. Como siempre, aprecio que estéis aquí y nos vemos la próxima.