Today Post::MARKET COMMENTARY (7-17-09)

A lot of people asked me how I caught the moves in HGSI and DRL yesterday. In case you are new, everything’s been documented in the previous post’s comments section as well as on my twitter. HGSI required a 1.5 month time frame to make the decision to buy right at the open. DRL, however, required only the previous day.

I bought HGSI at $2.84 and DRL at $2.219. I sold half of HGSI at $3.52, sold a quarter at $3.83, and I am currently keeping the remaining quarter. I sold half of DRL at $2.65, sold a quarter at $2.49/$2.50, and I am keeping the remaining quarter. This is typically how I scale out of positions as they run higher. Potential tops are determined at previous resistance areas on the daily chart.

Within 15 minutes, I recouped my entire CIT loss. I told you that I would go back in the green, didn’t I? I didn’t think it would be this quick. You can see the upper sym tri resistance on the 1.5 month chart of HGSI and how the open would have gapped completely above it. You can also see the high-and-tight flag on DRL the day before yesterday, the most reliable short-term long pattern in existence.

So, that’s how I did it. There are dozens of patterns that I look for that gap at precisely the right location at the right time. It’s all about grabbing your balls and executing the trade immediately at the open. There is no room for “thinking about it” as you are gauranteed to miss the initial move. As long as the setup is high probability, it’s a risk worth taking.

In the end, CIT failed to do damage to my portfolio. The more you don’t care, the more you are able to focus on making things right. I had no choice but to be more aggressive yesterday to quickly take advantage of these gains and contain the damage. Folks, I do this nearly every single day. It’s nothing new.

Imagine if you could bag a +20-30% gainer almost every single day? Welcome to my life.

Anyway, I’m thinking that the SPX pulls back to the 50-day support over the next few days. A breakout of the multi-month high would be an enormous victory for the bulls. It will confirm the possible continuation gap that was formed on Wednesday.

If you look at the COMP, you can see that the index actually made a new multi-month high. The pattern is extremely bullish on the daily. We can see a descending bear pennant and NOT a head and shoulders.

Today Post::Glenn Yeffeth: The Changing World Of Publishing - Blog Business Success Radio

Listen to Wayne Hurlbert on Blog Talk Radio

Publisher of BenBella Books, Inc. Glenn Yeffeth describes the major changes in the publishing industry that are taking place before our eyes. He also shares ideas about how business authors and authors in general are going from book to brand. He also discusses how entrepreneurs can benefit from putting their ideas into book form.

Glenn Yeffeth is my internet radio show guest on Blog Business Success; hosted live on Blog Talk Radio.

The show airs live on Thursday, July 16, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.

Publisher of BenBella Books, Inc. Glenn Yeffeth describes the major changes in the publishing industry that are taking place before our eyes. You will learn:

* How changes in the publishing industry are turning it upside down

* How the internet and technology are changing publishing forever

* How entrepreneurs can take advantage of these changes to write books

* How publishing and marketing of books will change in the future

Glenn Yeffeth (photo left) is Publisher of BenBella Books, Inc.. Before BenBella, Glenn was a corporate strategist and marketer who ran companies in Chicago, London and Dallas. BenBella Books, named after Glenn's children Benjamin and Isabella, was created in fit of hysterical optimism about the potential for an independent publisher in Dallas. Glenn has an MBA in Marketing and Finance from the University of Chicago and a BA in History from Oberlin College. He can be reached at glenn@benbellabooks.com.

Glenn Yeffeth has fifteen years of management consulting, then had a career reinvention as a book publisher at BenBella Books, Inc.. BenBella was formed to bring cutting-edge marketing and technology ideas to publishing. BenBella Books has a published a number of very successful titles, including runaway health and nutrition bestseller THE CHINA STUDY, pop culture phenomenon FINDING SERENITY and the blowout success THE OPTIMAL HEALTH REVOLUTION.

BenBella Books, Inc. is a publishing boutique that aims to be the publisher of choice for a select group of authors who value personal attention, a partnership philosophy, flexibility and a creative approach to marketing.

Glenn Yeffeth blogs at the BenBella Publishing Blog.

Listen live on Thursday at 8:00 pm Eastern, 5:00 pm Pacific time.

If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.

To call in questions for my guest, the number is: (347) 996-5832

Let’s talk with Publisher of BenBella Books, Inc. Glenn Yeffeth describes the major changes in the publishing industry that are taking place before our eyes. He also shares ideas about how business authors and authors in general are going from book to brand. He also discusses how entrepreneurs can benefit from putting their ideas into book form on Blog Business Success Radio.

Tags: Glenn Yeffeth, BenBella Books, publishing industry changes, Blog Business Success, Blog Talk Radio.