The SPX is on the verge of breaking out, and it must break the June peak and close above it. The continuation gap from last week is doing what the textbook says. I don’t really care what the market does since I find plays that move up regardless of market direction. However, I do believe a pullback coming as it is necessary and healthy for the rally to continue.
Evey sector is either bullish or neutral:
I made a solid 1% yesterday. My multiple double-digit gains in HEB and SQNM did the job as I was about halfway through Season 5 of Lost. I’ve stressed the importance of careful selection many, many times. You will do well if you find stocks that move, regardless of what the general market is doing. Stocks, with minds of their own, can be your best friends as I’ve demonstrated time and time again.
The SPX is still testing the mid-June peak. In fact, there is so much strength that followed the continuation gap that it is just too dangerous to short. Shorting during a countertrend move is fine, but missing out on the primary trend is not. Unless you have exceptional timing skills, it’s best to stick with imminent breakout or breakdown (if short) plays that make your life so much easier. On some days, I don’t even bother keeping the SPY chart up because I don’t need it.
The COMP is the first and only index that is trying to fill the early Oct gap. Note the boundaries in orange. We can expect significant resistance at this level, primarily because LT breakaway gap downs have a tendency to! reject initial attempts.
Finally, I look to the world indices so get a feel for how the rest of the world is doing. I charted the Japanese Nikkei, Hong Kong Hang Seng, S. Korean Kospi, German Dax, French Cac, and the London FTSE. I especially like the neutral range breakout executed by the Kospi.
Cultivating the Right Attitude to Thrive in Tough Times
By: Rajesh Setty
Published: May 1, 2009
ISBN-13: 9781935073031
Format: Paperback, 96 pp
Publisher: Ashoka Books
“The easiest way to get out of mediocrity is to set higher standards for yourself”, writes entrepreneur and thought leader Rajesh Setty in his perceptive and inspirational book Upbeat: Cultivating the Right Attitude to Thrive in Tough Times. While acknowledging the recession, the author points out that many other business people just think about surviving the economic downturn. Instead, this book encourages business people to thrive in any economy, through a combination of attitude, strategy, and positive action.
Rajesh Setty recognizes the trap that business people can fall into regarding a sagging economy. Conversations tend to emphasize the negative aspects of the business climate, and overlook the opportunities that arise as a direct result of those economic forces. As a result, the author stresses the importance of replacing self defeating and negative talk with a flexible examination of what is really happening in the economy. While competitors are cutting back, the author reminds business people of that developing a strategy that enhances strengths and removes outmoded concepts, can deliver profitable results.
Rajesh Setty (photo left) doesn’t simply suggest platitudes in his book, but builds on positive attitude adjustments with practical and actionable ideas. By applying such well known and proven techniques as building on the strengths and skills of one’s own network, that powerful improvements to the business can take place. The author recognizes that one of the simplest and most ignored principles is that of tenacity. Merely by developing a flexible, yet workable strategy, and sticking with it, a company can succeed where others fail. All too often, people give up and quit, just at the edge of their greatest success.
For me, the power of this compact, yet important book is the blending of keeping a positive attitude with developing and seeing through a powerful business strategy. While the focus of the book is thriving in a recession, the same principles can propel a business to higher profits and industry leadership in a growing economy. More than a mere positive thinking book, Rajesh Setty has created a positive action book, that can transform any business person into a successful one. At the same time, the book will turn a lackluster company into a force in the marketplace.
I highly recommend the inspiring Upbeat: Cultivating the Right Attitude to Thrive in Tough Times by Rajesh Setty, to any business person who is experiencing personal doubts, or a loss of confidence in their company. A recession is never easy for business success, but with the right viewpoint and flexible attitude, great business opportunities can be discovered and turned into profit centers.
Read the short but powerful and life changing book Upbeat: Cultivating the Right Attitude to Thrive in Tough Times by Rajesh Setty, and turn those negative conversations into positive action. This recession may hold more business opportunities than you ever dreamed possible. The book will help you develop a winning strategy in this and any economy.
Tags: Upbeat: Cultivating the Right Attitude to Thrive in Tough Times, Rajesh Setty, positive attitude, business book reviews.
