Editor's Note: Gary B. Smith's column runs exclusively on RealMoney.com; this is a special free look at his column. For a free trial subscription to RealMoney.com, click here. This article was published Jan. 4 on RealMoney.
Uh-oh. Here comes the "If the first week is up, then the market goes up X% of the time" stuff!
Which, frankly, as a technician, I love. I mean, who knows? Maybe some secret sauce is out there just waiting to be discovered. Maybe there's some cosmic rationale that you and I just don't "get."
On the other hand, maybe trading and investing are simply about hard work -- putting in the time and effort to exploit the smallest of edges before the next guy gets to it.
If you believe in the former, then by all means keep looking. But if you're in the hard-work camp, ask yourself how much hard work you really did in '01. Great, now double it, because I have yet to find anyone world-class in anything who doesn't work at his or her craft ... constantly. Tiger Woods, Lance Armstrong, Roger Clemens -- sure, they all have God-given talent that gives them a huge leg up. But they all work their tail off to stay a step ahead of the next guy.
So, to follow Thursday's
New Year's resolutions, here are five more things you should do this year to throw the 95 mph heater like Roger C.
- Read five books on trading.
Attend one trading seminar.
Read two books on Warren Buffett.
Pick your favorite
RealMoney columnist and read every column in his or her archive.
Develop a trading or investing methodology your spouse or significant other could execute if you left the country for a few months.
Sound hard? It is. But if you're not up to it, then trust me, the next guy is.
And that is the final word from the Rialto Theatre, where I've looked over the top 10 movie list of 2001 and can't find a single movie I saw. I really must get out more!
Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. At time of publication, he held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and produces a daily premium product for TheStreet.com called
The Chartman's Top Stocks. While he cannot provide investment advice or recommendations, he invites you to send your feedback to
Gary B. Smith.