Don’t you just love short weeks?
That’s why, as of March 19th, I will be officially retiring from Mondays. Despite all the fun discussions of quick trades, the bulk of the trade ideas at PSW are long-term, fundamental value plays that we pretty much don’t even touch month-to-month. We’re always looking for opportunities of course but Mondays are usually silly, low-volume days in the markets and poorly attended by our Members as well – as they like to have their Mondays off too. So, as I turn 55 next year, I’ve decided to move into stage one of my retirement and cut Mondays off my schedule. That will make every week a 4-day week but still plenty of time to make money!
That’s why we are focusing this year on demonstrating the value of long-term investing. The new portfolio we’re doing for Money Talk is another example of the “set and forget” trading style which dominates our portfolios and, if we can make 40% returns working 4 days a week – why not put it to our advantage and take 3 days off? Only 5 more years before I cut out Friday too!
All of America would benefit from a shorter week. First of all, if we all worked 4 days a week, they’d need 20% more people to do the jobs. The people who have an extra day off would have more time to shop and go out – putting more money into the economy and everyone would be in a better mood – America solved. Even if we all worked 4, 10-hour days instead of 5, 8-hour days, things would be better off and we’d save 20% of our commuting costs and fuel consumption as well. Personally, I already work 12-hour days – so I’m REALLY looking forward to cutting one out…
I could have skipped yesterday morning as our Dollar play /DX is down $300 per contract at 91.10 and the Sept $22.50 calls are $1.30, down $100 per contract. That’s not terrible but we’re very spoiled as it’s the first Futures trade we’ve missed in two weeks, though we did expect a rough start as Fisher quit in the morning but at least we all got great entries and plenty of time to get in (we…