Here we go, todays rotations. The levels listed below on Oct 1 never change. Now, ES is under 7582 and trading at the low of the move 7575, if we close under 7657 we targets 7508-10!!!!

I hope everyone is OK in this. If you follow me or watch my streams you all should be VERY prepared for this. If you watch or follow me you should be short ES or NQ and short Gold. Be careful picking bottoms, the low is NOOOOT in!

The intraday ranges remain large and NQ is expanding, looks like ES, Gold and CL are as well. I am home from NY and this Capital Preservation Friday will be busy and I will look for opportunities to trade those markets live with you and I will share my thoughts and explain my process to you while I discuss how to be a long term profitable trader. I will also discuss how to survive the craziness of the markets and the craziness of life. Join me at 8:30 ET 7:30 CT on this VIP Capital Preservation Friday on @NTLiveMedia

I had my worst trading day on a surprise rate cut on the very first trading day of the year. Jan 03, 2001 after the tech bubble burst Greenspan cut rates by .50 late in the morning on a Monday or Tuesday. The NQ rallied 26% in a matter of a few minutes. There was no liquidity for 100’s of points. I was short 28 big NQ. That was 28k every 10 pts. I bid the market up 50 tp 100 pts at a crack and only got a few off. I covered the last 15 at the high of he day. I lost 1.5 million of my own money in a couple minutes. A broker was working a stop for me & completely froze. It was a total nightmare. This is still the biggest 1 day rally in history and it truly happened in just a few minutes. I was debit 650k the next day. Nobody but nobody trades debit that kind of money. My FCM allowed me to trade because they knew I had the money & they knew me. I had & still have a reputation for integrity and honesty. Don’t ever blow your reputation. They allowed me to trade after some deliberation. I could not trade more than 5 lots & I couldn’t lose more than 10k but I was allowed in the pit. It was incredibly important to me that I be allowed to to trade the next day so the sharks didn’t smell blood in the water. The rumors were I lost 10-15M. That I was out of business, that my firm was in trouble. That I was weak and wounded. I stood on my feet the next day debit 650K and traded my balls off. I learned an incredibly valuable lesson in this experience-NOBODY can beat me, NOTHING can beat me but ME. FYI-I started the year off down 1.5M. However, I had my most profitable year that year. Do not snatch defeat out of the jaws of victory.

"Who are we? We were a bunch of guys who were hungry. We were traders to whom it did not matter---whether it was eggs or gold, bellies or the British Pounds, Turkeys or T-Bills. We were babes in the woods, innocents, in a world we did not understand, too dumb to be scared. We were audacious, brazed, raucuous pioneers--too unworldly to know we could not win. That odds againts us were too high; That the banks would never trust us; That the goverments would never let us; That Chicago was the wrong place." Leo Melamed(the father of financial futures) at the 10th anniversary of currency trading. I have known Leo a long time and am very close to his son @Jordanmelamed. This quote is from Mickey Nortons book called "Game Changer" Mickey was the first woman trader on any trading floor. She is 94 or 95 like Leo. She is an owner of both the White Sox and the Bulls. She still trades and she attends EVERY home game of both the Sox and the Bulls. You should ALL know who Leo Melamed is and you should also learn who Mickey Norton is.

Go placidly amid the noise and the haste, and remember what peace there may be in silence. As far as possible, without surrender, be on good terms with all persons. Speak your truth quietly and clearly; and listen to others, even to the dull and the ignorant; they too have their story. Avoid loud and aggressive persons; they are vexatious to the spirit. If you compare yourself with others, you may become vain or bitter, for always there will be greater and lesser persons than yourself. Enjoy your achievements as well as your plans. Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time. Exercise caution in your business affairs, for the world is full of trickery. But let this not blind you to what virtue there is; many persons strive for high ideals, and everywhere life is full of heroism. Be yourself. Especially do not feign affection. Neither be cynical about love; for in the face of all aridity and disenchantment, it is as perennial as the grass. Take kindly the counsel of the years, gracefully surrendering the things of youth. Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with dark imaginings. Many fears are born of fatigue and loneliness. Beyond a wholesome discipline, be gentle with yourself. You are a child of the universe no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the universe is unfolding as it should. Therefore be at peace with God, whatever you conceive Him to be. And whatever your labors and aspirations, in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy. by Max Ehrmann ©1927