The Next Move, 12/20/06
I was reading a chess book ( The Great Pawn Hunter) at the gym this morning. As I stared at the diagrams, you know the ones w/ the little miniature chess boards w/ the pieces in various states of development, I thought a thought I'd never thought, "I'll bet I'll understand this better if I systematically walk through the next possible move for each piece of each color on the board (see Enhancing Trader Performance by Steenbarger). That will help me 'see' more of the board, reduce blunders and generate better tactics.
Naturally, this led to market-related thoughts and the chess book faded away:
What is the next move of the market?
Where will it mostly likely be and what path will it take?
Where should my strategies be positioned?
I left the gym thinking, there's a 98% chance it's between here and here, I wonder what it touches in between?
And what happens the other 2% of the time, or 5 days per year?
The pursuit of which seems like a good way to spend a day, or two, or...