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June 17, 2009 7:25 EDT
you're watching:
Street Smarts
In-depth interviews with the movers and shakers of the financial world, hosted by Kevin Cook or Jud Pyle.
Jud Pyle interviews Tom Busby at the Money Show in Las Vegas.
Street Smarts
Jud Pyle, ONN.tv chief investment strategist
Guest: Tom Busby, chief executive officer of DTI Trader
06.17.09
Chief Investment Strategist Jud Pyle nabs an interview with Tom Busy, CEO of DTI Trader, about trends in the market.
Jud Pyle: Our viewers always like to hear what your take is for the next couple weeks.
Tom Busby: Today, the market is going through a profit taking phase and you ask yourself where it’s going to stop. Just get short and wait.
JP: How about a couple areas where are your favorite places to short?
TB: Over in the futures market, I like the DAX being short out of Germany. If you look at the E_mini, I’ll probably short it in another hour or so.
JP: Where’s the resistance?
TB: 900 is the key number because that’s where we opened the year at. And now you have the market in a profit taking phase – it doesn’t take rocket science to show that the trend is a little weak right now
JP: Up or down on the year?
TB: Up. Because the market has turned bullish
JP: What’s your news book?
TB: Trade to Win is an interesting book. It’s one thing to have set-ups, but it’s another thing to have the right attitude, and trading is about the right attitude.
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