Friday, January 25, 2013

What Ed Seykota taught Larry Hite

The following nugget of advice between these two great traders comes from Larry Hite's interview in Market Wizards:

"When a market makes a historic new high, it is telling you something. No matter how many people tell you why the market shouldn't be that high, or why nothing has changed, the mere fact that the price is at a new high tells you something has changed."

'Nuff said.

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