Monday May 15th, 2006 11:18PM ET

Tonight's Blog
Tribute To A Hero
Friend's With Benefits
Savant Kudos'
The Inside Scoop

Today was one of those day's you never forget... at least for me. It was Kennedy, Pearl Harbor and Sept 11th all in one. Today marked the passing of one of the greatest men who ever lived. No, you probably never met him. If you had, you might not even remember. He was an unassuming, giant of a man. He wasn't a politician, or a movie star. He never wrote a book, gave a lecture, preached a sermon, or received an award. He lived a life of quiet servitude. A life dedicated to the drug addict, the alcoholic, the career criminal, even the prostitute. Much more than a friend, he was a brother, a father, a son, a teacher, a student. He was, whoever I needed at any given time. He leaves behind a legacy of broken lives made whole. He lived to give. In life he gave all he had to mankind, and even in the face of death, when the only thing he had left to give was his very body... he gave that also, that someone else might live.

I will forever live in the shadow of,
Robert G. Dougalss

God Rest Ye Merry Gentleman

"Friends with Benefits" - If you're the father of a teenager, that phrase has you questioning your decision to parent. If you're a parent and you aren't familiar with that phrase, we really need to talk. As it refers to our new friend the eMini, the benefits are many and they are all as wholesome as apple pie. The one benefit I will touch on tonight is tax related.

Futures are generally traded more favorably and receive “60/40” treatment. In others words, the first 60% of profit from trading the eMini is taxed as long term capital gains. On a $10k profit, this could save you as much as $1,232.00 on your tax bill, assuming a 39.6% bracket. But wait.......... there's more. At the end of the year, instead of your broker sending you a list of every equity you sold, leaving your CPA the daunting task of sorting out the profit, your futures broker will simply hand you a Form 1099 which lists only one figure - your profit. Nice!

Tomorrow we'll discuss how every eMini session allows you to be Bear or Bull, and profit.

Our trading day was cut short due to the news we received. The market however, was most generous to the tune of 4 full points on the Russell in our personal account, using the simple strategy I outlined for you on Saturday with just a little dash of fib dancing thrown in.

"Savant Kudos" - One of our readers posted that their net worth has doubled based on our extensive due diligence on gold and the proper way to own it. Savant and I figured out together a number of years ago, that the world was in fact running out of gold. It has been Savant however, who has continued to carry the torch and bang the drum, day after day. Savant also has a legacy. His legacy is one of enabling ordinary people to create true wealth. People like our poster, and people like me. Thanks Savant, for all you do.





Savant can be heard live M-F @ 12PM ET.





Today we ventured into the belly of the beast and talked with industry insider Tim Gentry. Tim will become a regular guest on the show, and an archive of today's introduction is available here.

Saturday I tipped my hat to Greg from Trading Faith who gave me my first glimpse of the Future('s). Here is his take on the market -

Hello Everyone,


This mornings trading followed Gods Rhythm again. The buyers were poised and ready to defend the 50% retracement from the Low of the Year (1246) to the High of the Year (1326) at the 1287 area today with the gap down. This 2-day retracement took 50% of the years efforts/ gains out in 2 days. Very nice retracement for the buyers aware of Gods Rhythm. Unfortunately, not a good retracement for those traders that are not.



The buyers stepped in right on que at the 1287 level and at 10:30 am EST. they reached up to the 1st area for the sellers to defend according to Gods Rhythm at the 1294.5 area.



The sellers at 1:00 EST. are still defending that area very well. As good of a job as the buyers defending the 1287 and the resulting defense leg off that 1287 initial defense.



The battle rages on. To learn more about Gods Rhythm and how this battle plays out today you can watch the Nightly Stock Market VIDEO Recap.





Greg can be heard live M-F @ 11AM ET.



Trade Safe!

From the Desk of CT
aka Dances With Fibs