November 24th 2013: The Kirk Report for $100, Alex?

For the not-so-princely sum of $100 per YEAR (not per month), you can have access to the trading brain of Charles Kirk via his namesake, The Kirk Report.

Charles brings with him an extreme work ethic that helped him turn a tiny $2K porfolio into a relatively huge $7M account.  I haven't done the math to figure out the average yearly compounding, but we can say for sure that he's done well at trading.  At this stage, he can afford a more balanced life, but that doesn't seem to diminish from the virtual fire hose of information that he shares daily via email updates (pre and post market updates), weekend updates (flipboard magazine and week-in-review video), as well as a real-time, twitter-like, link-fest called the "Notebook".

In general, some of my favorite posts are the in-depth interviews with other traders who have reached that elite multi-million (or higher) status.  It's Jack Schwager's Stock Market Wizards in real-time.  Where else are going to find this stuff?  One of my all-time favorite posts of his was a 2012 "self interview" titled simply, "How I made 54K last week".

Perhaps his greatest talent is the ability to see and map out price patterns and possibilities in the S&P500 chart on multiple time frames (from weekly to 1 min charts).  He identifies the patterns (mainly cup & handle and variants like head & shoulders) that seemingly everyone (including the HFT algo's) are watching.  Even if you don't trade patterns, it's useful to be aware that he's trading them, other pattern traders are trading them, and the algo's are trading them.  The completion or failure of these bullish or bearish patterns also gives a sense of the strength of the underlying trend.  For example, if the bearish pattern currently in play fails, a bullish one will often form and succeed.

Where else might you spend $100 on trading this year?
- 5 round trip trades?
- A tight stop?

Consider joining the Kirk Report for 2014 and earning a multiple of your $100 back.

In full disclosure, Charles is offering a "End of Year Drawing" with prizes for positive reviews.  My personal win-rate with random events like drawings is close to zero, so don't let the drawing color your interpretation of my review.