Sunday, October 30, 2011

Japan Intervenes to Weaken Yen

Yetsenga Says Yen Intervention Effect Will Be Limited
Fink Says Yen Intervention Move to Shore Up Sentiment

Since September 2010, Japan has now intervened three times on its own and once jointly with other G7 nations to weaken the yen.

Friday, October 28, 2011

Peter Schiff Debates With Wall Street Occupiers



In an attempt to reason with Wallstreet protestors a notable economist that predicted the financial crisis tries to redirect their angry at policy makers.



Did Economist Peter Schiff Make More Sense Than The WallStreet Protestor?



CrossTalk: Euro Haircut

3 weeks ago a date was set by French Prime Minister Nicolas Sarkozy to sort out Greek debt resolutions. After 3days of marathon talks Greek debt was slashed by 50% (equivalent of €100 billion) and debt-to-gdp is to be reduced to 120% by 2020. A debt-to-gdp ratio over 100% is a clear sign a country's economy is not working so a reduction to 120% is not exactly a goal for a stable nation that has an upper hand on the situation. Current Greek debt-to-gdp is ruffly 160%. Greece has also adopted a number of austerity packages since 2010 which have resulted in protest including physical clashes.





Quotes:
"when is a deal really a deal?"
"who's going to pay for the bailout: "
"It's about as voluntary as sticking a gun to someone's head and making them agree to it"
"it is a terrible program"
"this is like an Irish marriage where the preist tells the couple to stick it out no matter how bad it gets"
"wouldn't it be better to just have Greece leave the Eurozone"
"as for Greece or any other country leaving the Euro - I don't think this would be a good idea... for a simple reason none of the long term benefits for being in the Euro are null and void"
"It's as though we have a case of gangrene in the head of a patient and the cure is to decapitate him"
"we have a system where growth has been halted - how are we going to make these gdp target projections"
"where is the growth to pay for these future debts!"
"proponents of austerity say you can not spend your way our of a debt crisis... well one thing is you can't cut your way out of a debt crisis. You have to generate growth and growth requires investment."

"we need real banking reform"
"the moral hazard argument is obviously there - if they're wrong the tax payer has to pick up the bill"
"if your being honest not much has been reformed in the past 3 yrs"
"The fear is if Germany is going to become the United States of Europe"
"frankly I don't think the American model is the right one"

Quest:
Henning Meyer
Jeffery Sommers
Marshall Auerback


Will Greek Haircut (50% debt reduction) be enough to save Greece from a future default on debt?



Thursday, October 27, 2011

Eurozone Debt Issues Overshadow Technicals

This video was way off the mark but I'll post it for analysis because there is still some valid points.



Quotes:
"technical outlook is still for a bearish euro"
"the market has been in a range and is going to have to breakout in one way or the other"
"alot of central bankers are in recession mode / forecasting recession, growth is still anemic"
"QE1 or QE2 Did not work it was the bazooka for the US and was massive compared to EFSF"
"US situation was different, primarily to avoid deflation and to stimulate employment vs the Eurozone trying to prevent default and reduce debt but it seems like their just throwing money away"
"the price of the Euro by year end will highly depend if there is QE3 in the US"

The next FOMC meeting is scheduled for Nov. 1-2

Will there be a QE3 before the FOMC benchmark rates are raised?



If Greece Default.... Is US Next?

Edward Harrison (founder of Credit Writedowns) says a default would be good for the US if there's no contagion.



Quotes:
"bailout fund is not credible (the EFSF)"
"If there is a Greek default what will the impact be: creditors of Greece - primarily banks / Greek banks - insurance companies mostly throughout Europe especially France and Germany"
"Greece would actually have more fiscal space if they defaulted because they have to take on massive austerity to make ends meet. A default would mean less austerity."
"Can Obama Really Change the US economy with an Executive Order: What you really need to see is credit write downs - Really were sort of stuck here - there's no systemic solution the problem"

Final Attempt To Save Euro Concluded?

Greek 50% haircut of debt but has it solved the Euro problem? Johann Van Overtveldt says it's just buying time and a similar action will have to happen to Portugal. Under the agreement Greece will be allowed to hold debt-to-gdp well above 100% (target is 120% from the current 160%) with a deadline of 2020 which is not a major achievement by any means.

Van Overtveldt said the recession will likely deepen for Greece because they will have to cut expenditures to increase taxes and Greece will be back on the Euro negotiation tables within 6 months.

Quotes:
"not a structural resolution"
"they are afraid to bite the bullet"
"there is only 1 solution for Greece - to leave the Eurozone"
"there is a huge problem brewing in Portugal"

Johan Van Overtveldt is in charge of Belgium's leading financial magazine and concidered a distinguished Belgian economist.

------
Will Europe's 'big bazooka' hit its target? Post-game analysis for Euro summit:


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ISDA's Geen Says Greek Accord Unlikely to Trigger CDS





Wednesday, October 26, 2011

Obama is a cockroach!!!

This protest has been going on forever and he has done nothing to quell the situation in a diplomatic way. Not that the protestors are taking hostages but this is similar to when Jimmy Carter was president and hostages were held for over a year (444 days.) while Carter road it out. To add insult to injury the hostages were released the day Reagan was inaugurated.

Obama's budget plan is also just do nothing. Obama should go down as the worst president in the history of the United States and I am shocked that he actually has the nerve to say he is going to run for a 2nd term.

Oakland has a very thick black community that is strongly against police violence yet Obama has said nothing about the misuse of force against the protestors. Yet Obama made the claims about foreign governments in Egypt regarding police abuses so you would think he would be steaming angry about this being from his "own" country. The Oakland police severely injured at least one protestor that was a 2 time Iraq war vet and seriously injured many others. His skull is fractured and was admitted to the hospital in critical condition. The vet was shot not once but twice. While he was laying on the ground other protestors ran back to drag him out of danger and they shot him again with flash granades which severely injured him.

Like a cockroach on every issue Obama just stays in the shadows out of sight and out of mind doing nothing while crisis erupts.

Breaking News: NY police begin arresting protesters



New York police officers started arresting Occupy Wall Street demonstrators who took to the streets Wednesday to decry a crackdown against fellow protesters in Oakland, California, RT correspondents reported.

­Protesters are taking to side streets, throwing construction barricades and trash bags into the street to slow down the police in pursuit.

Economist Yanis Varoufakis: "Greek banks already bankrupt"

war-crimes by Oakland Police - 3rd world tactics

Police use cowardly tactics on unarmed protestors. There were allegedly some bottle thrown in today's protest by in the previous night Oakland police assaulted peaceful protestor ripping down tents and declaring their protest as an "illegal protest". When I heard the comment I was shocked because it comes right out of the movie 1984.

The Oakland police didn't go after the so called bottle throwers instead they bombarded peaceful protestors that did not have anything to do with the rebel rousers. Caught on video was a group being flash grenaded while trying to carry off an injured protestor which was a woman. This reminded me of a war crime like act.

The Oakland police also attacked a person in a wheelchair and severely injured many peaceful protestors. I never tought I would live to see the day my government would stoop this low.











Monday, October 24, 2011

Sunday, October 23, 2011

There Will Be A 2nd EFSF Meeting on Wednesday

And will bring all 27 members back into the picture to finalize a response to the debt crisis.

EU leaders concluded on Sunday agreeing on plans to boost the firepower of the eurozone rescue fund - the European Financial Stability Facility (EFSF) - and backed plans to recapitalize banks who would be hit by a massive writedown of Greek debt.

Gold Day Chart:

Gold has been struggling to stay in an uptrend. It still is in an uptrend but it looks heavy to me. Last time I said that it rocketed higher and blew through resistance. I will be watching gold pattern closely this week and look for any confirmations of weakness.

Friday, October 21, 2011

free mt4 indicators

Looking for a few free indicators. Here's a couple I highly recommend. It's an alternative Ichimoku system and bar trend. It can be a good primer for a trading system. You can use the standard Ichimoku that comes with metatrader but this is much more appealing than the standard Ichimoku Kinko Hyo and there is a different and I feel more accurate signals. By the way it works if you put both the standard and the modified together on chart - try it for comparison.



Download mt4 indicators ichimoku & bar trend
click "slow download" to download for free and follow instructions.

Euro trying to break out of range on "optimism"

EFSF bailout fund has been a major topic of concern. Germany and France continue to discuss ways to handle the European debt situations with a summit on Sunday and possibly another one on Wednesday. ECB has also talked about the possibility of slashing rates last meeting do to double-dip recession.

h1 EUR-USD chart:


Euro breaks above 1598 ema (fibonacci moving average) in a jagged thrust higher.

Saturday, October 15, 2011

Are the Bulls Really in control of the market?

It's a tough question right now especially with all the news reporting how strong stocks suddenly are - it's hard to develop a bearish theme on the news. We will have to watch the charts closely in the coming weeks to see if technical support holds and what reaction the markets have to technical resistance should they continue to march forward.

While the markets march higher due to injections the real economy remains recessionary with high unemployment which currently under-reflects the real picture. While some banks are insolvent, low rates do not reflect the real market risk so banks that have money won't lend or are very selective about it. Low rates actually crimp credit after markets fundamentally crash.

What does insolvency mean?
Insolvency is when a business has insufficient assets to cover liabilities.

According to Wikipedia the definition of Recession: In economics, a recession is a business cycle contraction, a general slowdown in economic activity. During recessions, many macroeconomic indicators vary in a similar way. Production, as measured by gross domestic product (GDP), employment, investment spending, capacity utilization, household incomes, business profits, and inflation all fall, while bankruptcies and the unemployment rate rise.

Overall I think the current economic picture defines a recession and in looking at the banks many or insolvent or unwilling to loan money into a recessionary scenario where there are more risk. Banks in general are in the business to make money - although many are biting the bullet thanks to bank deregulation. However we can't get too caught up in fundamentals as traders or we won't make money or even survive if we get too caught up in the news, financial reports, or the fundamentals. Although it is wise to properly read the financial picture but also understand all the factors in play including artificial manipulation by the government and banks in the form of injections and unconventional monetary policies such as Operation Twist, Quantitative Easing, Bailouts of any nature, fraud, ect.

In fact the market makers use the news and fundamental picture to sway the emotions of competition - which is you if your a trader - in tougher markets this becomes more evident. Sometimes the fundamentals can not be fought but most of the time enough market manipulation will boost almost any market in the short term to medium term. So if your a small trader you will not be able to win that game.

Price action and technical analysis are our only friends in the game.

Dow Jones Industrial DJI30 H1 (1hr chart):


DJI30 Day Chart Part1:


DJI30 Day Chat Part2:


DJI30 Day Chat Part3:

Thursday, October 13, 2011

Europe Pledges To Fix Banks Not Good Enough

To keep the EUR-USD above 1.3800 and the market turned back to risk aversion in the European trading session. European Commission President laid out plans to "solve" the European Debt Crisis. Although several methods to deal with the debt burdens were laid out - financial analyst criticized the plan as being too vague and lacking detail.

Slovakia has still not gave the thumbs up on the expansion of the EFSF but said a final decision would likely happen on Friday. Without the vote the expansion plan to save the banks will fail.

I heard traders in chat rooms talk about the debt crisis being unsolvable in the long-term and some say the Euro banks involved are insolvent. Needless to say the Euro hasn't completely collapsed but is a dangerous game of cat and mouse (The "cat" is unable to secure a definitive victory over the "mouse", who despite not being able to defeat the cat, is able to avoid capture).

EUR-USD Trade Outlook: Position mildly bearish. Trade strategy: Short with stop loss at 1.3832 Target 1.3572. If stop loss triggered think will go to at least 1.4000.

Wednesday, October 12, 2011

Dow Jones Industrial (DJI30 - Big Cap Stocks)

In technical 1hr uptrend with higher lows and higher highs. Until this pattern is broken it would be logical to stay bullish even though fundamentally things seem bearish. At least until the pattern breaks. There's no way to define a perfect top in emotional markets.


X's mark where 1 hours lows are.

EUR-USD, Major Equities, Gold breakout

through previous short-term highs. Short-term Slovakia fears lifted? Short term surge although EFSF issue is not solved yet but there has been a huge sell off across the board of the USD.

EUR-USD H1 Chart:


DAX30 H1 Chart:


Gold H1 Chart:


DJI30 (dow jones industrial) H1 Chart:


AUD/USD H1 Chart:


USD/CAD H1 Chart:

Tuesday, October 11, 2011

Alcoa 3rd Quarter Earnings Disappointing

Alcoa is the 1st major US corporation to report 3rd Quarter Earnings. Profits were well below what Wallstreet expected. Alcoa blamed lower aluminum prices, weakness in Europe, and seasonal factors.

CEO Klaus Kleinfeld said "With the exemption of Europe, we saw growth in our end markets, though at a slower rate than in the first half, as confidence in the global recovery faded "

Analyst had lowered earnings forecast for Alcoa to 24 cents per share and sales of 6.23 billion due to falling aluminum prices. Revenue increased 21% from year-over-year to 6.42 billion but was lower than the 6.59 billion reported from the 2nd quarter prior to this report.

Alcoa did report higher than adjusted forecast but earnings fell short of expectations.

Alcoa stated aluminum prices were 5% below 2nd quarter prices. Earnings were released after Tuesdays US market close so it did not sway the US session but Alcoa traded lower in after hrs as did the equities.

Alcoa shares are down 33% this year making Alcoa the 3rd worse performing stock in the Dow Jones Industrial stock market index.

DJI H1 Chart:

The Dow Jones Industrial stayed in a 1-hour uptrend after dipping to 55-ema (a fibonacci based moving average). Markets stayed on edge in regards to the EFSF vote out of Slovakia that could shake the global markets.

Slovakia Rejects EFSF Bailout Fund

Slovakia the last of the 17-member bloc to vote rejected the EFSF expansion proposal but the finance minister said it will likely be approved later in the week in a 2nd voting. Slovakia is the 2nd poorest member and has the lowest average salaries in the Eurozone.

Richard Sulik (House Speaker, party leader, and opponent to the expansion) previously said "How am I supposed to explain to people that they are going to have to pay a higher value-added tax (VAT) so that Greeks can get pensions three times as high as the ones in Slovakia?"

Sulik also said "The EFSF is going to massively hurt Slovakia in favor of bailouts of foreign banks,".

US Dollar finds ground / short-term rally in Asia Session

But US Equity futures slipped. European stocks fell ahead of a key vote by Slovakia to expand the EFSF bailout fund. 3rd quarter Earnings releases will be the key focus in US session. Alcoa (AA) will be the 1st major US corporation to report earnings for Q3 on Tuesday. Expectations for Alcoa are down 15.7 percent from 3 months ago. Later in the week on Thursday Google will report.

Slovakia is the last of the 17-member bloc to vote on the EFSF expanision - if they say no it doesn't get approved so the markets are staying cautious which is EURO negative. Slovakia Prime Minister threatened to resign if an agreement isn't made today to expand the bailout fund. The vote is not due until the end of October.

Gold slipped due to risk aversion even with India's wedding festival which starts in late October and ends in December. This usually prompts a gold buying spree for the worshiped metal but in this case commodities were weak bringing down Gold as well from short-term highs. India is the #1 consumer of gold and accounts for 1/5 of gold demand overall.

Gold H1 Chart:

Gold hit resistance at the 377 ema - A fibonacci based moving average but was still holding on to higher lows.

Monday, October 10, 2011

Wallstreet Protestors - Occupy Wall Street have good reason to be angry

Wallstreet criminals pump markets to be dumped again - it won't be long before currency is worthless. It won't matter how much you make in this market (if you make anything) because it won't be worth anything in the near future - if they even make it through this year.

By all rights this market should be collapsing to allow for a natural correction. Stocks are way overvalued and the US dollar and Euro are doomed because of all the artificial manipulation. No amount of stimulus is going to solve the debt situation in the US or Europe. Creating more debt to fight debt that is already out of control never works.

I wrote about this over 2 yrs ago and everyday it is becoming more of a reality. The American dream has been destroyed and a new corporatism put in place with the complete destruction of the middle class and freedom that was once a staple of the United States.

There will be no housing market recovery without jobs. Since there's no hope of a job recovery because all the jobs were outsourced away there could not possibly be a recovery based on jobs. Why would people work when the government just creates more money so more cheap goods can be purchased from China, Mexico, or India (anywhere but here)... Eventually this situation comes to a biter end.

The construction industry which provided many jobs has also been destroyed. No reason to build new houses with no jobs and so many homes available that have been drastically reduced from once soaring values (some people actually think those days will come back). So basically the core of jobs has been destroyed - even jobs that have to be done here such as building a house are gone.

Unlike people that lost their job & homes corporations like Goldman Sachs or Pfizer get massive bail outs - and tax payers get the bill. Despite all these bailout no jobs have been created for civilians.

The Federal Reserve Bank meanwhile spent approximately 16 trillion between 2007-2010 according to the Ron Paul audit. The sick thing is not only is this more than the combined national debt much of the money went to foreign countries. Yes that's right they spent more than the combined national debt in only 3yrs time. All Bernanke can say is I don't know where the money went - not good enough Ben! You are not only liable for that money - you are responsible for much of the destruction of the United States financial system.

Americans were promised hope and change after Bush left power but all Obama has brought is an extension of the Bush nightmare and new debt. No wonder young people are marching down the streets in anger. They have good reason to be angry when their own government sold them out. It will just get uglier though - the government will just enforce martial law and use this as an opportunity to expand the government more.

Law Enforcement doesn't care - they will just collect more overtime. Guess who gets the bill - the tax payer. Little do they know the money they make now will be valueless in the near future for the polices they are protecting. You might live high now - but you will come down - like everyone else that has gotten high off of this artificial stimulus and fraud. The clock is ticking and the pool is overflowing with debt.

Is it really the responsibility of the people when the government created the debt situation by repealing acts such as Glass Steagall Act and allowing the central bank to push rates so artificially low? The corrupt WallStreet controlled government knew exactly what it was doing all along and they never stepped in when things got out of hand.

Saturday, October 8, 2011

Will Greece Default? If So When? In October, Before The End Of The 2011, When The Euro Defaults. Video:



If Greece does default the question is when and what happens to the Euro afterwords? Investors are very nervous over this and many market strategist and economist feel Greece will default from between anytime now and then next 5yrs (or even longer) but they will default according to the consensus. Some even think Greece will default this month at the height of the situation but others feel they will be propped up before defaulting because it would be a bad time for it to happen while the economy is struggling or possibly it will be avoided at all cost - but I highly doubt Greece it that important - they are just important now do to the current global economic situation.

The ECB would like to avoid a default as it could cause a domino effect where other Euro members would follow suit. (The other "Pig States")Italy, Spain, Ireland, Portugal could follow Greece's lead and cause the Euro to cease to exist as a whole. The Pig State's all have their own sovereign debt issues so the matter is a serious one.

Italy and Spain were also downgraded by Fitch on Friday. On Sunday Germany and France disagreed about how to handle the situation but both seem to agree that a default would have catastrophic consequences for the Euro-zone.

France wants to tap into the EFSF rescue fund to recapitalize its own banks - Germany insisted that the fund should only be used a last resort when all national funds have been exhausted.

Needless to say there will be alot of topics to debate come the EU summit meeting on Oct.17-18 like how to kick the can, how far to kick the can - I'm being sarcastic but unfortunately that's all their doing.


Rumors have even popped up that Germany's Bundesbank will go back to a national currency (for example - the Deutschmark). Many German's have had a hard time accepting the Euro and would actually rather go back to a national currency which they believe would be more stable. Something that will likely not happen overnight despite the rumors and talk.


Despite all the negative news an IMF Official (Poul Thomsen) reported Greece is making good progress. "There has been good progress but there are still important issues to be discussed. We're not quite there yet. The review will hopefully conclude soon." Greek Finance Minister (Evangelos Venizelos) said the country had enough cash to make it to mid-November.


At the same time Greece is under fire so too is Bernanke. Bernanke makes bold statement that the "economy is faltering" and pressures congress to act. It would seem that everyone is begging for money from Athens to Washington, DC but the credit line is running dry.

Thursday, October 6, 2011

Crude Oil Threatens to go Back into The $80's

Because of a supply drop according to US Inventories.

Crude Oil H1 Chart:


Brent Crude H1 Chart:


Despite the gains some analyst remained bearish because of the overall economic outlook and the Greece Crisis. Nevertheless the market preemptively seen it as bullish that European finance ministers were examining ways to beef up the banks balance sheets.

Crude Oil was fast to rise on the news making gains of 5% while Brent was up by 3%.

Wednesday, October 5, 2011

Euro-Zone Retail Sales (YOY-AUG) Surprise Forcast Come In Worse Than Expected

At -1.0 vs 0.7 ahead of ECB Rate Decision. The Euro did not have too much of a reaction and stayed in a congested rebound but has set up short-term resistance 1.3357.

EUR-USD H1 Chart:


Although no rate change is expected the IMF is pressuring the ECB to slash rates because the debt situation threatened a 2nd round of recession. There are some that think the ECB should cut rates to 1.0% from the current 1.5%. Trichet will be reluctant to make such a move with inflation above the ECB's target of 2.0% although there is a remote possiblity the European Central Bank will cut rates by 25 basis points from 1.50% to 1.25%. The bigger issue at this point seems to be the Greek situation so they will likely take a wait and see approach with Greece and then gauge the economic situation. Unless there are strong economic figures the Greece situation and sovereign debt crisis (in regards to defaults and ability to pay) will take the center stage.

Pound Moving Lower Before BOE Meeting

GBP-USD H1 Chart:

UK Pound sets up a wall of resistance in H1 time-frame. Will the previous low hold is the question?

Dollar weakens in short-time frame, Equities trying to find footing

Dow Jones DJI30 Daily Chart:

Dow Jones DJI30 H1 Chart:

Tuesday, October 4, 2011

Today's Market Notes Oct. 04, 2011

*Report in the Financial Times that EU ministers examining
ways of coordinating recapitalizations of financial institutions
lift some gloom off of market.

*Greece slipped closer to default.

*Eurozone ministers meeting over Greece crisis to see if Greece qualifies for more emergency funding. A final decisions on whether to pay out the next 8 billion Euros in aid on October 13th was canceled and EU/IMF inspectors will have several weeks to report back on Athens budget cuts. Ministers decided that that Greece could wait until mid-November.

*Greece has only enough money to pay pensions, salaries, and bondholders through mid-November says the finance minister. Greece is facing bankruptcy within weeks.

*Bernanke said the US economy is close to faltering and a disorderly default by Greece would have a serious impact. He went on to say that "Unless the European situation is brought under control, it could be a much more serious situation for the US economy". Bernanke also stated that the most significant factor for depressing consumer confidence was the poor job market performance. Bernanke did not tell us anything we didn't already know basically.

*Bernanke made headlines and boosted markets by stating the FED is prepared to take further steps to support the US economy but failed to define what those steps are.

*What could Bernanke do - is he just jawboning? Bernanke said he could use more tools but what exactly does that mean with every option seemingly exhausted? The FED could for example do Forward Guidance on the balance sheet, Increasing the balance sheet, Provide funds directly to the Private Sector. So there's still things they can do that are left in the tool-box but the situation is unusual. They might try to wait it out at least until November to see what happens with Greece and if the global picture stabilizes they might try to wait it out even longer to see if a technical recovery can take hold.

*Crude Oil staying in the 70's.

Michael Pento of Euro Pacific Capital admits he was wrong about being so bearish on bonds but says he will never buy Treasuries - "It is the biggest bubble the planet earth has ever seen..." citing the time to buy treasuries is when real interest rates are very high and inflation is falling. He was also right about gold. He said you have to be bullish on gold when the Fed is stuck at zero for at least another 2 yrs -- which guarantees real interest rates will be negative for a very long time.

Last month:
*No new jobs in August in US. 1st time since Feb. 1945.
*US postal service might end overnight delivery to stay in business.

****Under Editing****

Looks like my simple but effective analysis was spot on.

Most try to go for the most complicated ideas when trading. If you had listened I made you money using a very simple approach. As you can see the contagion has spread. If you went the other way chances are if you were not religious before you are on your knees now praying that the market will correct or contemplating jumping off a building - don't do that there's lot's more things to live for than money and materialism. But if your going to jump off a building, just because you lost money - while in perfectly good health - I don't feel sorry for you.

Forget god (sometimes you have to even if you believe), forget money, get in touch with your inner spirituality. And above all stop trying to catch a bottom or a top - it is the most common error in trading. Most traders think they can do this but trying to find the absolute bottom or top is virtually impossible.

Yes you see I show you the simple and the simple stuff can work but I also know complicated tricks as well but if you don't first understand the simple stuff the complicated stuff won't do you any good. Friend if you want to make money get in touch with yourself and fine tune your emotions. The market is tuned to manipulate your emotions of greed and fear. They will keep you chasing your greed and running from your fear.

This speech from the movie trading places says it all:
"Think big, think positive.
Never show any sign of weakness.
Always go for the throat. Buy low, sell high.
Fear, that's the other guy's problem.
Nothing can prepare you for the unbridled
carnage you are about to witness.
The Super Bowl, the World Series. Pressure? Here it's kill or be killed. Make no friends and take no prisoners. One minute you're up half a million,
the next, boom. Your kids don't go to college
and you've lost your Bentley.
"

If I helped you - help me by buying my trading system to the right - just click on the picture. Not only will the system help you - your karma will improve and it is a small price to pay for the advice and tools I have given to you from my own experience.

The most formidable weapon though is you and having absolute control of your emotions which with discipline cancels out greed and fear. This market is only for the most disciplined traders that have the patients not to jump on every move but able to react to technical breaches.

Monday, October 3, 2011

Big day of losses - Video Report Dow Jones Industrial plunges - Buy the dips?

Greek contagion spreads, Chinese woes, Lack of QE brings hyperinflated markets to reality - Day of Reckoning. by TraderNeal

Sunday, October 2, 2011

Will Be Posting Charts Later

Stay tuned. As much as I want to make a post now in these wild west like markets - I have to manage my own trades. I'll try to post a chart in US session and perhaps some market analysis.

I suspect this bloodbath in Asia will hold up in US session. I'll post some charts in US session to try to figure it out. If there's a major slide I might wait until US close.

**Update** sorry didn't have time to post charts in US session but I still might later. please stay tuned - I just made a video which is being updated and will be available shortly on this blog. It is actualy easier to make a video than to do chart analysis and post charts.

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