Friday, November 20, 2009

A few rumbling thoughts...

1)  Making a positive impact on other people's lives
It is one of the most gratifying feelings one could ever have.  To make a positive impact on people's lives and watch them "grow before your eyes" is just an amazing feeling to say the least.  Most of the time, it is unplanned and it just happen naturally.

2)  Be vigilant when everyone is making money
I read a post some time back on senior bro's blog that says essentially that "for every deal transacted, there is a willing buyer and a willing seller and both thinks that they are smart and making the right investment decision."  Who on earth will risk their hard-earned money with the expectation to lose it all?  When everyone seemingly is making some good profits from the market.  Stay vigilant.  You must not under any circumstances take your eyes off the market and be complacent.  Ordinary folks without privileged information and a good trading system are not supposed to make money.  Under normal circumstances, money concentrates in the hands of a few.  If everyone is making money, it is a warning sign t you that a correction is near.  Dr. Elder has a chapter on "Market Bell" in his "Sell and Sell Short" that talks exactly that.

3)  AUDUSD pair
I had the intention of going long on the AUDUSD pair to hedge my USD exposure.  Please see post on 9th of November:  Based on what I understand, I am picking an arguably one of the strongest pair to go long fundamentally.

Well, guess what?  I found myself staring at a shorting setup.

This is my valid setup to short and not to buy.  Indeed, the divergence has run its course.  When I first look at it, the pair was trading at $0.9398 and it is now trading $0.9084 as I type.

4)  Gold
What the AUDUSD didn't offer, gold certainly offered.  It was a basic pullback in an uptrend to area that is showing good support on the hourly -- the $1,130 area.  I went long at $1130 and exited at $1143.30 when a slight divergence is spotted on the hourly.  The hourly is not shown here.  The profit will come in handy to pay for all the meals for my family's holiday in Japan.  Cheers!

5)  Goldman Sachs
Last but not the least, GS took a beating yesterday as even their shareholders are demanding a bigger piece of the earning.  Goldman has spectacular earnings but most of it goes to their executives but not their shareholders.  When I examine the daily chart, it is showing the potential of forming my favorite setup.  I am waiting for the right moment to pounce.

6)  "Buying" opportunity maybe here again next week to replenish depleted supplies
Have a good weekend ahead and happy hunting!

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