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The end of an era.... thank you!!
extended updates will start Monday 1st March 09. Live trading service will start shortly too.
I will update my sheet shortly, but I am short Cable from 1.4565
sp500 - key level
23rd Feb 09 - 09:19am update
I have taken my position off in the GBP JPY. It is still a shorting candidate. I am looking to put my position on any weakness in the 15 min chart. Chart below shows double top, and the geometry shown on chart lower down the page.
22 Feb 09: 23:36pm
The Dow chart looks awful. Consider though that we have moved down 8 days from a top, 13 days from a low, 21 days from a low and 34 days from a top. I am somewhat optimistic that we will see a bounce, but I am not actually a brave enough man to put it on just yet. It is almost midnight, and I have no idea how the Asian markets will pan out.
22 Feb 09: 23:34pm
STERLING YEN CHART - Potential reversal pattern>
A Gartley pattern is forming into a 78.6 (if you can ignore the spike).....
I am selling short at 134.60 with a stop at 135.80. The stop is wide and I am using a very small probing position to begin with, which I will add to as the position proves me right.
22nd February 2009 - 23:14pm
Good morning and welcome back to a new week,
I found this great quote on Yahoo during the evenings research:
"European leaders agreed on Sunday to push for .. strict new regulation of hedge funds as part of a sweeping overhaul of financial rules designed to prevent future market meltdowns".
Thats great. Maybe while we are at it, we can impose new rules to prevent speeding, obesity, smoking, drug abuse, and why not add divorces, promiscuity, and insider trading to it. Hey, why not impose rules against draught, famine, floods and hurricances?
You think I am joking? I had a conversation with the Matrix man back in 2003, where he showed me why 2008 would be such an important year for the global markets. The fact of the matter is that we are living in a cyclical world, but our leaders can't tolerate that. It is better to be seen to do something than to do nothing.
We will start off with a history lesson. We will call it "Media Market Timing", spanning 4 decades. It is as often is on this site courtecy Larry Pesavento, a true market master, and a great friend. The media is often a great contrary indicator. Here are some front pages from the last 4 decades:
Media Market Timing in the 1970's:
Media Market Timing in the 1980's:
Media Market Timing in the 1990's:
Media Market Timing in the 2000's:
Open Swing Trades & Open Orders:week 23rd February 2009
ANALYSIS
