It is 1.00am NY time Wednesday August 19 and the market is at 1.4152
My impetuous and impulsive BUY trade at 1.4135 from yesterday is still playing itself out. (Your scribe has a flu at the moment and I would like to blame it on the drugs I have been taking and the loss of blood from the sample they took ....Have you seen the size of a syringe lately?...I am sure they took 20 gallons of blood from me).
Mrs Jackson has confined me to bed :) ... Alone :(
It was probably the least disciplined trade entry I have taken since I started this blog. However, it has had a shaky start but I am still looking at a first target of 1.4250+
Edit 3.25am NY time Market is at 1.4095 The market has moved lower but London has not done anything extreme. I am not in love with this trade but I will let it play itself out for a little longer.
Edit 2.20pm NY time Market is at 1.4250 I apologise for missed Edits at 8.00am and 12.15pm but have been in a deep sleep from the flu. I have just closed my position at 1.4250 for a 115 pip profit. I will be back tomorrow
Edit 2.55pm NY time The market is at 1.4236. The market has hit my SELL target at 1.4250 so I have dragged my sorry ass out of bed again. I have decided to get back into the market again. I am a SELLER at the current price.I have just SOLD at 1.4235. A 100 pip Fixed SL
Emails
Email 1
I have a question about how you draw your Fib's, you mention that you draw them between the most recent high and recent low. However reading between the lines a bit, am I right in saying that you pull up a 300 period 4hr, and then draw a line at the high a low of the most significant move in that timeframe ? Yes, but I see 50% Fibs as a series of targets. I work out all the 50%fibs starting from the RIGHT hand side and working to the left...So I have a series of 50% targets. If I am in a trade, as it hits a 50% fib, I then look to see whether I want to close out or hold and head to the next 50% fib
Email 2
I would like to ask you about some fundamental issue. As far as I know, every country at the moment wants their currency to be weak to have a better environment in their international trade activities. Yes, so they can increase their exports
The question I am having here is that how China wants the dollar to be.They want the USD to be strong (The Yuan to be weak) so that they can export more to the US
I remember you mentioned about this that China wants the dollar to be strong so that their dollar assets become secure, also they can export products to US at better condition.Yes
But, what about US? How they want the dollar to be? Don't they want the dollar to be weaker? Yes, but China is keeping it strong by buying as much T-Bills as the US can put out. The US is NOT in control of their currency...China has the ability to ensure that the USD remains strong, and the US cannot do anything about it
Email 3
this guy on TV really got to me the other day. He was discussing about whether anyone (China) would continue to buy U.S. bonds and what would happen if they didn't. I recall some relief when the bonds did in fact sell. I now heard that within 10 days of that sale almost 1/2 of those bonds were resold to the US treasury which of course simply printed money out of thin air. Is this the shell game I think it is? Yes
I have also heard that the US govt might be not only promoting inflation but counting on it to pay for some of these new programs and with the intention of saying they are not raising taxes but in fact collecting taxes on a larger pot due to inflation (10% of $1000 instead of 10% of $100). Yes..You are starting to see the games all politicians play
You seem very in tune with the movements of the US financial machine. Are these accusations, to the best of your knowledge correct? Oh yes...but they are not new...That is why Nixon went off the Gold standard for example
Doesn't this seem like a lot of accounting tricks that are designed to fool the American people? Oh yes... but what is new about that?...LOL
What do you see as the longer term implication of all of this? The continuing break down of the American empire due to political parties and the wealthy banking elite abusing the whole system. We Americans will just become gradually poorer compared to other parts of the world (China, India, Russia and Brazil...the BRIC countries) which will be increasing in wealth and power in the next 20 years
Email 4
I know you think China will not let it decline further with all the USD holdings they got but other then this view based on fundamentals is there data in the PA/chart to support this, please? Yes, have a look at the 4H chart since very early June..the market is moving sideways which indicates that the previous move up has lost its strength and then will start to weaken
Email 5
Going through your blog I see that your sources of fundamental analysis come from the "Financial Times" (London), "South China Morning Post" (Hong Kong), and the "Business Times"(Singapore) Can you direct me to where you find your editorials in these newspapers online, or who your favorite columnists are? These are financial papers (no stories about Britneys latest weight loss...LOL)...the Editorials sections are written by experienced Financial Editors who know their stuff
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