Unfortunately GOLD didn't rebound, broke the support. Weaken Oil and sudden bullish dollars drove it down - oh well, they are all inter-related. Expensive Oil drove inflation, coupled with already weaken dollar, one would have thought traditionally precious metals will be in vogue.
Dollar turnaround was really surprising! This happen after FED, BOE, ECB decides to hold Interest Rates. Initially, I suspect their strengthening of dollar were due to massive carry trade unwind.
However, after reading an insightful article, I'm beginning to believe it was due to FED intervention. While they have temporary halt the weaking of dollars, unfortunately, the underlying fundamentals issues remains unresolved.
Dollar Index - Mystery Solved
Of late, I reading about mishaps in some oil fields (explosion) which may leads to supply issues. Oh dear, does that means high oil prices is coming back once again? :(
= THE END =
Wednesday, August 13, 2008
No Glitters, Only Shivers
Thursday, August 7, 2008
GOLD Go go go!
We seem GOLD falling down along with Oil lately, and Dollar has been strengthening against EURO. But today, we see an inverted bullish hammer, which indicates a trend reversal is on the way. (i.e GOLD to rebound).
We will probably know the outcome after BOE & ECB rate decision today.
Seriously, I hope it will rebound since I'm vested in Precious Metal Fund LOLz. If it breach this support level, I believe the down trend will have been validated.
Source: stockcharts.com
= THE END =
Monday, July 14, 2008
SPC (Final)
OK, just an final update before the battle ;)
Often, one signal/indicator is not enough to confirm the trend and breakup. Hence a few are usually used to positively confirm and reduce the margin of errors. So what got here?
1. Alligator mouth opening up for action (3 moving average lines branching out)
2. GMMA (Guppy Multiple Moving Average) signals crossover to bullish trend
3. MACD inching up
4. Stochastic hook up again
It's look affirmative. The last close price is $.698, ideally I could like to have it at $6.85 (which is around 50% ~ 62% fibonaaci). Well, I think $6.9 will do, 1st target $7.8, 2nd target $8.2 ..... let see if these work out by end of next week. :D
= THE END =
Thursday, July 3, 2008
TradeSetup: SPC (Updates)
I must have been very bored to do all these hahahaha ...
Anyway, the pullback finally happened. But there are a little more downside still coming according to those indicators below.
More importantly, we will wait for signs of reversal. Tomorrow Mr Market might be indecisive as our Straits Time Index was down 1.62% today. Probably we could decide to enter or scrap the trade based on signal (candlestick) on the following day.
Today's market having "diarrhea" again hmmm ... wonder when this will end!
Anyway, trying the 2 trendy trade setup which I hope to find out if it will work for stock as well. At this juncture, not playing any real money yet.
So the price line breakout the blue trend line, it should end up at green target line . However, noticing RSI & Stochastic are showing hook down, there may be a retracement which gives an opportunity to enter the trade (about 6.8) before it start moving up to target again @ 7.8. Stop loss at 6.3 support.
Will this works? will see ...... ;P Read More...
Thursday, May 22, 2008
How far will it fall?
I always watch in awe in this remarkable free fall. Greenback nearly drop 20% against Little Red Dot. And Aussie close to attaining Nirvana Parity (i.e Equal to Greenback)
Loonie & Swissy had previously attempted at this level, only Loonie maded it.
How far will it fall against our Little Red Dot??!! *phew*
= THE END =
