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23/2008
10.11.2008
Editor's
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MY TRADES
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Slowly up
Hi,
Finally markets reached point where panic is vanishing. Investors are
trying to calm their emotions. And look onto their portfolios and also
think about share prices.
It means that we have seen small bounce and we could see more days with rising markets.
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But I think that everybody is shocked with power of selling during last
months. And so bulls are very quiet and will be only slowly coming back
to the market.
Next weeks also could bring more "normal" trading. It means that
relative strength principle will start to work again. Some sectors and
shares starts to look attractive to buyers. Another will continue to
demonstrate relative weakness.
It is too early now to say which sectors will be playground for bulls
during next weeks or month. There are only few signs to tell it exactly
right now. it also means that there are not too much stock trade setups.
I personally trade slowly, trying to "test water" with smaller position size. And I am very selective.
I want to point that I like USD strength. I am reading some good
analyzes telling me that we are at the beginning of bull trend for USD.
And I use this advice to arrange my trades this way. If you do not
trade FX markets directly you can use Currency ETF stocks.
Happy trading,
Richard
Good book for every trader
I would like to tell you once again about good book I have read. Mark Douglas book is must for every trader - beginner and also experienced one.
.... top of newsletter
Sector and ETF Watch List
As I mentioned above there are first signs of possible relative
strength in some sectors. I am watching Biotechnology, Pharma and
Utilities.
Long
ETF watch list: ----
Short
ETF watch list: WMH, XLB, FDN, GLD,IEF,TLH,GUR,EWO,EWQ,EWU,EZU
Inverse ETF (long position): REW,DZZ
.
Internet sector is now one of the weakest. I will monitor it for possible short trade setups.
Stocks Watch List
Long watch list: ALK, CELG, ALXN, AMR, CBST, CLX, MCD
Short
ETF watch list: CQB, BBY
My detailed trade setups are available here.
Questions ?
I will be pleased to reply to any of your questions. Do you have
something to discuss ? Or would you like to read something in next
issue of newsletter or on my web pages or in my blog ? Let me know .
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