The Sunday Times said that Barclays was in talks with about six investment groups and would probably select three of these. They included state-linked China Development Bank and Singapore investment firm Temasek Holdings, which had bought large Barclays stakes last year, it added.
- so a fund is down 50% on their investment...nice play
it is Friday the 13th June 2008. Stay in bed if you are superstitious.
I hope you made some good money from yesterdays "prediction". Thank you to Larry for pointing out the astrological combo signal. Fact of the matter is that the Dow came off quite substantially in the latter half of the day, and 130 below the high of the day. Normally I would associate this with a reversal day, but given we already came from a low (the lowest in 60 trading days), I am more inclined to see the rally yesterday as a dead-cat bounce. I have been a buyer this morning.
The Map is showing a lower morning and a positive mood the rest of the day.....
Larry Pesavento sent me this chart this morning - really interesting.....
The Matrix Book - A Course in Trading
The Matrix Book has now been released. It is an awesome course in forecasting turns using the Matrix Cycles.
The book is incredibly condensed with information, including Fibonacci Spiral Trading, Swing and Trend Trading using Cycles, and it cost some 75% less than the original Matrix CD course.
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11th June 2008 06:50am
I had some emails asking me why I have been long gold. I got a support buy signal for Gold, which was backed up on the hourly chart. By the time the report went out Gold had declined again.... thats the nature of the market. That is still a $25 trade. As of now, a close below $865 on the daily chart paves the way for $845, but I will not trade it. I haven't got a good risk signal.....
I still want to be short oil.
DAX is looking negative today, but watch the turns.....
10th June 2008 06:50am
I took delivery on Sunday night of my Matrix course. It is a very stylish book with such an incredibly amount of information condensed into it. Every single cycle comes with complete trading rules, and the 8th chapter is a complete trading strategy for swing traders.
Crude Oil had a limit up move and has now subsequently broken lower. I am betting on falling prices.....My stop will $138
Euro really smacked me on the nose the other day, and yet here we are again. Just as I thought my scenario for Dollar strength was disappearing, the Euro breaks down again. I am betting on a test around $1.52
I am a buyer of Gold. Here is the shorter-term daily chart. Underneath you have the longer-term weekly chart.
DOWN till X-mas
9th June 2008 07:17am update
Good morning,
A notice to those who attended the Hard Right Edge Workshop on Saturday: the risk paid off overnight. The Dow trade yielded 40 points. All units are closed. The Dax bounced and is closed, as is the FTSE.
The European indices are being called lower, but have seen some buying in the early morning. The Dow is being called up 20-30 points. All in all you dont need me to tell you we are in a down-trend. It looks to be a volatile and tricky day.
I will post both the FTSE and the DAX Market Maps this morning. Unfortunately they are pointing in different directions, so I will watch the key turning points.
ANALYSIS
