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Danville

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thanks Dan, i'm gonna safe this one as well!! :lol:

 

yeah rossw, you have the point about tax cuts and cycles! at normal down cycle i'd agree with you, but this isn't a normal one, it's a mother of all down cycle, if let it play out it's self, the mental scar in people's head will need many many years to heal.

i reckon spend big and wisely could prevent depression happen. anyway, we traders should've keep close eye on how these policy play out and act on accordingly.

 

too much fund raising that dempened our financial sector, it sucks out too much of cash that sit on the sideline, that's a big worry for our market atm.

buy little stake into big cap that been sold down heavyly seems work most of the time with curent market volatility. and scalping with news flow pays good as well.

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oh and here are my ramblings from the index today.... what a slooooooow day

 

 

 

<H3 class="post-title entry-title">Thursday 5 Feb </H3>9:50am - so after a shit overnight/yesterday arvo, lets see if today can be any better. Opened down a fraction at around 3390. SUN is in a trading halt - another company raising capital. Where's all this extra capital come from? There's gotta be 20-30 bil raised over the last few months.

 

10:20am - down at 3380, 10 min oversold. 15min not quite. BHP/RIO charging, up 5/6.5%. Banks off a bit.

 

11:15am - that earlier setup might've been good for 25 points at the most, if you picked it perfectly. Been rangebound this morning, not a whole lot of action.

 

11:40am - was that a tradeable spike down into the 3360's? dunno. busy with work.

 

1:55pm - glad I've been busy (ish) with work, 10 point range for about 2 hours.

 

2:10pm - often something good comes out of money morning. Today it was just a simple one that stood out: "Remember, trading isn't about being right, it's about how much money you make." I might need to keep that in mind when I think that yesterday I picked the trend (was right) a couple of times, but the time I actually tried to trade I lost money. Index is still boring, currently 3377.

 

2:36pm - banging its head on the top of the range (3383) will it finally break out?

 

2:41pm - RALLLLYYYYY!!!!!!! 3387. Woo hoo. i am so bored. so.. do i trade countertrend, or breakout and with the trend? More likely I'll just go back to sleep

 

2:54pm - haha, what a slow day. Rally got up to the high 3490's (so about 20 points) and the 5/10min are showing overbought.

 

3:48pm - hmmm looks like that was a double top just before. Hard to know when to take them. It seems like they become visible after the candle has completed. But by that time it's already started the move.

 

4:20pm - after another crack at 3400 it finally fell away. dropped about 25 points. so there's still been a couple of moves that could've been profitable, but nothing that obvious (to me at least) or all that big. closed the day at 3371.

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hahaha

bochman find new indicator called "Dan/eb action"

 

bought ANZ little too early $12.75, it's tiny stake so i dicide to keep it at end of the session

here is a joke Dan, i find in my male box.

 

===========================================

The pending stimulus package explained:

>

> Sometime this year, taxpayers will receive an Economic

> Stimulus

> Payment. This is a very exciting new program that I will

> explain using

> the Q and A format

>

> "Q. What is an Economic Stimulus Payment?

>

> "A. It is money that the federal government will

> send to

> taxpayers.

>

> "Q. Where will the government get this money?

> "A. From taxpayers.

>

> "Q. So the government is giving me back my own

> money?

> "A. No, they are borrowing it from China. Your

> children are

> expected to repay the Chinese.

>

> "Q. What is the purpose of this payment?

> "A. The plan is that you will use the money to

> purchase a

> high-definition TV set, thus stimulating the economy.

>

> "Q. But isn't that stimulating the economy of

> China?

> "A. Shut up."

>

> Below is some helpful advice on how to best help the US

> economy

> by spending your stimulus check wisely

>

> If you spend that money at Wal-Mart, all the money will go

> to

> China.

>

> If you spend it on gasoline it will go to Hugo Chavez, the

> Arabs

> and Al Qaeda

>

> If you purchase a computer it will go to Taiwan.

>

> If you purchase fruit and vegetables it will go to Mexico,

> Honduras, and Guatemala (unless you buy organic).

>

> If you buy a car it will go to Japan and Korea.

>

> If you purchase prescription drugs it will go to India

>

> If you purchase heroin it will go to the Taliban in

> Afghanistan

>

> If you give it to a charitable cause, it will go to

> Nigeria.

>

> And none of it will help the American economy.

>

> We need to keep that money here in America. You can keep

> the

> money in America by spending it at yard sales, going to a

> baseball game,

> or spend it on prostitutes, beer (domestic ONLY), or

> tattoos, since

> those are the only businesses still in the US.

>

=================================================

so funny!!

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