Wednesday, April 28, 2010
On a much more serious note, I have been tracking bond yields for the past few weeks. I noticed that there hasn't been that much fluctuation.
I think that a sustainable push up in the equities market is only possible if we get:
1. an exodus from the bond market
2. an exodus from gold into oil
So, my question is... where has all the moola gone over the past few weeks?
It can't be into more bonds because bond market yields have no more downside potential, meaning bond prices can't get any higher. Short term bonds in the 3-month to 2 year range in all categories from CDs to Treasuries to Municipals are all yielding in the low single digits. The best yields so far seem to be 20 year Municipals A bonds, yielding 7.1%.
That is essentially investors saying that they would rather be in 20 year Municipals A bonds rather than being in what is perceived as higher risk assets such as equities. In my diva opinion, that's ludicrous. People would rather get 7.1% a year for 20 years in a Municipal bond rather than be invested in the stock market? Ironic + ridiculous given all the news on Greece and now Spain! There are still better bargains in the stock market than the bond market.
So, I looked at gold and gold is still stuck in a Bimbo Limbo of its very own. It's been ranging since January and even with all the boos surrounding the European Debt Dilemma, we haven't seen a new high yet.
What about our dear friend, Franc? Even Franc didn't strengthen much against the USD. Since the USD has been rallying, I think we can see some more upwards potential in the equities market even though the sky is falling - yet again.
I suspect a lot of cash is now off the table and it has to go somewhere. Where? In real estate?
Regardless, the real beneficiaries, of course, will be the FWFs on Capitol Hill.
Oh, it was already in training bra territory? Right. So that caused more of a whoop there it is than FOMC.
Hit me, Bernanke, one more time...
What you got boy is hard to find.
I think about it all the time.
I'm all strung out.
My charts are fried.
I just can't get you off my mind.
Because your extended period is my drug...
I don't care what people say
The rush is worth the price I pay...
Did he even mention extended period? Who knows, who cares? But DJ ForexDiva is back and my portfolio was really much happier today - except for the GBP/USD long I'm still in, which I shall place on the backburner for the time being. I got pan fried! Like rice. But my portfolio's slightly smokin'.
+2.28% on the standard brokerage
+1.83% on the Roth IRA
BAC did not retrace today. Good news either way for me, but I'm really watching for it to hit the $14 level between now and July - right before its next earnings announcement.
Tuesday, April 27, 2010
A very big oops just about sums up my portfolio for today.
-3.65% on the standard brokerage
-3.76% on the Roth IRA
It was not beautiful and on behalf of all diva-kind, I do not approve this retracement. This Goldiggin' Scandal has reversed weeks of hard work and Bernanke did not help.
I will take the high road and view this as an opportunity to add to my portfolio rather than be all Fraidy and shoot myself right in the foot again. Having said that, BAC options chains do not look good. If we're lucky, we may be able to buy at $14 again between now and July. I am actually personally looking forward to this. After I got played like air piano at the $15 level, I've been waiting for a retracement that has never happened. Perhaps this is the moment!
I did not pay up for BAC... We can lose our marbles, but we shall not lose our standards - or our chastity. But that's another story. My trading chastity is not exactly pristine, now is it?
Here I was, thinking I was about to become some lyrical miracle with another one-hit wonder, when Bernanke hit a home run. Talk about upping the batting average. For once, Bernanke did not tank the dollar, but he did kill the equities market. I think he even hit GBP/USD with his bat. That was one hit, Bernanke! I got black and blues along with the Guys of London. I am watching the 1.52 area very, very closely. I am questioning my judgment and wondering whether I should get an annulment with this GBP/USD long position.
I think I've fallen in love and I told myself not to get emotional. After being in this trade for such a long time, maybe it's time to abandon the trendship and call it a day? But tomorrow's FOMC. The end of the month is also just a few bars away. Plus, I really want to find out how hung this parliament is. I am almost 100% certain that once the political uncertainty is alleviated, seasonality will work its magic and the Guys of London will be the Most Alpha Males on Earth once again. Winners don't quit and quitters don't win. Right?
The European Debt Dilemma, however, is a big question mark. In previous years, it wasn't that much of a going concern. I'm going to have to ponder this a bit more. If the GBP/USD Weekly Chart closes with some semblance of stamina, I am going to hold onto this horse a bit more.
Let's dust ourselves off with those feather dusters, Guys of London!
Ooohhh... whatever you do, don't hurt me.
Monday, April 26, 2010
It was not a good day for my portfolio and I'm trying to distance myself from the F Word. The F, of course, is for Failure.
-2.3% on the standard brokerage
-3.1% on the Roth IRA
The Guys of London, however, are back and really, really alpha. It's no surprise that they're capable of such mischief. They hit 1.5497 as a high today. That's very naughty, Guys of London! I bet they stopped a lot of people out. But I reckon this will continue into the summer months. That's usually when they're the most alpha... Getting ready for summer holidays and such. Perhaps it puts them in that special kind of mood.
Is this the week we'll finally see a weekly close above 1.5436? Well, haven't we got another Bernanke Soapbox Moment and FOMC this week? Is Bernanke ever USD positive? It's like, when Bernanke talks, turn up the wok and cook up some smoked pips a la USD shorts.
What have I been smokin'? Apparently, not enough pips.
And whilst I'm at it...
If you don't pay attention to news, you'll get abused.
If you don't follow the news, you're gonna get screwed.
If you don't heed the news, you're bound to get black and blues.
I'm so bimbo, but why not... I've had a bad day. I'm swimming in work and ticking off all the things I didn't do, but should get to asap before blogging some non-sense. The best thing to do is laugh a little.
Thursday, April 22, 2010
The Guys of London have been swinging me around and I'm practically breathless and definitely confused. At best, I was up 30 pips on today's high. So do they love my prices or not? Please don't hurt me like that again. I'm financially fragile and vulnerable. And I need real action - fast and maybe a bit more intensely.
After paying more attention to economic data announcements, I've started noticing levels that tend to be in play whenever an announcement gets released. It makes me see price action from a different perspective. So, I'm starting to ponder why price action occurs in the fashion that it does.
The market is comprised of a fusion of different players. Some do air piano and others bring out the violin. Others are momentum players whilst some are contrarians. I think when I finally figure out these footprints in the sand, hiding behind a coral reef will become much easier.
My portfolio's sadder than me today...
-0.46% on the standard brokerage
-0.49% on the Roth IRA
Retirement... is that in the cards for me? My portfolio has recovered a lot, but I was expecting a lot more. I am watching bond yields every day.
I think another leg up can only occur if short term yields on CDs and corporate bonds start increasing. This would indicate an exodus from the bond market occurring, signifying increasing investor confidence. It's also possible that once tax refund cheques start arriving, we might see a bit more sizzle.
Bond yields are still ludicrously low according to me. The good news, perhaps, is that they bond yields really have not been decreasing at an accelerated pace, which tells me that any news on Greece, Gold-diggin' Sachs, Obama's War on Wall Street, et al, is not really being acted upon. The bond market can only really benefit from real fear in my diva opinion.
Wednesday, April 21, 2010
The Guys of London got out their Bwahahas today in time for tomorrow's 5 Star Event. It's their Big Moment... are they going to shine and make my position sublime?
Notice how once there's any economic data announcement, all the talk about their hung parliament fades to the backdrop. It's like that Margaret Thatcher quote... "I always cheer up immensely if an attack is particularly wounding because I think, well, if they attack one personally, it means they have not a single political argument left."
Something else fading to the backdrop? My portfolio!
-0.69% on the standard brokerage
-0.02% on the Roth IRA
I've got a high beta stock that doesn't much move now in the name of Harry Winston Diamond Corporation. I've got another high beta stock that makes a very big impact on my portfolio even with the slightest shift in the name of Citifrog. I should be kinder to C and show it more market respect. My portfolio recovery still depends so much on C... it gets me thinking... Should I be rebalancing my portfolio any time soon?
I haven't actually got any place to move the moola if I do rebalance my portfolio. So, I'm going to have to do more homework and think vertically, horizontally, all sectors, any sector. In two words: open relationships.
MS is still bringing my portfolio a bit of plaisir and earnings were much better than expected.
That does not mean we should be resting on our corals. We do not want to become International Women of History.
OK, those were two bad jokes...
Tuesday, April 20, 2010
Today, I decided to try out my little black dress setup on CAD/JPY. All the indicators lined up and there were little black dresses everywhere, so I shorted CAD/JPY at about 91.792. Then, a little voice inside me said, remember that time when we got plucked by missing our target by 5 porkin' pips? There was the BOC Rate Announcement and Goldman had just reported earnings. There was a very distinct possibility the little black dresses might need to come off - and fast. So, I just took my 4 pips rather than risk getting plucked again. It turned out to be a very good move, especially since I'm still in Bimbo Limbo with the Guys of London.
Next time, though, I'm going to have to learn to read sentiment a bit better. I thought the Guys of London liked my prices since they kept hugging them. Then, they ignored my little red dress and headed south after doing the whole 67 pip thing on me first.
On the equities front, two consecutive trading days that were much better than expected did not leave me any sweeter.
+2.65% on the standard brokerage
+3.64% on the Roth IRA
+1.46% on the standard brokerage
+1.26% on the Roth IRA
The Guys of London are inching back higher, but they still leave me gasping for more. We're so close and the stove's definitely hot. We have MPC Meeting Minutes and Claimant Count out tomorrow. Are the Guys of London going to get their Bwahahas out so I can make some more moola moola moo?
I've marked 22 April 2010 as the Guys of London's Big Moment. Yes, it's trend on trend time with five major events related to the GBP/USD pair... And if that's not enough, 23 April brings more potential for electric price action.
If we get any back-to-back back-up-the-truck luck, we might see 1.56 this week. Fingers and trading legs crossed!
Oh, just in case anyone thought I'm not talking enough... I was trying to call my BFF forex broker and dialled 877-GO-FOREX instead of 877-FOREX-GO... You do not want to know what happened.
Why do these types of bimbo incidents always happen to me?
Monday, April 19, 2010
That was a huge retracement there, Guys of London! Congratulations on the quick and racy price action.
I think I shall wait for an equally alpha setup to average out of this painful position... oh, I suppose waiting for a reverse H&S pattern could do?
I refuse to believe you don't do bullish divergences on Weekly Charts... or Chinese girls? I can hardly fault you. Not everyone's alpha enough for that kind of volatility.
We have a Bernanke Soapbox Moment, sponsored by the FOMC, later today at 2:00 pm GMT.
Will the enticing "extended period" language be used?
Please, oh please, professor...
Sunday, April 18, 2010
I'm pleased to report I'm officially on champagne basis with my local Hermes boutique. They're the Louis Roederer type, so yesterday's visit to Hermes was pure fun. It wasn't Cristal, which is actually produced by Roederer, but I'm sure that's in my foreseeable future. In case anyone's wondering, they were the ones serving moi champagne. What? It wasn't like anyone can accuse me of stalking my very own matching Hermes Kelly handbag + wallet. I was in the neighbourhood and my Hermes representative told me I can have my initials engraved on both my Hermes Kelly handbag and wallet, so I had real business to discuss.
Anyway, my -82.2 pip loss at the beginning of last week was at the back of my mind all week. In hindsight, I did not have to pluck myself like that. It just goes to prove my theory that in most cases, it is better to trade yourself out of a move like that. If anyone else was following GBP/USD, there was still a lot of give and take between the bulls and the bears. The market doesn't deliberately set out to kill everyone's price action. If you've got enough Tory Glory, you can trade yourself out of a move against you most of the time by targeting key retracement points - even if your account is the size of a bike, as mine is. However, some of these losses are perhaps necessary. I was countertrend and the move up was quick and racy. In other words, I got Fraidy.
Honestly, I am feeling much more comfortable at this point with the Guys of London hugging my prices so closely. How do you know if the Guys of London love your prices? They'll keep touching them. And they'll give you perhaps a gentle 30 pips to begin with and retrace and the next time, they'll touch your pips a little more. This time, it'll be a lot faster and a lot less subtle. You'll just know. Blood will be rushing through your veins every time you think about how they gave you 67 pips and then retraced ever so slightly and are now even getting ready to do your bullish divergence.
So, we've got a very smokin' bullish divergence on the GBP/USD 15 minute MACD. Plus, we've also got a very nice bullish divergence on the GBP/USD Weekly that I nearly didn't notice.
Why is the Man Who Broke the Bank of England mum? Is it because he is about to become the Man Who Took the Bank of England to Financial Heaven? Who knows? But so far, I've got divergences, seasonality, and the Most Alpha Guys on Earth on my side.
If they do the whole dark suit, dark tie, dark rimmed glasses thing, they'll totally have the whole sexy professor look down pat. They've already got the accent.
Here's a smokin' chart to rev up your engines...
As silly as it sounds, this Confessional Booth Time is actually helping me so much in my trading. I'm admitting my mistakes and thinking about ways on how I can improve my trading the next time 'round.
That's how it's done in Belgium... and I'm hoping the Guys of London do Chinese girls!
Friday, April 16, 2010
So as the volcanic ash was spreading throughout European airports, I was spewing venom.
The Guys of London left me totally tantalised today. They're off to the pub and it doesn't look like GBP/USD is going to close above 1.5436. But I'm going to give them a second chance because that's the sort of woman I am. Well, especially when I spot a bullish divergence this smokin'. Check out this GBP/USD 15 minute dark-rimmed glasses sporting professor. It'll hang anyone's parliament. Talk about blow by blow election coverage... Let's see if a bit more massage will do the trick. We need more choppy action around the 1.54 erogenous zone please.
And may I just mention that today's equities market sell-off was in favour of bid volume? This seems to be profit-taking and not fear-based selling pressure.
-2.54% on the standard brokerage
-4.27% on the Roth IRA
Sorry for the mistake on C earnings announcement. It was BAC - not C. Our beloved Citifrog is only announcing results on 19 April 2010.
I've been the April fool this month with these earnings announcements. I thought I had a date with C, but it was with BAC - that sort of thing. It'll happen often when relationships are this open.
Thursday, April 15, 2010
Wednesday, April 14, 2010
So the DJIA closed above the 11,000 Nymphomaniacs today and volume on C surpassed 1 billion.
The past few days, healthcare, pharmaceuticals, and some energy sector stocks have seen a sell-off.
On one hand, I'm happy that my portfolio is seeing quite a stellar recovery. On the other hand, I'm worried that when I actually have more money to invest, I won't have anything left to buy. It now comes down to... are the stocks in my portfolio alpha enough? What is the best way to add to a position with a trendship with benefits?
HWD has been standing still and if I can figure out the times when it's not going to move and move my cash elsewhere during that time, I'll be able to improve the efficiency of my portfolio.
It's interesting to note that so many mining sector stocks are already well on their way back to pre-crisis levels, including AAUK, RTP, and BHP.
I'm going to have to do some more homework because standing still isn't going to make me any money...
But first, I am not that kind of woman and this is not that kind of blog.
I know people haven't been reading my blog for my trading prowess, but I do not want to find any declarations of any sort of love but love for my trading or gold diggin' posted as comments or sent as any sort of fan mail in the future. Especially not from Chinese guys. I don't do Chinese guys! Get your non-trading plaisir from some other woman.
Having said that, I was brought to Financial Heaven today. Does my portfolio now speak fluent French? I don't know... but it's music to my ears.
+4.05% on the standard brokerage account
+4.27% on the Roth IRA
GBP/USD long position... back to gold diggin' territory...
I'm hanging on for dear life to this GBP/USD position. The Man Who Broke the Bank of England was mum on GBP... and UK consumer confidence is out at 12:00 am GMT. Plus, I've got a long term vision now and that's the sort of woman I am!
Oh, Guys of London... brush your pips against mine...
Tuesday, April 13, 2010
We're stuck... in Bimbo Limbo. But one thing's clear to me from looking at the GBP/USD Weekly Chart. The 1.5436 area is a key point to ponder. If we curve up more and form a double bottom, we could be looking at more smokin' hot action further north.
Remember... there can't be a pop without some chop. And once the Guys of London pop, well, they can't stop.
I don't really see any divergences, but it's definitely not that precarious, or is it?
The question is... do the Guys of London go for something as obvious as a double bottom? Well, I guess Agent Provocateur is not exactly subtle, now is it.
I don't know... I'm torn between fear and greed! Isn't everyone?
It's very interesting to note that prices have not touched the 200 period MA for a while on the GBP/USD Weekly Chart and the previous time this happened, it was very bullish. At the same time, I do not want to suddenly start developing conviction for what could turn out to be a very big loser.
Any thoughts on the following?
My portfolio was a second runner up today...
-0.51% on the standard brokerage
-0.85% on the Roth IRA
Upcoming Earnings Announcements for Stocks with Which I Have Open Relationships
16 April... BAC
19 April... C
21 April... MS
Monday, April 12, 2010
Yes... plucked wouldn't begin to describe it!
And NYX? That makes it plucked twice...
Plus, the -82.2 pips... thrice.
I shall keep my powder dry and my head cool. Gosh, but that GBP/USD trade was like one of those Tall European Men who you know are really bad for you, but you still can't resist getting into it. Remember... we're here to make money, not love!
But in today's case, we're here to shoot ourselves right in the foot and put a bandaid over it.
Should I hedge it? With what? That is the question...
This is definitely a moment where I wish I was smarter. Or at the least, have a smarter boyfriend. But I reckon I can do this on my own!
A boyfriend would only be interested in one thing.
Yes, I did a S&R at the exact wrong moment at precisely the wrong level on that GBP/USD short trade I was originally in and I... well, you can guess. I was originally short at 1.536 something and then did a S&R at -82.2 pips. This effectively means if I had kept my trading legs closed Sunday, I would not have had to take that -82.2 pip hit. Why did I have to get Fraidy?
I'm staying in this one for the time being. I was totally pondering how the potential RMB revaluation could affect other currency pairs and since I'm totally out of my depth here, I'll just look at the levels I know matter.
I'll concentrate on what I've been doing... Divergence In Divergence Out. The bullish divergence on the Daily RSI chart is not done and because I was trading with revenge in my heart, I missed the whole leg up from 1.48 something to 1.548... I am now looking at the 1.6 level as a potential target objective. It's not going to be easy getting there and I hope I can make it. If we can get through May without any major hunting incidents, then we're getting into prime time. Once it hits 1.6, though, I'm going to keep moving my target up. In all honesty, we could one day get back to pre-crisis levels with the GBP/USD rate. The Guys of London are that alpha, especially if Bernanke keeps doing the whole soapbox + bubble bath thing with the "extended period" innuendos.
Oh, and I was just thinking about new potential names for my pips with the Guys of London... and also renaming my blog to Spend It & Trend It Like ForexDiva. LOL.
TETSOB in total overdrive...
Sunday, April 11, 2010
Revenge shouldn't be our reason for trading at all. People are probably looking at me and thinking... what are you all "We're from New York and our women are more alpha than your men" for? Do you seriously think you dictate prices because you made a few hundred pips? What about the ones you lost?
However, it's hard not to want to sell when you've been left out of a nice uptrend because you refused to pay 20 pips more. It's even more frustrating to be left out of a countertrend play because of 5 pips. Make that 5 plucking pips. And you know what's even more annoying? I was totally the Trendsetter / Go-getter / Farm-better on this GBP/USD uptrend and I plucked myself by getting fraidy.
So, I've been thinking... what's killing our setups - besides ourselves? What makes that setup work perfectly well one moment, but then leave you gasping with exasperation the next time around?
This previous week, I nearly got run over by two bikes. Seriously. Forget the FWF license-plated cars. In any market, there are careless bikers who don't care if you're GWB or BMW, they just want their 10 pips whether this setup is a De Facto Gold Diggin' Bearish Divergence Stellar Setup that should normally command a 100+ pip move or not. They bought their lot at the right moment and they're going to be Happy Shiny Profit Takers before you get your hands on your 50 Cent.
I used to be happy with 8 pips. Well, whatever, I used to be happy with 1 pip. LOL. But now, I realised it's actually much easier to go for more pips if you can get in at a low risk moment.
It was a nice time to trade last month. There was a lot of give and take. You could have made money trading both sides on GBP/USD. And I was bullish one moment and bearish the next. I traded every divergence I could find. But now, I'm wondering out loud... am I being arbitraged? Bold that.
Because if I am, then I'd need to look for another pair before I go down with this trendship with benefits.
And I promised myself if I get too emotional about GBP/USD and start thinking about how I'll be moving in with the Guys of London and how we'll have a Little House on the Prairie and I'll be all Junk Bond Queen cooking up Gordon Ramsay dishes in my Agent Provocateur, I'm going to look at another pair.
If anything, objectivity has saved me this month.
For now, announcements are heavy on the USD side this week, so this means I'm going to watch my levels like the proper young lady that I am - you know, the chaste, Hermes Kelly toting kind.
This market is hunt or be hunted. It's as simple as that.
My inner voice of reason says: keep the TETSOB in check, ensure your Guerlain Meteorites powder's dry, and switch to a fixed stop in this neck of the woods.
Friday, April 9, 2010
So, seeing the most beautiful bearish divergence on GBP/USD during my LTFWTGOL session, I shorted GBP/USD at around 1.53608. I set a target for 1.531 and missed it by five plucking pips! I was so looking forward to kicking off the weekend with some more smokin' hot slow roasted mouth-watering, finger-licking pips. Since I wasn't at my computer when this happened, I missed a perfectly alpha trade. No worries, the bearish divergence seems to still be intact on the 15 minute RSI and Stochastics. I'm staying in the trade until at least Monday.
To top off the delayed gratification, I obviously was too fraidy to trade that Millionaire Fantasy EUR/USD chart today and missed out on a cool and unrelentless, quick and racy rise to 1.3501. Obviously, I'm still into the self-sabotage.
Guys of London... here's a picture for you... It's seriously real and I suppose the feeling's mutual.
Has anyone else been paying attention to ABK's meteoric +71.47% rise today? I kind of wish that would happen to LEHMQ...
Others on the rise: BAC, C, and MS... all proudly in my portfolio and still very, very alpha.
I'd like to vent on how I think HWD needs a new CEO to keep up the high beta factor. I reckon they should recruit a Tall European Man under the age of 33 with a strong background in luxury goods whose talents are obviously underutilised. I wonder if there's really such a desirable Man of the Century / King of the Kingdom?
Have an alpha weekend, Happy Shiny Profit Takers!
Don't have too many oysters...
Next week is a new week and we're going to pump up those pips!
Thursday, April 8, 2010
I'm not into trading EUR/USD, but I noticed a compelling bullish divergence pattern on the Daily Chart. You'd have to be pretty alpha to trade this one. For the moment, GBP/USD is alpha enough for me.
Do your own homework... and lots of it!
Before people start having inappropriate fantasies about how I'm all Domestic Goddess, cooking up Gordon Ramsay style dishes along with some smokin' hot pips and two hour massages in God knows what, I have to clarify that my Gordon Ramsay is more Gordon Ramsay Plane Food than Gordon Ramsay at Claridges. I suppose it'll go with the whole Mile High Club thing.
But, please hold off from dedicating Pretty Fly For A ForexDiva to me. I will accept songs like... Old ForexDiva Bet A Farm... maybe not.
+0.59% on the standard brokerage
+1.72% on the Roth IRA
I'd like to share how I think I've been making so many pips lately - to me, anyway. I'm now up to +364.92 pips over the past month. So, that's an average of 13.87 pips daily over 25 trading days. That's quite encouraging, isn't it? I'm already thinking about how to better utilise the leverage I have in my account, but I'd like to maintain a level of consistency before getting ahead of myself.
First, instead of using fixed stops, I have switched to hedging only if necessary. This is the MAT strategy I had been blahing about a while back. Study correlations to make this work.
Next, I started looking ahead to important economic announcements that may affect the pairs I'm trading.
Finally, I started paying attention to longer term charts. I've basically been doing what I've kind of known all along, but have been too afraid to do. Plus, something has changed within me. Before, my portfolio was more important to me than me. Now, I am more important than my portfolio. It makes a difference!
Since the Guys of London have been so kind to me, I'd like to send them that song from Annie... Me Plus One. Please, may I ride your trend some more, Guys of London?
Wednesday, April 7, 2010
I never really liked Bernanke, but if he could do this to my portfolio, what's not to like?
+0.44% on the standard brokerage
+2.05% on the Roth IRA
+69 pips overall (I plucked myself again with a Fraidy Cat trade that would have worked out had I been a little less fraidy)
If your trendship with benefits experienced some, shall we say, technical difficulties, I suggest you check out this Warren Buffett air guitar bit. I reckon I'm not the only one having a good trading day. In the arms of the Guys of London, everyone's safe. At this rate, forget the Rolex, we're going to be Jaeger LeCoultre worthy - if we can pronounce it. They're even involved in protecting some coral reefs, so what's not to heart along with the Aston Martins?
On a more serious note, major earnings announcements are expected from:
BAC on 16 April 2010
C on 19 April 2010
MS on 21 April 2010
Am I going to be gleefully laughing all the way to the bank? I don't know... but I do know there is officially a bullish divergence pattern forming on ForexDiva... decreasing liabilities and increasing assets. And it's definitely not a Fraidy Cat Bounce!!
Maybe I will rename my blog to... Queen of Pips? Fit for A Spring Bling King?
I think I should like being ForexDiva for now although my broad-based talents are woefully underutilised since I keep pre-empting my own success...
But carry on... do your own homework and it all comes together even if everyone else thinks you're a laughingstock!
Pun not intended... ok, maybe semi-intended...
So if I'm not mistaken, there's supposed to be a Bernanke Soapbox Moment, brought to you by the FOMC, today in about an hour.
I totally had a divine GBP/USD long trade today. The Guys of London have been so gentle with me lately, giving me some pretty organic growth. I may have inadvertently discovered the market's erogenous zones. There's more to discover, I'm sure. Since this is my first trendship with benefits in quite a while, I'm totally blushing, but on the whole, it's pure electric bliss.
The other day, we could have gotten to at least third base, but I only allowed it to get to first by taking some very quick profits. Today's trade was more tantalising.
I did press the wrong button getting out of this trade, so I only ended up making 77.70 pips rather than the full 81 had I been a little less bimbo. I'll just think of it as a retracement rather than beating myself up about it.
Let's see if Monsieur Bernanke gives us what we are all yearning to hear... those two magical words: "extended period." Again? He can never say them enough! Music to investors' Easter Bunny Ears...
Tuesday, April 6, 2010
I've been looking for some new frogs to snog before they become the next Prince Smokin' Hot Charming.
Some that I think could work out:
AES buy at $7
CPN buy at $8
AEE buy at $24
Since I did my own homework today and studied another 20-30 balance sheets, I'm going to obviously keep my new top secret frog affairs top secret until further notice.
Look around... the energy sector and some FWF sectors are still undervalued and overlooked.
Once upon a time, I would have bought something like AHD... negative book value with 1.1 million in cash and 1.29 billion in debt. If that's not an inside joke, I wouldn't know what is.
Overall, today's ForexDiva results:
+0.53% on the standard brokerage
+0.53% on the Roth IRA
-7.5 pips... very bad timing! There's always someone with a smarter price than you in forex trading... and if you're the one stuck in the wrong side of the trade it's always called stop-running, but if you're right, then it's just price action...
It looks like this week, my Lunchtime Fun with the Guys of London sessions won't be very productive. I'm not sure I'm ready to trade a Try It In the Elevator event such as the BOE Rate Decision.
What? I'm talking about the iPad...
Monday, April 5, 2010
I've run out of analogies today. My portfolio just took my breath away...
Harry led the way with a +11.01% increase. Yes, that's +11.01%... talk about OMG, how did I ever doubt you, beloved HWD of mine?!
+4.68% on the standard brokerage account due to Harry's, um, spirit, which has obviously been uplifted...
+1.01% on the Roth IRA
I am going to keep it up! This isn't going to be some Fraidy Cat Bounce. When I realised my liquid net worth is now up to a good five figures, I didn't even need to faint.
That is a positive sign - for my self-worth, my net worth, and my financial dignity!
Now, if I can only get over the fact that my financial freedom is due for some delayed gratification, I'd probably be an even happier diva.
Sunday, April 4, 2010
Get out your Easter Bunny Ears, Happy Shiny Profit Takers!
The Easter Bunny got to my portfolio early this week and I had some Oh, Oh, Oh It's Magic You Know Wake the Neighbours Type Profit Taking accompanied by the Bwahaha HTEL with some candy to boot (Swiss chocolate).
I am in a relatively better place than I was after my Big Financial Meltdown. My portfolio's been up and most importantly, I have been doing my own homework and I haven't made any major mistakes. My major mistake now seems to be not taking profit at the right moment as opposed to being in the financial dead-ends that I used to be in. But what's the use of being right without taking profit?
I've been on my Hermes Kelly Diet lately, which means no Japanese food and instead, I'll cook up some Gordon Ramsay worthy dishes involving truffles or saffron along with some smokin' hot pips. I can't wait till I can start using champagne in my cooking again. I'll definitely also go for the lobster after this Hermes Kelly Diet is over. Anyway, so far in the past month, I was up +264.09 pips. This includes taking profit on the GBP/USD short that I thought was going to be for better or worse, till financial death do us part. What happened to my open relationships philosophy, right?
264.09 pips... no small feat for my tiny account considering that I now only spend about 2-3 hours per day trading, but I really want to be doing much, much better. I want to ride a forex trendship with benefits this year for some quick and racy ROI!
Other than that, I've been right with C, BAC, and MS. The ones I thought I was wrong on turned out to be right for the most part, including BNHNA, DFS, AA, BX, and BGCP. Then I had an incident with LEHMQ where I used my Crazy Price Strategy, but got too greedy and missed out on the best moment to sell. All in all, it's been good. I am bringing out the gold stars, but I'm also nervous about keeping up this good work in order to recover my account and most of all, my financial dignity.
I realised that trading can either bring out the best or the worst in people. How can I ensure that my trading brings out the better part of me? I view my trading as not only an opportunity where I can build a better and more financially secure future, but also as an extension of me as a person. I take it personally - maybe too personally.
My TETSOB has been my downfall in the past. But this time, I'm hopefully a little less bimbo.
I'm looking forward to attending tomorrow's Brian Dolan webinar since I have a day off. I can't wait to learn something new!
More pips, please...
Thursday, April 1, 2010
Harry got an upgrade today from Scotia, but only advanced +1.32%. Pretty tiny for a high beta stock.
And I can't get my facts straight, apparently. Earnings announcements were already out yesterday. The market also apparently didn't like HWD's earnings results so much.
It seems to me Harry needs to step up the alpha factor at least threefold. Perhaps he requires a two hour massage to lift his spirit... and who better to do this than Nurse ForexDiva?
Since it's Non Farm Pay Day tomorrow, I'm keeping my GBP/USD short for better or for worse. The Guys of London are at the pub already and won't be back till Tuesday, so my guess is that we're not going to see that much of a push up. I've been SO wrong lately. In addition to choosing some clear losers just because I had revenge in my heart for missing out on, oh a few hundred pips, I've also failed to ride the GBP/USD trendship with benefits. Please don't put me back in the kiddie pool!
I admit that I'm now De Facto Bimbo since I was all Sayonara Dollar Bulls the other day and got into a GBP/USD short myself, but I refuse to believe that a bearish divergence like this could fail so miserably - and perhaps that was the problem. Plus, in the absence of economic data, any negative news coming out of the UK could be used as an excuse for a sell-off. The political landscape is just one excuse.
US unemployment claims were less than expected and the ISM Manufacturing PMI figure was positive too.
If NFPs don't please, then this could be the final dig in the Dollar Bulls' Gold Diggin'. We may be too legit to quit, but we have between now and the ISM Non-manufacturing Composite announcement on 05 April 2010 to potentially dash with some cash.
We are in the midst of reversing the whole move down from about 1.5380, which happened around the time of FOMC / BOE Minutes / UK Jobless Claims back in mid March.
My strategy is to get in with another bearish divergence if it presents itself. And if not, then I'll look for another opportunity such as with GBP/JPY or my back up the truck friend, USD/CHF.
Oh, and I was just getting ready to change the tagline on my blog to: That's how it's done in Belgium. LOL.
+2.19% on the standard brokerage
+1.33% on the Roth IRA
Harry or Franc... I'll be your APKS nurse if you fulfill my Financial Heaven daydreams...
Thanks to Franc the Bank and the rumoured SNB Intervention, I booked a net profit of 48.35 pips today, which if it hadn't been for my vengeful heart, would have been about 65 pips.
I shorted GBP/USD last night and after having made a quick 11 pips, I took profit and got into another lot at a higher level. When it started skyrocketing and leaving me with a 17 pip loss, I got out. This trade was a mistake! 11 pips is not a very solid indicator of a divergence trade working out and if price has moved higher than your original entry level, something is definitely amiss. But I didn't realise it then.
To make a bimbo story short, I shorted GBP/USD again today during my Lunchtime Fun with the Guys of London session (LTFWTGOL) for the ISM Manufacturing number because the bearish divergence was still evident and learned a very big lesson: there is a market force that's bigger than our trading egos. And it's even bigger than my trading ego! Plus, do I ever learn?
I am going to fix this mistake. I shorted at about 1.52349. I am looking for another pair to counter it. I'm thinking my good friend GBP/JPY could be it...