Friday, November 12, 2010

Be All That You Can Be...


Maybe I should join the army? The army of the bears - that is. I took one step towards the initiation process by selling BAC almost on the day's low at $12.05. It was a moment of panic that I'm not proud of, although it did yield me +7% in three weeks. There's no logic to my selling though. Recall last week, I was at +12% in two weeks. In other words, I got played.

My plan is to either buy BAC back at my original entry of $11.18 or to buy C at a discount from its most recent resistance level of $4.50. Either way, a test of recent resistance will yield me another profitable run up - if we're not due for another few week sell-off, which as I've mentioned before, is totally something that Wall Street is definitely capable of orchestrating. Obviously, the main question is how low can we go this time? Shanghai fell -5.16% today. That's certainly enough to scare a fraidy cat!

Looking forward to next week's data, though, we have US Retail Sales due out on Monday, which means that if I got played, then the bulls will be in control if we get positive data.

My latest bright idea is to look for two penny stocks - one for the bulls and one for the bears. I'd then take a four figure position in each stock when the price is right and then sell on just a few cent move up. A few cent move up in penny stocks, remember, could be just as thrilling as a few hundred pip move up in the forex. I would focus on the goal of daily profit taking - no matter how small the amount is. I would trade the rest of my portfolio the traditional ForexDiva way.

The good news is that it seems much easier to find a good apartment in NYC than it is to find a good job. At least I won't have to be homeless! I don't know if the door to London is open to me at the moment, although I got the impression that there were at least three open doors within my industry. But I think switching industries at this juncture, whilst I'm still relatively young, wouldn't necessarily be a misstep. In fact, it could open up many opportunities to me, especially if I go into a field where the male:female ratio is much more favourable, if you know what I mean. My first priority is work though!

My report card today:

-2.71% on the SBA
-1.47% on the Roth IRA


Oh, will you be my Medicine Man? Because I think I need a band-aid on my broken ankle... LOL.

Have a good weekend, HSFTs!



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