Thursday, August 4, 2011

So This Is What It Feels Like To Be Two Years Too Early...


In the words of BFF Forex Broker: disheartening... dismal...

And in my own words: disillusioned, dismembered, just plain dissed... kind of like - in BFF's words - like a parachute with little puffs of air here and there. Only, the air is piping hot.

It was tragic today and my trading account balance is starting to look like 2009 levels already. Thankfully, I didn't jump all in with the capital injection from 9FM. But I took action too late. I let the retracement hit me on the way out, undermining my bottom line.

I revised my JPM bid a few extra notches downwards, using dividend yield to target bid pricing. I further changed the order to a one cancels all and added a commodity play as well as another financial institution for a MAT order that fuels my trading desire.

The real question is whether JPM is still a good investment. Recall the onset of the global financial crisis. It started when investments that were then deemed as good as gold later turned out to be a hot potato. Three years on, the fire fighters that put out the global banking fire are starting to feel the heat. So did banks like JPM put most of their eggs into baskets like US Treasurys? And if so, what are the implications?

So far, my SBA hasn't hit its 23.6% Fib retracement yet, but there's no telling whether it will in this environment. I'm going to have to mull about this a little more because I'm not so sure JPM is a great buy any longer even though its balance sheet is clearly fortress. But Lehman supposedly had a great balance sheet too.

Even my old home base, Belgium, is under increasing scrutiny.

I'm tucking my Easter Bunny Ears away and waiting for Santa. For now.

Yesterday:

+0.38% SBA
+0.09% Roth IRA
+0.25% DJIA
+0.89% Nasdaq
+0.50% S&P


Today:

-3.60% SBA
-4.09% Roth IRA
-4.31% DJIA
-5.08% Nasdaq
-4.78% S&P


Tomorrow:

US Non Farm Payeeeee Day + Unemployment Rate + Consumer Credit m/m




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