MAC Diva

I feel like doing some extra ranting today, especially after reading this article about class warfare. Scroll down if you wish to skip my JNSB...

Before I left my job, I overheard a key female official telling someone else at the company that I would be working at McDonald's. The fact that these were supposed to be my colleagues made me more resolved to leave and attempt to do better. So, was the recent sell-off a disappointment? Yes. But did I ever consider taking to the streets along with the Occupy Wall Street Jerks and become a modern day hippie? No!

We live in a capitalist society and 99% of the time, it works. I firmly believe that the global economic recovery that occurred from mid-2009 through to early 2011 was only possible because of TARP and other bailout measures that governments around the world took during the Lehman aftermath. Over 1.5 million NFP jobs were re-created in the US following these efforts and the US government was able to bank more than $35 billion in profits from TARP. Don't forget that people also work on a free-lance and temp basis now, so these probably don't get factored into the NFP numbers since those employees aren't usually put on payroll.

The recovery has since stalled because of a lack of confidence in these very same governments, so I disagree with anyone who says that Wall Street is the cause of the double pip recession. Wall Street might have been one of the key causes of the first crisis, but Global Sell-off II: The Sequel is primarily caused by a lack of political leadership, which undermines business and consumer confidence everywhere. Moreover, Generation X + Y grew up with totally different mindsets where we feel we are 'above' certain jobs. Perhaps McDonald's or other such places is hiring, but would we work there? Would a prestigious-college-educated person seriously consider working there even if it were the last option?

How absurd is it that Bernanke passed the $400 billion Twist before Obama is even able to get his job creation plan to the Senate? Obama should learn one word: veto, but he's on the right track because construction workers should definitely be put back to work - and the only way we can do that is through more government stimulation of sorely-required infrastructure update projects.

Anyway, back to trading...

'What once was resistance could become support.' - BFF Forex Broker

If I learned anything from BFF (who I don't talk to anymore since I accused him of reading the Four Hour Work Week - read it, it's good - but kind of impractical), it's this important observation.

Anyway, we got a dose of 'what once was resistance now becomes support' in full force with JRCC today. It closed the day with a +16.40% performance, although I was only able to catch $0.38 per share of the move.

I look back on this, and in hindsight, it would have been better to get into the JRCC trade this morning rather than yesterday since it hit $5.41 after my entry at $6.08. I'll take note for next time, but check out this beautiful JRCC chart. After the MACD crossover, people were scrambling to cover their shorts, pushing prices up by a half mile. I also found a new indicator called 'Money Flow' on the MarketWatch charting system. It looks like I've become Unofficial SpokesDiva for MarketWatch, but I would like to clarify that I am not affiliated in any way to MarketWatch. I'm only using them since they're free and pretty reliable.

If my 50% daily Fib level test is still valid, then JRCC passed with flying marks today, closing just 3 cents below its high of $6.50. Is this a psychological rejection of $6.50, or is more upside still to come?

If Nasdaq is any indication, then the fact that it closed firmly above the DJIA and S&P means that the grilling is ahead; this is just parboiling!

+7.56% SBA

+1.75% Roth IRA

+1.44% DJIA

+2.95% Nasdaq

+2.25% S&P

I'm going to test out my new trading strategy with a few other stocks. I have a feeling every stock will react to different parameters, so discovering what those parameters are will take some exploration.

Lord, please let this be the beginning of a fantastic Q4 for all the ForexDivas in the world - and our cronies.