Another secret ...
We are now approaching an important resistance point in QQQQ (Nasdaq 100 index ETF). If you remember, last Saturday on this blog I said this week looks positive. Indeed, we have had a string of up days. The QQQQ now stands at $38.91 - very close to the $39 resistance price.
There's another reason to be cautious. Tomorrow is the deadline for Iran to tell us their intention regarding the nuclear program. As you know, I do not expect good news. Iran has been able to do whatever they want so far without any consequences. They are using the oil as bargaining chips. This situation will not last (just like I said the Israel situation will not last). As if this is not enough, Mr. Bernanke will speak tomorrow. Bottomline: we will see the market turning one way or the other by the end of tomorrow. If QQQQ closes decidedly above $39 it's bullish. Otherwise, market might fall again for the last time in this year (new low maybe?).
The smartest thing to do is to wait for the confirmation for clear direction before placing a wager. However, I have decided to place some wager now - just incase (all I need is to have one of the two guys (Bernanke or Mr. Iran) to say something stupid). I have QID sitting overnight.
Tomorrow marks the last day of August. Time really flys doesn't it?
I will post Acetraders latest performance figures soon. No real changes to our portfolio for now. Most of you do not own the whole portfolio. If we were to experience a down turn, please use this last chance to add to your holdings. Save money - have ammos ready.
P.S: Another secret to success revealed: You need three (3) things to be financially successful, they are: TIME / MONEY / KNOWLEDGE. If you are missing any one of these, it is quite unlikely that one will enjoy financial success.
If you are young, you already have the most important component - TIME. But you don't have money? Then save at least 25% of your earnings. Do not waste your hard earned $ to drink $5 coffee at you know where. You can not enjoy all you want and still have money (unless you are born rich). BTW, rich people tend to not read blogs like this. Lastly, gain knowledge by reading right materials and hang around right people. You learn a lot simply by hanging around right people. I will reccommend some books in future notes.
There's another reason to be cautious. Tomorrow is the deadline for Iran to tell us their intention regarding the nuclear program. As you know, I do not expect good news. Iran has been able to do whatever they want so far without any consequences. They are using the oil as bargaining chips. This situation will not last (just like I said the Israel situation will not last). As if this is not enough, Mr. Bernanke will speak tomorrow. Bottomline: we will see the market turning one way or the other by the end of tomorrow. If QQQQ closes decidedly above $39 it's bullish. Otherwise, market might fall again for the last time in this year (new low maybe?).
The smartest thing to do is to wait for the confirmation for clear direction before placing a wager. However, I have decided to place some wager now - just incase (all I need is to have one of the two guys (Bernanke or Mr. Iran) to say something stupid). I have QID sitting overnight.
Tomorrow marks the last day of August. Time really flys doesn't it?
I will post Acetraders latest performance figures soon. No real changes to our portfolio for now. Most of you do not own the whole portfolio. If we were to experience a down turn, please use this last chance to add to your holdings. Save money - have ammos ready.
P.S: Another secret to success revealed: You need three (3) things to be financially successful, they are: TIME / MONEY / KNOWLEDGE. If you are missing any one of these, it is quite unlikely that one will enjoy financial success.
If you are young, you already have the most important component - TIME. But you don't have money? Then save at least 25% of your earnings. Do not waste your hard earned $ to drink $5 coffee at you know where. You can not enjoy all you want and still have money (unless you are born rich). BTW, rich people tend to not read blogs like this. Lastly, gain knowledge by reading right materials and hang around right people. You learn a lot simply by hanging around right people. I will reccommend some books in future notes.
posted by Jaewoo | 4:27 PM
1 Comments:
For the readers who might be wondering the why Jae hasn't updated this blog...
He is vacationing with his wife and while follwing the market on a limited basis, he is unable to post any comments.
Jae, BTW, the chocolate's name is Ferrer Rocher.... feroreererer.
Post a Comment
<< Home