To catch a Thief….

It is always interesting to read about Singapore’s favourite knave! I came across this report that was sourced from the New York Times.

AS AN unsupervised young chief trader in Singapore in 1995, Mr Nick
Leeson lost US$1.3 billion (S$2 billion) in frenzied trades in Japanese
stock futures and bonds, destroying his employer, the 233-year-old
Barings Bank.

Level Trading Field does not respect gurus and academics

I came across this thought provoking article sourced from Elliot-Wave-International. The gist of this article is that the trading arena is littered with the financial corpses of many many traders, including well known gurus and academics. Top of the list is the well documented story of Long Term Capital Market and its Nobel Prize winning board.

KL Crude Palm Oil

Yesterday, I was stopped out of my short position in CPO. However, the sell zone is still valid, and I will be watching for the sell trigger again 

KL Crude Palm Oil

12M in upswing of Range, with Demark Exhaustion; 13W in bullish trend, but is at Demark exhaustion; 18D is in bullish trend with Demark exhaustion. Current bar today is a dark cloud, and qualifies for short entry. Sold March contract at 1977. As the entry is based on Demark setup, my time stop will be T10, not T3

SIMSCI

12M in upswing, trading in Primary Sell zone with Demark Exhaustion; 13W in uptrend, but is at Demark Exhaustion; 18D is also in uptrend and is also at Demark exhaustion. Short-entry setup will be the Demark entry

Hang Seng Index

12M is in upswing but is trading at potential resistance; 13W is in bullish trend; 18D has reached Demark exhaustion. Short-entry with either the Turtle Soup, or Demark set up.

My Students’ HomeWork

Both Jonas and John submitted their homework. Jonas  sent me a list of US stocks (AAPL, GOOG, GILD, LRCX, ESRX, NTAP and NVDA), with his analysis and for my comments. John sent me analysis on AUD and on copper. Good work by both!

German Bunds

12M in corrective downswing leg of bullish trend and the support at the 12M Midas enhances this view; 13W is in an upswing leg, with market meeting 13W Midas support; 18D is in downswing, and is now trading at the 18D primary buy zone. Howvwer there is no trade setup at present.

USD/CHF week ending 22 Dec

12M in corrective upswing; 13W in downswing, trading in the middle of sideways range; 18D in downswing attempting 18D range support. However the dominant timeframes suggest a probable retest of the long term support.

GBP/USD week ending 22 Dec

12M in upswing, approaching 12M range top; 13W in upswing and has broken the 13w impluse swing high; 18D is in bullish trend. My stance is to look for buy when market corrects.