About Me

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I am a young invester/Trader, i mostly focus on Short term or Intra day trading on the equities or Forex markets. I have recently completed my Bachelor of Commerce double major in Finance and Property. I have also completed my RG146 in securities and Financial planning and while trading is a passion my desire is to work within the stockbroking industry or as a trader for an investment bank. This blog I have set up to help share ideas to others on trades and tips i have picked up from my time in the market. I hope you enjoy my blog and some of my ideas :)

Twitter / scilliams

This blog i have designed for a bit of fun, education and sharing of my thoughts in regards to trading the ASX or general equities trading and also FOREX trading. I am no expert and nothing on this blog should be taken as financial advice, it is merely just a tool for myself to share any trading thoughts i have and for people to enjoy reading :)

Tuesday, December 1, 2009

The Correction? Incorrect?

Well it is now the question on most people lips. Is the market going to correct down and put an end to the dream run we have had from March.

Well this is a chart of the XJO that i just did and am rechecking over to make sure that i am correct because currently the futures are up a whole heap and the UK just was up over 2% and i have over $40k worth of short sells... Tomorrow might be ruff... But for the week? Well silly you might be saying opening a short but the plan was the monday would rally, tuesday would be up and then short into the highs, i did time it a bit early and decided to hold them over the end of the day then looking at the futures i began to have second thoughts.

I am still going to hold them tomorrow and close them friday because i do still strongly believe that the market is going to fall over. This is my analysis of the XJO Chart and why i think maybe this might be the last leg up :)

xjo 1-12-09

Then again if it breaks it to the upside maybe the dream run will continue...but looking at all the signs i do find this much less likely... Anyway if im wrong i will lose money on my shorts... believe me i am still stressed hehe

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