2012 Ends On A Strange New High
Excuse me for my slowness. I have been off radar for 2 weeks and I come back to a different reality.
10 days ago, we had the Japanese elections, the fiscal cliff deadline, every country revising their 2013 GDP outlook downwards, China going for austerity, the usual Eurozone splits ….
Nothing has changed except that the world did not end on the 21 Dec, Nikkei is up 12%, Shanghai Comp even more at 13%, Silver is down 10%, USDJPY up 5% and APPLE stopped crashing.
I do not know what I have missed here and it looks like Mr Market’s got a new management team. The pros tell me I got it wrong so I think I better sit out this year end and I am seeing things in the continuous cluster of white candles (UP) on my charts and noticing that the bushes around the ash trays downstairs have doubled in size overnight, sprouting a serious number of green shoots, no doubt because of the heavy rains.
Just looking at everything around me and permeated in confusion.
Asia is doing great except for Indonesia and Sri Lanka. Commodities doing well except for Gold and Silver. China is going on austerity which is bad news for the world.
Honestly, I am such a lousy trader because I am discretionary, as I have been told today without been chastised.
So what did I do ?
I looked at the EUR/USD chart again. Some say reverse head and shoulders but I squint a little and I saw it !!!
DOUBLE TOP !!! Short and target 1.3080.
There goes and have a great weekend !!
And Olam bond prices for the followers.
|OLAMSP 6 10/25/22||SGD||90.44|
|OLAMSP 5 3/4 09/20/17||USD||93.71|
|OLAMSP 2 1/2 09/06/13||SGD||97.12|
|OLAMSP 5.8 07/17/19||SGD||90.85|
|OLAMSP 7 09/29/49||SGD||85.01|
|OLAMSP 6 08/10/18||SGD||92.05|
|OLAMSP 3 02/25/13||SGD||99.24|
|OLAMSP 7 1/2 08/12/20||USD||95.20|
|OLAMSP 4.07 02/12/13||SGD||99.43|