17 Feb 2014 Market Update and Action Plan (Revised)

Posted on Posted in Weekly Featured Articles





ASX – Expect to follow DOW going up for at least a higher high if not new high (50% chance). Next MAJOR turning point is 28th February.

DOW/SP – still got 50% chance to hit higher or new high. Last 2 days they surge but have lower volume, so we might also see DOW pull back from here too-50% probability

Gold/Silver – Expect to top around late Feb. For quick trading purpose, Gold may drop Tuesday and Wednesday to 1280-1300 before rally again

note: I only trade with 70% conviction (probability)


Action plan: 1. Wait to short banks, ASX, DOW around late Feb

2. Buy BDR SLR on dips Wednesday/Thursday

3. Buy BDR SLR today (if can get reasonable entry) but sell all on Tuesday

4. Short FMG (short focus) from 5.75-5.85. Short AGO from 1.09-1.11

5. Hold AUDUSD Long and may close for profit this week

6. May take some profit in gold trade tonight or tomorrow morning. Hold Silver till at least 22.20-40.

7. May buy back gold around 1280 ( if drop there)

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