Profit taking will take place tomorrow !
Monday, June 8, 2009
11:59 am - Pelikan has broken thru rm1.30 with some vol !
Watch Pelikan as it closed today ! if it closed above rm1.30, it warrants a buy if it can take higher. Put your stop at rm1.20
10:10 am - Market Outlook from Bill Wermine !
Dear Traders,
Martin and I just returned from Singapore this weekend where we held a 1 day investment program for a group of investors/ traders.
Sentiment appears to be improving frrom our last Singapore visit 3 months ago. Customer traffic at the malls is picking up. Financial institutions are hiring again. More tourists are visiting the zoo and other attractions.
Because the culture of Singapore is a culture of thrift and saving rather than debt and spending, it appears that Singapore will emerge from the economic slowdown without much damage. Singaporeans are resilient and self reliant as opposed to the US which has a culture of dependency, welfare, food stamps and entitlement.
Combine this with a socialist such as Obama who appeals to the populist crowd, it will take much longer for the US to recover.
I would manage my exposure to the AUD and switch into Euro/ Canadian dollar. The SGD also is a safe haven.
Support on the AUD is .775 while my profit target is 86. My rational is that interest rates in the US may rise to protect China's USD exposure to China. The Chinese are not happy to see their 3 trillion US dollar holdings erode due to financial mismanagement by the Obama wealth distruction team. In order to stop the Chinese from dumping their USD bonds, treasury secretary Geithner made a trip to Bejing to reassure the Chinese government that their USD were safe.
Do you think the Chinese have confidence in Tim Geithner or Obama ? Remember if a monkey wears an Armani suit, it is still a monkey .
One positve point about Singapore is the emphasis on self improvement. Bookshops are filled with investment books
By luck, I found a book called Investing Against the Tide by Anthony Bolton. Bolton recently retired as a fund manager with Fidelity investments in London. His performance rivals Warren Buffet- over 20 % average annual returns for 25 years in his special situations fund. He appears to be a very low profile humble man and willing to share his knowledge.
Imagine for SGD 49, the price of the book, you can have a fireside chat with a mutimillionaire investor. That is why reading quality books is a great value. Do you think you could ever meet this man in real life ?
Bolton combines fundamentals with technicals and has a team who use quantatative models for timing and risk management.
One of his most profitable investments was a long term holding of Man Group listed on the FTSE . He invested in Man because of the steady rising dividends, solid management and AHL focus on quantatative trading.
His insights as to how he gets an edge with fundamental and technical research can definitely help you increase your performance. His style is concise, informative, and simple and if you have investing/ trading experience you will appreciate the value of his advice.
I highly recommend this book.
Our traders club event in Penang on 20 June is a go. We have decided not to have a cover charge for the event. FOC and It will be held at the Evergreen Laural Hotel from 10 to 1 pm.
Get your questions ready, - Mr Pong head of research for Jupiter Securities will give his market outlook which is supportive the KLSE/ Gold and commodities. Martin will share a powerful gold timing system and show his backtesting results.
I will be very glad to meet you loyal Penang members who attended our courses and we will explore ways to better support you.
Please let me know if you wish to attend. Martin and I will be coming up on Friday afternoon.
CDs/ DVDs/ books for our recent graduates of Master the Markets are ready for pickup. Call me for pickup. I will be in my office at 2 PM today.
Have a profitable week
Bill
012 685 1207
Martin and I just returned from Singapore this weekend where we held a 1 day investment program for a group of investors/ traders.
Sentiment appears to be improving frrom our last Singapore visit 3 months ago. Customer traffic at the malls is picking up. Financial institutions are hiring again. More tourists are visiting the zoo and other attractions.
Because the culture of Singapore is a culture of thrift and saving rather than debt and spending, it appears that Singapore will emerge from the economic slowdown without much damage. Singaporeans are resilient and self reliant as opposed to the US which has a culture of dependency, welfare, food stamps and entitlement.
Combine this with a socialist such as Obama who appeals to the populist crowd, it will take much longer for the US to recover.
I would manage my exposure to the AUD and switch into Euro/ Canadian dollar. The SGD also is a safe haven.
Support on the AUD is .775 while my profit target is 86. My rational is that interest rates in the US may rise to protect China's USD exposure to China. The Chinese are not happy to see their 3 trillion US dollar holdings erode due to financial mismanagement by the Obama wealth distruction team. In order to stop the Chinese from dumping their USD bonds, treasury secretary Geithner made a trip to Bejing to reassure the Chinese government that their USD were safe.
Do you think the Chinese have confidence in Tim Geithner or Obama ? Remember if a monkey wears an Armani suit, it is still a monkey .
One positve point about Singapore is the emphasis on self improvement. Bookshops are filled with investment books
By luck, I found a book called Investing Against the Tide by Anthony Bolton. Bolton recently retired as a fund manager with Fidelity investments in London. His performance rivals Warren Buffet- over 20 % average annual returns for 25 years in his special situations fund. He appears to be a very low profile humble man and willing to share his knowledge.
Imagine for SGD 49, the price of the book, you can have a fireside chat with a mutimillionaire investor. That is why reading quality books is a great value. Do you think you could ever meet this man in real life ?
Bolton combines fundamentals with technicals and has a team who use quantatative models for timing and risk management.
One of his most profitable investments was a long term holding of Man Group listed on the FTSE . He invested in Man because of the steady rising dividends, solid management and AHL focus on quantatative trading.
His insights as to how he gets an edge with fundamental and technical research can definitely help you increase your performance. His style is concise, informative, and simple and if you have investing/ trading experience you will appreciate the value of his advice.
I highly recommend this book.
Our traders club event in Penang on 20 June is a go. We have decided not to have a cover charge for the event. FOC and It will be held at the Evergreen Laural Hotel from 10 to 1 pm.
Get your questions ready, - Mr Pong head of research for Jupiter Securities will give his market outlook which is supportive the KLSE/ Gold and commodities. Martin will share a powerful gold timing system and show his backtesting results.
I will be very glad to meet you loyal Penang members who attended our courses and we will explore ways to better support you.
Please let me know if you wish to attend. Martin and I will be coming up on Friday afternoon.
CDs/ DVDs/ books for our recent graduates of Master the Markets are ready for pickup. Call me for pickup. I will be in my office at 2 PM today.
Have a profitable week
Bill
012 685 1207
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