Sunday, January 3, 2010

The Daily Note - Looking Forward 2010

As with the last days of the year, full of self-congratulations, the beginning of the year is full of predictions. In a world where we don't believe in astrologers, fortune tellers, psychics or voodoo, it's amazing how much we pour over graphs and charts, much like they do, to foretell the coming year. What we think and what we'll do now may change going forward and it's important to remember that no matter how, change is the only thing permanent. Climates included.

It's not so much what we say, said or predicted, as it is how we can keep up with those changes, day in and day out; how astute we are to the nuances and how well we adapt. Changes are not easy for anyone. We, as human beings, may get comfortable with the satus quo; but we, as traders, know better than to let ourselves sit too long in the easy chair. As a result the only thing I can predict is that like always, this year will take intense work to keep all possibilities in view.

OK, so you want a prediction from me? The charts & stocks will go up, down, sideways and I will still be a $______$. But seriously, no matter what I post, say, plan, shout, profess or generally boast, it's how well I take action which will make the difference for the year. . So it is my actions, and not what I predict, which prove what I can do; and it is my trades, not my words, which prove my predictions.

That said, here is mine for the year 2010: The Dow Jones Industrials $DJI

Short below 10400 to about 10350, breaking below 10320 to about 10270, 10200 then 10127 areas. Break down of 10000 we'll see 9900-9800 retest.
Long above 10500 to retest 10550 breaking above to near 10600 after which 11000 will be possible with regular intervals. Moving higher on strong momentum the 11200, 11400 and 11800 can be revisited once again.

So now, here is to your trades, actions and foretold prosperity, why, because the Universe supports what you want, but you have to take the action to prove it so,

Happy 2010, and as always, Trading, Living and Dancing