Sunday, November 28, 2010

DJIA and Nasdaq 100

US Dollar gained the most since August against six major counterparts as concern that Europe’s debt problem will worsen and military action in Korea will escalate boosted demand for the U.S. currency as a refuge. Souce: Bloomberg
Dow Jones Industrial Average (DJIA)

As per our previous week posting, DJIA had a week of consolidation down and up, highest DJIA has reach is 11205 and 11195 on last Monday and Wednesday, while 10992 is the lowest of the week.

Great call from Sarah to pick long near bottom. :)

Resistance: 11300
Current Resistance: 11200
Current Support: 11000

Personally, this market is difficult to trade now, most of the people may just miss the opportunity, some may ignore, however, during extreme uncertainty and volatility, there's a big opportunity if one keeps his focus and remain sharp!

2 scenario:
1. DJIA 11000 support hold strong, market break above 11200, 11300 and head higher to 11500.
2. DJIA continue its consolidation, test 11200, resisted, bounce back to 11000, break below this 11000 support and dive to 10750.

I favour the 2nd scenario, let me share the experience observing trapezium in EUR/USD (completed last Friday)...
after 1 week of consolidation from day chart, must capture opportunity to short at 11200 region, once missed, and the dive begin, there may be no retracement for us to enter the market.

Fine tune your entry with 30 minute chart when DJIA approaches 11200.

However, if you miss, and the dive has already started... trader can practice initial shadow entry, 50-50 chance of getting an order filled.

Abandon short view if 11300 is violated.

Nasdaq 100

Resistance: 2177
Resistance: 2162
Support: 2135
Support: 2105

Nasdaq 100 performed slightly bullish as we compare to Dow Jones.  As the retail market is strong and last weekend's thanksgiving shopping, I believe Nasdaq has the chance of going higher.

Trader can choose to short near resistance level 2162-65 with SL 10 points away.
Target 2135, and 2105.

==== I spent 3 hours for DJIA forecast again.... >.< ====
Is this due to low productivity during mid night?
Good night traders, hope you like my share, happy planting the best short position in this coming week!


FX Brokers - Singapore

Holders of Capital Markets Services Licence - Leveraged Foreign Exchange Trading
(Total : 19)

Institution Name
  13. OANDA Asia Pacific Pte. Ltd.
Details and Address...

Saturday, November 27, 2010

Weekly Forecast (FX)

A trader with no idea of the price locality in a market trend will naturally has no idea of cut-loss point for his existing position.

Most (new) traders play the game with greed of wanting fast monies but not aware of unlimited losses if sit in adverse trend.  Thus, trading becomes a wager.

New traders always prefer to hit an instant entry when market moves.  This is even worst when market swings or u-turns that shatter them.

*** Never let the market trend runs against you randomly by setting your maximum risk tolerannce. ***

I was once confused how can one of the respected coach maintain his stop loss at 30 pips or maximum 40 pips away?

I checked my trading record, and I found that I have many trading plans that have maximum risk tolerance nowadays.

for FX 40 to 50 pips, for indices, 100 points.

And I come to realise that --- I thought I am good, but somehow, *shy* I am ignorant... Why doubt while the masters can do it? *Bow* to the masters and coaches.
We can make it, we can always target to initiate our entry from top regions / or from bottom regions of a trend, sharpen our entries is the clue.

Don't let greed and fear affect my decision.
If market just did not come to my price, just let it be, tomorrow will be another day.
If tomorrow I still cannot get my entry, just let it be - this shows that my forecast of market trend is correct!

(you know who said this?  Answer: My all time favourite mentor JC said this! during a mindset tuning session with another full time trader)

I just need to be patient, to sharpen my entry, my stop loss, and my target price.

I just need to.

You are right, but you just cannot make the money for yourself, yet.
The time will come.  We just need to work harder.


Major Currency - USD/JPY
Close: 84.08

Monthly Candle: Bullish Engulfing Pattern from Bottom 80.24.
Weekly Candle: continuous of 4 weekly candle going up and up!
Daily Candle: Bullish!

Pick reversal to enter Long: Entry near 83.55. SL 30 pips,
or Short near top region 84.50 - 84.80.

Close: 1.3237

EUR/USD has just completed the whole trapezium and the result is soooooo amazing!
+700 pips profit.
Dear associates, remember to practice and back test and do it again and again.

You miss this, but don't miss the next.

Now EUR/USD has traveled to the next Trapezium Z1 line.
Successfully close below this Z1 line (1.3180) would mean we can prepare to Sell.

Down Trend is obvious, short when market retraces, or practice initial shadow entry to short.

R2: 1.3580
R1: 1.3380
S1: 1.3180
S2: 1.2980

Close: 1.5587

Falling knife.
Falling knife.

Trading near its EMA200 on Daily Chart, Ayumi suspects the market to do some consolidation in the coming week, trading range around 1.5550 - 1.5880.

Will only short when market trade near 1.5880, Target at 1.5400 region.
Avoid trading this pair for the moment.

Gold on 27-11-2010 (Sat)

Start to miss the dark color background already~

Observed a Head & Shoulder pattern in Gold Daily Chart.
R2: 1387
R1: 1382
R: 1375
S: 1350
S1: 1329
S2: 1325

There are too many fundamental news out there that could drive market crazy, if there's outbreak of war, resurgence of euro zone debt crisis, then Gold - the safe heaven of all time~ may just ignore this H/S pattern and fly higher, however, from technical point of view, 1,375 would be a strong resistance for next week.

Forecast Next week (29-11-2010): Gold market to consolidate between 1350-1375.

While I favour to short near 1,375 region, I am looking at Gold to break below 1350 towards end of the week. Stop Loss 5-7 points away.
Breaking below 1,350 will dive to 1,330.
Breaking above 1,380 will lead to 1,400.


Checking the blog comments and went to Black's Blog, as well as De'Trader...

Seems that I have similar experience as De'Trader, has been questioning myself, again and again.  Doubt.

I think I am a little bit worse...Too little action.

I must have been very busy, to work on something, but all these things, may not be as important as it may seem.

Just finished flipping through September 2010 issue of Smart Money over my breakfast.  Bought it last month... Ayumi turned on iTunes and listening to Taylor Swift - Speak Now.  Very nice for a sunny Saturday.

I only have 1 day today for my weekend review and forecast, today will be a full day with my mum, my lovely currency market, Dow Jones, and Gold.

What to do today?

  1. I have renovated my blog:
    • changed the header with my new skill: Adobe Illustrator (I am using CS4, CS5 is available now) + Reflection effect + Flare.  
    • Added FeedBurner, thanks to Black's reminder :)
  2. Review my P/L - update my trading business transactions.
  3. Read sifu's weekly snippet and some market information from Reuters, the market watch links at the right panel of my blog.
  4. Go out shopping with lovely mum - I need a pair of color contact lens for my December 2010 show.
  5. Weekly market forecast - Gold, DJIA & Nasdaq 100, and Major FX.
  6. Write email to mentor JC on January 2011 - Most Explosive event.
  7. Rest early and prepare for Sunday event - KL.

Stay Tuned!

Back to Ayumi Trader Blog, click here:

Friday, November 26, 2010

Gold, EUR and GBP

Quick Update!
Gold break out from 1365, heading south.
GBP/USD breakout from yesterday Low.
EUR/USD breakout from yesterday Low.

Lower and Lower

GBP/USD at 1.5726
Yesterday Low 1.5723.
Is this support gonna hold?
or it is gonna break?

EUR/USD at 1.3312
Similarly is 1.3283 support gonna hold?
Or it is gonna break?

Transaction (FX)
Long GBP/USD at 1.5732 SL 1.5700 TG 1.5800
Long EUR/USD at 1.3300 SL 1.3270 TG 1.3400

Thank You

Thanks to all visitors that regularly visit my trading journal.
I am surprised to find out that I have close to 200 page loads to my blog, weekly.

Hope all can benefit from each other and hope all making good monies for coming Christmas and New Year.

It was a Thanksgiving day yesterday, Happy Thanksgiving to you and your family. Be sure to take time out to be grateful for all that is in your life. Be grateful for all that is going soooo wonderfully well and be grateful for that which is a struggle for you. Yes! Be grateful for your struggles too! :)

A big test in our lives is whether we can be trusted to rise up when we’re going through a period of stress and struggle. I encourage you to do just that right now in your life!

Have an awesome day!


Thursday, November 25, 2010

A Special seminar by my Sifu DAR Wong in January. Check it out now!

Dear Associates

We'll be kicking off 2011 with a very special seminar by Sifu DAR in collaboration with a FengShui and I-Ching master Ms. Helen Ong on the very 1st weekend of 2011.
This will be a Limited Seats FREE seminar to be held at Bursa Malaysia. As we're expecting full house, all associates are encouraged to register with JC or ASAP.
Pls find details below:


This is the most explosive seminar that kicks off your coming new year with an enriching plan to devise your roadmap to creating wealth. Both speakers are equipped with many years of genuine experiences and have earned aced recognition as the icons in their respective industry. This is one very unique seminar that you should never miss for finding your niche in wealth creation!

1) Your Roadmap to Wealth in Year of Rabbit (Part 1)

Helen Ong is a post-graduate in Strategic Marketing from Chartered Institute of Marketing (U.K.) and serves as a top-recognized Bazi, Fengshui and I-Ching master in Singapore in the corporate world. She is a returned speaker for the OCBC Securities Annual Event and favorite presenter in Share Investor seminar for few years, while giving her prediction on financial markets based on the study of Astrology.

In this session, Helen will share her expertise in teaching you how to improve your personal wealth energy and reinforce the location of fortune stars in your daily living. Only after you have learned to tune your personal aura of wealth, she will highlight the movement of cosmic wealth energy in 2011 and the technique to harness it into your possession through some specific commodities.

All this while, Helen has very special skills of identifying the highly performing economies in the world and guided her corporate customers from the financial and banking sectors to correctly adopt the right actions for sowing the exponential profits. DO NOT miss this golden opportunity to meet Helen Ong!

2) Your Ultimate Wealth Construction For A Lifetime (Part 2)

DAR Wong is a popular financial columnist in Malaysian newspapers such as The Borneo Post, The Stars and Busy Weekly. He has more than 20 years of trading and management experiences in global derivatives markets with the expertise separately trained in Bank of America Futures Inc, Bankers Trust Futures Inc, Barclays ZW Futures Inc and Smith Barney Shearson Inc (Citigroup) during his younger days.

His seminars over 7 countries have always been epitomized by many fans and evangelists that have learned the true ways to create personal wealth through the global financial markets. In this session, DAR will reveal his secret of finding the most exponential growth in some markets and unravel the hidden way to build your exponential wealth in 2011.

After this seminar, you will acquire very crisp objective in constructing the most powerful personal portfolio, while cutting short on your learning curve. You will be amazed after he shows you how to create a huge-return portfolio with just a small leveraging outlay of capital. Satisfaction guaranteed!

Date: 8th January 2011 (Saturday)
Time: 10am - 4pm
Venue: Bursa Malaysia KL
Admission: FREE (Lunch included)

Register NOW.
Register with or
Register at NOW

Tuesday, November 23, 2010

Transactions (FX) and (DJI)

Indentify Market Trending or Sideway aka Consolidation?

Trending down, continuation of trend.
Short EUR/USD (initial shadow)
Entry: 1.3668 SL 1.3720 TG 1.3510

Daily chart shows consolidation, EMA4 and EMA20 cross just happened - Bearish.
Trading on Fibo Range
Entry: 1.6045 SL 1.6093 TG 1.5900
Entry: 1.5838 SL 1.5790 TG 1.6045

Trading on Fibo Range
Entry: 11063 SL 11020 TG 11220
Short DJIA
Entry: 11252 SL 11295 TG 11150

Power of Intention

Whatever your reason is for wanting more money, make sure it’s from a compelling inner truth. Even if it’s something like, “I want to buy a nicer car so I can feel better about myself,” if that’s true for you, then that’s your truth! There’s no one who can tell you you’re right or wrong. It’s yours!

People need more money to pay the bills, yes? Well, how motivating is that? ‘Boy, I really want go out there and work my butt off and have a new vision and do all this work and everything so I can pay the bills.’ I think not.

Know how I made an extra $150,000 in one month? I changed my priority of what the money was for. At first, I was looking for more money for more investments, but I already had some investments, and I did okay. And then I decided that I wanted to buy a condo.

And all of a sudden I noticed business miracles were starting to happen, money coming in from places we weren’t even thinking it could come from. Can I explain it? No. Why? Because it’s spiritually-based. You can’t explain those kinds of things.

Intention is focus internalized. Focus is the steering wheel; intention is the fuel that powers the vehicle. Don’t go for the regular. Go for the super-grade, the one that’s going to run your vehicle cleaner, stronger and longer.

Thanks to T. Harv Eker

I started to feel weak when I need others to agree what I do. What I think.
I started to feel weak when I need people to agree to what I want.

Our mind is so sensitive and things started to change when I have let others come into my mind, my world.
Theses ideas are just like worms, came into my mind, and lay eggs, multiply and grow.

How I wished I could just escape from the world, and encased myself in my room, and think for a little while, what have I done to my life?
Why would I do things without a clear perspective?

What I have learned in the past doesn't seems to work, and I started to doubt myself..
I guess it is not easy for people to change, especially we are living in a world full with other people who are learning the same thing, writing the same essay, reading the same papers...

Wanting to be different is a tough job.

And it is an internal job. I need to work harder, push harder, and believe.
May be I am just impatience.
Planted the seed, I just need to do the work, consistently, for the first leaf to pop out from the ground, is just a beginning.

Thanks to the sorrow, thanks to the challenge. For these I know, I can be better.
Thanks to the great article out there, thanks to the great sifu and mentor, holding me tight, working very hard to make me the 1%.

Thank you.

And I would say to myself, that I will work harder, and I will achieve all wealth and success in my life. Become a successful and profitable trader at my MAXIMUM capacity, to spend quality time with family.

I will, improve my setups consistency and profit unlimitedly from the market.
May all people, benefit from my success.

Hope you like my sharing, and ignite your unlimited potential, hit high, hit higher.

Monday, November 22, 2010

Something New? Or the same old thing?

European Crisis - Ireland bowed and asked for aid
Source: http://www.fxstreet...2010-11-22.html

The European Union, the International Monetary Fund, the European Central Bank and Ireland have come to an agreement on Sunday under which the latter will request a bailout. Such aid package is expected to amount up to 80 – 90 billion euros, and will pair with a government austerity plan worth 15 billion euros.

The bailout plan will be implemented over a span of three years, details will drawn starting on Monday, but it is widely anticipated to be smaller than Greece's 110 Bn euro package devised in May. As reported at the end of last week, Britain is to come up with about 7 Bn pounds in bilateral loans.

Is this something new?
We have heard enough, and I started to know why a sudden movement in the currency market happens -- it is related to the fundamental news.

The fundamental news come right before the price change?
or the fundamental news comes just to justify and explain the 'reasons' for this price change?

Anyhow... no matter what.
Price is the reality, this reality we just need to accept.

And sometimes we just enter the market at today's lowest price and able to sell a little bit higher near today's highest *happy*, and make handsome profit, we also just need to accept and be happy with the profit.

While we enter at today's low, and get triggered at lowest price, loss a little bit, we just need to tolerate and continue the treasure hunt.


Weekly Forecast (FX)


Closing: 1.3682

Smaller time frame:
Immediate resistance: 1.3730, forecast market going up on Monday.
will create a double top, if support: 1.3641 can hold,
EUR/USD tend to consolidate and break higher.
TG: 1.3870
TG2: 1.4000

However, breaking below 1.3641 will go to:
S2: 1.3585
S3: 1.3460

Intraday Trading Plan on EUR/USD, 23-11-2010 (Mon)
Long Entry: 1.3630
SL 1.3590
TG 1.3760


Closing: 1.5982

Weekly candle on GBP/USD suggested a reversal.
Daily candle shows that GBP/USD may still have some room to go higher before turning down.

Favour to pick short on GBP/USD near triple top 1.6190 (4 hour chart) for the week.
On Monday, forecast market to go up, support @ 1.5935.

Intraday Trading Plan on GBP/USD, 23-11-2010 (Mon)
Long Entry: 1.5949
SL: 1.5894
TG: 1.6090
TG2: 1.6190

Sunday, November 21, 2010

Gold on 20-11-2011 (Sat)

Me and my team member has total different view on Gold forecast... :p
however, never mind the right or wrong, put everything in perspective, that's no big deal while I am wrong, gotta know how much I lost when I am wrong, and how much I make while I am right?


Closing Price: 1,352
Resistance: 1424
Resistance: 1417
Support 1: 1341
Support 2: 1329

Gold has closed as a Doji sign on Friday which signals a market indecision, new support at 1,341.

While I was waiting market may come to test the support of 1330 again last Friday, market has just came to as low as 1,341 with a pincer bottom + engulf pattern in 30 minutes.

My view on Gold is that this market will go up to hit the first target of 1,373. While 1374 is a minor resistance, this market tend to do little bit of consolidation here before marching higher.

Once it break 1375, next level to watch is 1400.

Based on Friday pattern, we reckon this market to consolidate and test 1,341 again.
My opinion is that aggressive trader can long near support 1: 1341, however, if market break below this level, we reckon Gold to be well supported at 1,330.
Target set at 1,375 followed by 1,400-07.

Always protect your trade with SL, quote a very beautiful sentense from sifu last Friday:
" happy with your profits - small losses are tolerable but don't give up in the game of treasure hunt."
Only small losses are tolerable :) don't compromise your losses once market violates below 1,329.
We as APSRI trader practise 1:3 risk:reward ratio :D

Saturday, November 20, 2010

DJIA and Nasdaq 100

Dow Jones Industrial Average (DJIA)

Weekly candle on DJIA shows a good support at 10979. Resistance at 11255 and 11370.

Next week, we expect DJIA to consolidate within 11000 - 11290.

Breaking above 11290 DJIA will test the top of 11451 again.
Breaking below 10980 DJIA will continue to dive to 10,750.

Same view as Walter! Capture the opportunity to short at 11290-11300 would be my aim for the week.

For Intraday traders can practise fibo range to trade at extreme ends.
Fibo range for Monday: L: 11058 - H: 11242 SL 42 points away.

Nasdaq 100

Resistance 2,200

Similar to Dow, expect Nasdaq 100 to consolidate, trading range expected to be 2,090 - 2,165.

Aim to plant your short around 2,160 - 2165.

Breaking above 2,170 would head to test 2,200 again.
Breaking below 2,090 would head to 2,050 and 1,980.

For Intraday traders can practise fibo range to trade at extreme ends.
Fibo range for Monday: L: 2100 - H: 2150 SL 12 points away.

Friday, November 19, 2010


Things change. People change.
Accept every little thing with grace. Take things easy, and things will be easy with our mind.
I read sifu’s posting today. Yes, it is Friday today – Thank God Its Friday as I get to read sifu’s message of wealth today.
“…summarize your P/L and be happy with your profits. Small losses are tolerable but don’t give up in the game of treasure hunt.”
Mentor JC told me that, “people can be busy doing things, but not effectively making money.”
We need to put things into perspective, and whether I am doing things, but not effective?

Causes and Effects.

Favourite Quotes
“Next” and “Next”, just remember who we are, what we want, our objectives and purpose.
The road to success is dotted with many tempting parking places. ~Author Unknown
Don’t Give Up:
When the world says, "Give up,"
Hope whispers, "Try it one more time."
~Author Unknown

Source: Quotes - Perseverance:

Visit APSRI Forum here:

Thursday, November 18, 2010

The Truth Shall Set You Free

The Truth Shall Set You Free
November 12th, 2010 by T. Harv Eker

Read this article from T. Harv Eker Blog, and this is so true and I sincerely feel that this article must be shared.

A little while ago we touched on the idea of being so passionate about something that you’d shout it at the top of a mountain, and nothing or no one could stop you.

Well, that’s something we can feel with certainty in any given moment, but we also know the other reality—the one where doubt creeps in, or fear, or uncertainty. We’re only human after all, and those doubts can cause us to change course. What happens if you’re moving in a straight line and you move one milliliter to the right or left?

After a while, there’s a big difference between where you were originally heading and where you end up. That’s why it’s so important to live from the truth of who you really are and how your talents and gifts were intended to add value to others.

If you’re trying to become successful in an arena that is not your right livelihood—if you’re trying to become successful with that and you run into obstacles, what are you going to naturally do when things get tough? Look for a way out! Give up! Quit!

You are given a purpose. You’re also given challenges and issues in your life. Your purpose matches with somebody else’s challenge or issue, and their purpose matches with yours. Isn’t that beautiful? But if you don’t live your purpose, there’s somebody with a challenge or issue that doesn’t have a partner and is waiting for you. Multiply that, and that’s how much money is out there waiting for you.

Likewise, for every unique talent and way of expressing it in the world, there’s also unique needs and desires from someone else.

It’s not easy to know why you were created. It took many, many years, lots of mistakes, detours and successes to realize my mission is simply to educate and inspire people and help them enrich themselves to live in their higher self based in courage, purpose, and joy versus fear, need, and obligation.

The Gospel of Thomas isn’t included in the common Bible, but I love one of its quotes nonetheless: “That which is within you and expressed will set you free, and that which is within you and not expressed will eat you from the inside.” Relate this not only to purpose but to disease, sickness and the way of the universe.

Again, you cannot live a happy, fulfilled and successful life without living your purpose. If your vehicle is not rooted from within, and becomes a derivative of the true purpose of why you’re here, you will never find fulfillment, you will never find true happiness, and you will never find real success. Never!

The root of your vehicle must be in your purpose. How do I know that? Because I have lived the other way and it sucks in comparison. Know what I mean?

Now we want to hear from you! What are some profound quotes about living the truth of not only our personal existence, but of our collective existence as humans? Let’s take this opportunity to inspire each other and set each other free, financially and spiritually.
I hope you like my sharing today.

For more on T. Harv Eker, you can visit his blog: or purchase his books :)


Wednesday, November 17, 2010

Price Update

CFD (Buy) Price on My Watchlist:
Tencent (HK) 167.10
Zhaojin Mining (HK) 25.20
JiangXi Copper (HK) 22.00
Zijing Mining (HK) 6.95
Agile Property (HK) 10.70
China Shineway Pharmaceutical (HK) 24.25
GuangZhou Pharmaceutical (HK) 8.94
CNOOC (HK) 16.50
Sinopec Corp (China Petroleum) (HK) 7.17
China Coal Energy (HK) 12.44
Hopson Dev Holding (HK) 8.32
HuaNeng Power International (HKD) (HK) 4.37
MinMetals Resources (HK) 5.59
PetroChina (HK) 9.53
Wynn Macau (HK) 15.20
Yanlord Land (SGD) 1.74
 Genting Singapore (SGD) 2.10

Happy Holiday to Malaysians and Singaporean :)

Only if we could short.
Or pick the support levels to buy. :)

Transactions (FX) and (DJI)

Long Black Candle for GBP/USD and EUR/USD, DJIA, and Gold.
Sounds like we have missed a lot, but we are just at the beginning of everything.

QE2 is going to kick off this Friday, so far I prefer to trade intraday.


GBP/USD opens at 1.5879.
GBP/USD has hit target (2L) if I look at intraday 30 minutes chart.
Is GBP/USD going to hit 1.5700 today?

Clue 1:
If Ayumi look into bigger time frame (1 week consolidation), it has breakout from the consolidation, 1.5500 is the 2nd target.

Clue 2:
EMA4 and EMA20 cross confirms the trend.

My Intraday Trade 17-11-2010 (Wednesday)
Entry 1.5928 SL 1.5978 TG 1.5780


EUR/USD opens at 1.3488.
EUR/USD has been trading down since last week, looking into weekly forecast, using APSRI Trader's initial shadow method will take home more than 400 pips profit.

Will use the similar method to enter.

Entry 1.3550 SL 1.3600 TG 1.3370


DJIA close at 11,023.
Earnings from Retail giant like Walmart of Home Depot is going to be positive tonight? and 2nd largest IPO - General Motor also going to announce its IPO tonight, hopefully these positive news can pull the dying bull.

Short! Short! Short!
Clue 1: Closed below Z1 line with a Long Black candle
Clue 2: Closed below 10,250
Clue 3: EMA4 and EMA20 cross
Clue 4: Mkt Corelations cross - Sell Sell

DJIA Short
Entry 11,086 SL 11150 TG 10,730.

Beware of Friday QE2, always protect our capital with SL and move SL to entry after markets moves +50 in favour.

Close the position by EOD if cannot take the stress or doubt.

Tuesday, November 16, 2010

Free from Doubt

Good read today during Lunch:

Tranquility is stillness; flowing is wisdom.
We practice meditation to calm the mind and make it still;
then it can flow.

We want to do it right, but somehow we can't get there yet; our own faculties are not sufficiently mature.

It is like fruit that's still growing on the tree. You can't force it to be sweet -- it is still unripe, it is small and sour, simply because it hasn't finished ggrowing.

you can't force it to be bigger, to be sweet, to be ripe -- you have to let it ripen according to its nature.

As time passes, the fruit will grow, will ripen and sweeten of its own accord. With such an attitude you can be at ease.
But if you are impatient and dissatisfied, you keep asking, ''why isn't this mango sweet yet? Why is it sour?" It's still sour because it's not ripe. That's the nature of fruit.

~ Everything Is Teaching Us, Ajahn Chah

Doubt only adds to the suffering.

Hope you like my share today.

It can be done.

Monday, November 15, 2010

Weekly Forecast

Announcement of CPI and PPI figures for October on Tuesday and Wednesday would suggest the inflation in US.  If the figures are high, it would jeopardize QE2 Bond Puchasing Program which is going to kick off on Friday. - Source: Reuters

Dow Jones Industrial Average (DJIA)

We have seen 11,451 as current top and DJIA has been trending down since Monday 8/11 in a series of black candles on Day Chart.   For the week, the Dow Jones industrial average shed 2.2 percent.

On Day Chart, DJIA has closed below 11,240 the Z1 line of Trapezium and at the same gap between EMA4 and EMA20 is narrow.  We expect a little bit of consolidation before the trend sets in.  Traders who are not sure, suggest to stay out as the data release this week may cause market to swing up and down awaiting breakout - favour to the down side :)

R3: 11,451
R2: 11,370
R1: 11,300
S1: 11,140
S2: 11,020
S3: 10,920

For Intraday Trading,
Short DJIA at 11,220 - 240, SL 40 points away, TG 11,120.
If market break your stop and travel higher, second place to short would be 11,370.
For Intraday Long, Entry at 11,195 SL 11,155, TG 11,295 or closed by EOD.

Nasdaq 100

Nasdaq 100 has made higher high this last Tuesday to 2,200 but closed at 2,137.  For the week, Nasdaq fell 1.96%.

R3: 2,200
R2: 2,180
R1: 2,150
S1: 2,120
S2: 2,100
S3: 2,070

Similar to DJIA, Short at 2,150 SL 2,160 target exit 2,120 or close by EOD.

Visit APSRI Forum here:
Visit APSRI DJIA Forum here:

Sunday, November 14, 2010

Weekly Forecast (FX)

for 15-Nov-2010 (Mon)


Market has move in favour, however, I didn't get my Short entry of 1.4180, high of this week is 1.4084 only.
However, for traders who practice initial shadow entry, this is a very good method if you practice for 5 trading days.

Monday: Short 1.4073, close at 1.3917 (day range) + 156 pips
Tuesday: Short 1.3956, close at 1.3800 (day range) + 156 pips
Wednesday: Short 1.3807, close at 1.3780 (EOD) + 27 pips
Thursday: Short 1.3817, close at  1.3670 (EOD) +147 pips
Friday: Short 1.3703, Triggered SL 1.3767 (High 1.3776) -64 pips

This backtest is run on Russian Hour (GMT+1), taking opening and closing price as Broco Trader, MT4 Platform.
I am proud with the result. Result: +422 pips

For those who wants to learn Initial Shadow entry, and learn how to use multiple trading method to enter and make unlimited profit from the market, contact APSRI Traders.  I am always proud to say that DAR Wong is my Sifu and Mentor JC has been the best-est mentor to guide me on my trading journey.

What's Next for EUR/USD?

Friday Closing: 1.3689
R2: 1.3930
R1: 1.3810
S1: 1.3460
S2: 1.3334

Pressure to send EUR/USD down!

Market has showed us sign of consolidation, early next week expect consolidation to continue so best to place your short at R1, if market has moved higher, next level to short is 1.3930. Profit Target at S1: 1.3460, followed by 1.3334.


It was a Swing Swing week on GBP/USD.
It has broke below 1.6150, close at 1.6111 for the week, but market continue to swing in 1.6200 - 1.5950.

Clue 1:
GBP/USD found support at 1.5949, 1.5983.
Zoom into 4 hour chart, without breaking below 1.5950, and break triple top 1.6185, GBP/USD will travel higher to break 1.6295 and eventually hit my target 1.6350 then 1.6450.

Same as previous week, stay out and waiting for correction phase to end.

Remember mentor JC said: Trading the Extension Wave! it is most profitable and stress free.


Remember I said to Long when EMA4 + EMA20 cross?
It has happened and I am looking forward for USD/JPY to come out from the down trend.

Fighting to break above the resistance, fighting to break away from the down trend is a long journey + not easy.
I am very happy for the market to make another white candle on the Weekly Chart :)

I think Friday low of 81.63 has killed many traders who wished to Long.
For me to always wanted to long at 81.50, I didn't get my entry too.

Resistance: 82.80
Support: 81.50

Breaking above 82.80, USD/JPY is gonna head to my target price of
TG1: 83.15
TG2: 84.50

Failing to do so, it would come back to 81.50 as well as 80.50.
Strong support 80.20.

Related Post: 

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Last week's forecast:

Saturday, November 13, 2010

Gold on 13-11-2010 (Sat)

Followup on my Gold posting on 5-11-2010 (Last Friday)

Gold has hit my 3L target of 1421 region and doing correction for the remaining of the week.

Gold has closed at 1367 and this is the first sign of weakness (closed below Z1 line).

If gold maintain below this level and continue to downward movement and break the BKO of 1365, followed I would short gold and ride for 2 weeks.

Following Supports: 1349, 1319, and 1315.

New! 14-11-2010 (Sun)

I am looking at Gold to retrace to 1,335:
1) PW trader can consider the inner wave from Top (1424)
2) Gold trend up from July-10 (1157), refer Daily Chart, if Gold is going to continue up trend, this correction is imminent! If we use Fibonacci retracement theory, Gold is likely to find its 1st support near 1,335.

For those who wants to know what is PowerWave (动力波浪), you can contact my most supportive + most professional mentor JC at +6016 280 2227 to catch our next workshop or join our upcoming seminars!

Ayumi, the novice Trader

Friday, November 12, 2010

Successful Trader

Reading: 7 Habits of a Highly Successful Trader by Mark Crisp

Best quotes:

Aim to be the world's best trader with the system you create.

This is where the majority of traders go wrong. They have no idea which style of trading suites them. They keep buying into the latest softawre or listening to the new guru, hoping thhis will change their trading results. Most never get to know what successful trading is all about as the average trader lasts SIX months. I believe any trader who can last over TWO years in the market will probably go on to become one of those rare breeds: A Stock Market Winner. Why? Because after two years they start to develop a set of rules that fits them. They start trading a way they are comfortable with. Unfortunately, in their haste to make a ton of money, most traders will never get two years experience before they lose their money and/or their interest.

Say it today.

"I will find a system that fits me and I will become THE WORLD'S BEST TRADER at this ONE style of trading!"


Quick update on DJIA

We can see that the current top of 11451 acts as a good resistance and DJIA has been forming a evening star on Monday followed by 3 days of downward movement.

For PW Traders and ProTM associates:
Tonight, if DJIA has broken yesterday low of 11231 and closed below 11230 the Z1 line, it gives us the first sign of trapezium formation.

Traders are recommended to short DJIA but must wait for the sign to develop as there would also be false break.

Plan your trade, and trade your plan only.
- 7 Habits of a successful trader.

Thursday, November 11, 2010

Transactions (FX) and (DJI)

quick updates on both of the market I watch:

Dow Jones Industrial Average (DJIA)
Cash market closed at 11,357
Closed CFD Long entry at 4am at +47 points.  And it started to fall from then... :) Lucky!

Today's queue:
Long DJIA Entry 11280 SL 11240 TG 11400
(Futures market is currently doing correction and coming very close to my entry price)
Short DJIA Entry 11453 SL 11493 TG 11300


Breakout from 81.50 resistance and already break above 82.00 level.
The breakout is too fast and I decided not to trade.

Clue 1:
from Intraday chart (30M, and 4 Hour) USD/JPY is currently doing retracement from current top 82.80 region.  If the rally is going to continue, it is very likely to find its support at 82.00-10 and race towards 83.00.

Clue 2:
from Day chart, EMA4 and EMA20 crossing! Presenting a bullish signal as I have laid out on my weekly forecast.

Clue 3:
Once USD/JPY breakabove this top 82.80, it would continue to rally towards 84.50 region.

Clue 4:
However, from another point of view (Bearish), this top also a resistance level that would push the dollar yen down (trend line), if the support of 82.00 failed and we would very likely to see a pull back to 81.50 followed by 80.50.

As always mentioned by mentor JC and sifu DAR Wong, a trader should not have conflicting views in a market (meaning having Long view and Short view at the same time), my view is that USD/JPY will do a little bit of pull back to 82.00 region and continue to 83.00 or higher at 84.50, but everything just happened too fast and I don't see myself in this trade, therefore, Ayumi no trade on USD/JPY and see how the market unfolds.

Metta to all~~!

Wednesday, November 10, 2010


So cool on DJIA!!

It has come to our support 11340 and formed a reversal pattern.  it seems that this support is still holding well.

My order was not filled and andI am expecting Dow to test the second support near 11,250 region.

Intraday Trading Plan for DJIA, 10-11-2010 (Wed)
Long Entry: 11282, SL 11242, TG 11400
Short Entry: 11454, SL 11494, TG 11300


USD/JPY has break out from 81.50 and has formed a nice pattern on 4 Hour Chart!

I thought it would need to take 1 week to breakout, however, this has also happened to fast and sad to say Ayumi the novice trader do not know how to trade and I am just expecting it to do some correction after this run-up!


Tuesday, November 9, 2010


We expect a little bit of pull back after DJIA sharp gain on last Thursday.

Although the trend is still bullish, we are cautious about the bullishness in view of a evening star forming last Friday and Monday in the daily charts.
Hence Ayumi would prefer to wait for a pullback before buying in. On the upside, DJIA would likely surpass 11500 and touch 11650 within this month.

Look for DJIA to be supported at 11340 followed by 11250 which will present good buying opportunities.

Intraday Trading Plan for DJIA, 9-11-2010 (Tuesday)
Long Entry: 11272, SL 11232, TG 11400
Short Entry: 11451, SL 11491, TG 11300


kumofx has posted an early update today, on this blog and our traders' forum.

We are not alone hoping the world economy to return to normal after injection of high dose of 'tongkat ali' :)


Little formation in USD/JPY and hoping the bottom of 80.30 hold strong and market reversal in coming week.


refer to my Sunday posting on USD/JPY:

Travel in consolidation, no direction in this currency pair, if you employ EMA4 and EMA20 trading method, you need to be patient, we are going to trade if USD/JPY breaks above 81.60 or 82.00.

Failing to break above these 2 levels, this pair is going to fall to 79.80 region --- Lowest level since April 1995.

Ayumi Waiting patiently.

Related: 3 Major FX Update for Mon 9-Nov-2010

Monday, November 8, 2010

Weekly Forecast

Market was wild last Thursday and moved up 218 points from 11,216 but I lost only 100 points shorting DJIA from 11,240. Sifu always emphasize on controlling our SL. DO NOT carry overnight losses and ruin yourself!

Dow Jones Industrial Average (DJIA)

Finally DJIA has break above the strong resistance level of 11,257 (Apr-10 High) and generally the market is very bullish now!

For ProTM associates, with Dow breaking above 11,257 level and closed above this level, it confirms the big trapezium. I remembered Sifu mentioned during the 1st ProTM session back in August 2010, you have a lot of time to react. So for the time being, hold your fire to short and waits patiently for the opportunity to come to us.

DJIA closing: 11,444 (2 Years High)
Strong Resistance: 11,867 (Aug 2008 High)
Resistance: 11,786 (Sep 2008 High)
Support: 11,250
Strong Support: 11,050

One Senior associates told me that he is looking at DJIA toward 11,800 region, and he said "The higher it goes, the harder it falls." I like this comment very much and I am looking forward to this day.

Favour to Long DJIA, Trading Plan for Monday (Intraday):
Entry: 11335 SL 11295 TG 11455.

Nasdaq 100

Closing: 2186
Resistance: 2239 (Oct 2007 High)
Support: 2147 (Confluence Line)
2nd Support: 2130

Nasdaq 100 may have the potential to head higher, to test higher high towards 2230!

Pick Long at 2152. SL 2144 TG 2176 (Intraday) or ride the bullish trend towards 2,230.

Sunday, November 7, 2010

Weekly Forecast (FX)


Technically, we saw a bearish engulfing pattern in Daily Chart on EUR/USD and current high of 1.4282 marked as a good resistance level.

Friday Closing: 1.4030
Strong Resistance: 1.4282
Current Resistance: 1.4249
Potential Support: 1.4000
Next Support: 1.3860

If we employ Fibonacci retracement theory, we can find that it is a good level to short if we are going to place our short at 1.4140 region, SL 1.4180, TG at 1.4000 potential support.  If you want to play safe, you can either short at 1.4200 region with your SL placed at current resistance level of 1.4250 (personally I think it is a bit too far but who cares if you do not get an entry today, tomorrow is another new day).


Harami pattern, Stochastic Cross at 87 region, with GBP/USD formed a reversal on Day chart, without hitting my target 1.6350, what am I going to do?

Highest 1.6295 on Thursday.

I believe this pair would face a few days of downward pressure, and waiting for Tuesday news release on Manufacturing Production m/m at 5.30pm (GMT+8).

Breaking below 1.6150 confirms the downturn, lead to first target 1.6000 then 1.5650.
Next, without breaking 1.6000, and reverse, then this pair might have potential to hit higher :) continue to drive north and go towards 1.6350.

Ayumi stay out.


This week Lowest (1-Nov-2010): 80.30
This week Highest (4-Nov-2010) : 81.58
Closing on Friday (5-11-2010): 81.26

Quite positive on USD/JPY pair.  Bullish Engulfing Pattern at the bottom of the chart.
Bearish trend in USD/JPY is very obvious too.

Travel in consolidation, no direction in this currency pair, if you employ EMA4 and EMA20 trading method, you need to be patient, we are going to trade if USD/JPY breaks above 81.60 or 82.00.

Failing to break above these 2 levels, this pair is going to fall to 79.80 region --- Lowest level since April 1995.

Ayumi Waiting patiently.

World's tallest Jesus statue finally assembled in Poland

Final elements were installed on the world's tallest statue of Jesus Christ on Saturday, marking an end to the five-year construction in a small Polish town, the PAP news agency reported.

The statue's torso, head and crown were installed on Saturday. The works were initially scheduled for Friday, but were delayed by strong winds.

A similar attempt failed two weeks ago as the 400-ton crane on site proved inadequate to lift the head and arms into position, and a 700-ton crane was brought in to complete the construction.

The town of Swiebodzin, which is off the beaten track near the German border, hopes its gigantic Jesus will become a tourist attraction as famous as the iconic Christ the Redeemer statue that overlooks Rio de Janeiro in Brazil.

The monument is expected to overshadow not only Christ the Redeemer, which stands at 39.6 meters (130 feet), but also the Cristo de la Concordia in Cochabamba, Bolivia, which rises to 40.44 meters (almost 133 feet).

The Polish statue itself is about 33 meters tall (108 feet), but its overall height, including the 16-meter (52.5 feet) mound and a two-meter (6.6 feet) crown, exceeds 51 meters (167 feet). Its total weight is about 440 metric tons.

The date of the official ceremony to unveil the monument is yet to be announced, but earlier media reports said it would take place on November 21.

Construction costs are estimated at almost $1.5 million, and the whole sum was raised through private donations.

The plans to build the statue have divided society in Poland. The supporters of the project say the statue would attract pilgrims to the city, while their opponents accused the church of megalomania and said the giant and costly project has nothing to do with the teaching of Jesus Christ.

MOSCOW, November 7 (RIA Novosti)


UEM Land + Sunrise

KUALA LUMPUR (Dow Jones)--Malaysian property firms UEM Land Holdings Bhd. (5148.KU) and Sunrise Bhd. (6165.KU) plan to merge their operations via an exchange of shares, a move that will allow both firms to capitalize on the expected growth in the real estate sector.

A person familiar with the deal told Dow Jones Newswires that UEM Land, owned by state-controlled UEM Group, and Sunrise-- a developer of high-end real estate in Kuala Lumpur--plan to sign a share exchange agreement that will be announced tomorrow.

He declined to provide further details of the transaction.

Property analysts say a collaboration between the two companies is "positive and synergistic" but would rather wait for further details of the deal before making further comments.

"Sunrise has expertise in developing premium properties but most of their land bank is concentrated in Kuala Lumpur... a link-up with UEM Land, which has substantial land acreage in Iskandar (in southern Johor state), makes it very synergistic indeed," said an analyst with a foreign brokerage who declined to be named.

"It will also depend on how much of a role the current management of Sunrise will play in the new venture... Sunrise is highly successful in selling its high-end properties primarily due to its capable management team," he said.

Maybank analyst Wong Wei Sum said that as the deal structure hasn''t been revealed, it would be hard to assess the financial impact for either company. "It all depends on the valuation, but we have a fair value of MYR2.80 for Sunrise at the moment and we are positive on Sunrise''s fundamentals," Wong said.

Sunrise, controlled by investment analyst turned property developer Tong Kooi Ong, has market capitalization of MYR1.2 billion and a land bank of 587 acres in Malaysia, according to its website. The firm has recently expanded overseas with its maiden project in Canada.

UEM Land has market capitalization of MYR8.2 billion and is one of the largest property developers in Malaysia. It is currently developing some 15,000 acres in Iskandar and has over 5,000 acres available for future development. The company is also involved in a development in Cyberjaya, south of Kuala Lumpur.

UEM Land posted net profit of MYR114.6 million on revenue of MYR403 million in 2009, while Sunrise reported a net profit of MYR134.0 million on revenue of MYR590.7 million for its fiscal year ended June 30.

Trading in the shares of the two companies was suspended Wednesday pending an announcement. UEM Land shares ended Tuesday at MYR2.26, while Sunrise closed at MYR2.52.

-By Elffie Chew and K.P. Lee; Dow Jones Newswires; (603) 2026 1233;,

Friday, November 5, 2010

Transactions (FX)

Entry: 1.6205
SL: 1.6155
TG: 1.6350


After Professional Trade Master Program my cluster group of 6 would cover on Gold market weekly and we may post our findings in the forum e-tutorial session.
I love this idea from our Sifu DAR as this is the great opportunities for associates to cross learn and share their market opinions and come to post their findings in the forum.

Whether you are trading, or not trading, whether you have 10 years experience, or 10 months, even only 10 days, posting up your market findings helps to fine tune your trading setups.  While now we are also working in a group, there's much more interesting as traders get to share their opinion and it is a kind of brainstorming.

Not about being right or wrong, cuz we are doing forecast, and what we want is only the discipline.
I love sifu's saying:  "Don't tell me you want to become a successful or profitable trader if you can't even wake up at 8am".
Not about 8am or 10am, if you choose 10am, it is fine too :) make a routine and commit ourselves to the market.

And remember one of sifu DAR Wong's 3N rule: Never think the market is wrong!

I would like to cover a bit on Gold after yesterday's rally and Gold has break above the overhead resistance of 1,387 last night with a sharp gain of USD$44!!

Gold on 4-11-2010 (Thu):
Open: 1348
High: 1394
Low: 1347
Close: 1387
Gold price at 8am: USD 1,386

What's next?

Coast clear! Gold is free to go towards another top, new top, new high.
My target is that Gold to hit 1,421 region.

Trading Plan on Gold (USD) for 5-11-2010 (Fri)
Gold Long
Entry: 1378-80, SL 1,370, TG 1400.

This is my very first posting on Gold, and remember my disclaimer: This blog is my personal trading journal, not a recommendation to buy or sell, do consult your financial advisor before making any investment decisions.

Thursday, November 4, 2010

Transactions (FX) and (DJI)

Dow Jones Industrial Average (DJIA)

I didn't trade yesterday due to mid term election and FOMC statement, and ADP Non Farm employment change.

Trading Plan on DJIA for 4-11-2010 (Thu)
DJIA Long (Intraday)
Entry 11,087.29 (Support 11050) SL 11,047 TG 11,200

DJIA Short (Intraday)
Entry 11,249 (new high?) SL 11,289 TG 11,090 current support)

If you read my previous posting on DJIA, you know that I am looking at DJIA to close above 11200 level, and YES! It did!
DJIA closing on 3/11/2010: 11,215!
So What's Next?
I am waiting for reversal and closing below 11200 level again.

My position trading setup1 for DJIA for the coming waterfall remain the same:
DJIA Short
Entry 11240 SL 11340 TG 10750


GBP/USD has finally crossed above 1.6100!
It has formed a high of 1.6166 last night and the market is simply volatile ~ Big Swing.
With such a bullish sentiment, would GBP/USD continue to head up to 1.6350 region before a reversal pattern can form?

Forecast on GBP/USD, to continue to go up to 1.6350 region.

Trading Plan on GBP/USD for 4-11-2010 (Thu)
GBP/USD Long (Intraday)
Entry 1.6065 SL  1.6020 TG 1.6185

For PW Traders, check weekly fibo retracement and Daily XABC going to 3L you will get the target price like I did!

Happy Trading =)

US Summary, DJIA at 2-Yr High Close

USD fall vs rivals after Fed announces fresh round of asset purchases to kickstart economy. USD dropped sharply in extremely volatile trading in initial reaction but soon recovered most of the loss. Investors expected roughly $500 billion in Treasury purchases over 5-6 months, notes Vassili Serebriakov, FX strategist at Wells Fargo in New York, but Fed announced $600 billion package over 8 months. Late Wednesday, EUR/USD was at 1.4122, vs 1.4034 late Tuesday, USD/JPY 81.13 vs 80.64, EUR/JPY 114.59 vs 113.19, GBP/CHF $1.6095 vs $1.6028, USD/CHF 0.9707 vs 0.9795. U.S. Dollar Index was 76.396 vs 76.731.

DJIA made 2-year closing high after violent bouncing following congressional election, QE2.

BlackRock down 4.3%, after Bank of America said offering at least 34.5 million shares it holds in it, while fellow part-owner PNC Financial Services selling up to 7.5 million shares. PNC +2.2%, BoA +1.1%. KKR +0.4% even as 3Q earnings dropped 61% after its private-equity portfolio appreciated less than in year-earlier. Dow +0.2%, Nasdaq +0.3%, Philly Semicons +1.0%. 30-year Treasury bond tumbled, erasing earlier gains, as it wasn''t favored in U.S. Fed''s debt buying program, while 10-year also reversed gains.

Oil prices hit fresh 6-month high as Fed''s widely anticipated QE followed bigger-than-expected decline in U.S. fuel inventories;
December Nymex settled up 0.9% at $84.69/bbl. Gold prices whipsawed in after-market trade as investors were skittish after FOMC announcement.
However, December Comex gold closed down 1.4% at $1337.60/oz. (

US Stocks End Volatile Session Higher; DJIA At 2-Yr High Close;


The Dow Jones Industrial Average lurched to a two-year closing high, bouncing around violently after the congressional election and after the Federal Reserve said it would buy $600 billion to prime the domestic economy.

The Dow gained 26.41 points, or 0.24%, to finish at 11215.13 after a volatile afternoon, while the Standard & Poor's 500-stock index added 4.39 points, or 0.37%, to close at 1197.96 and the Nasdaq Composite edged up 6.75 points, or 0.27%, to 2540.27.

The 10-year Treasury note sank, pushing the yield up to 2.625%. Gold and copper also fell as the Fed said it would maintain its existing policy of reinvesting principal payments from its securities holdings, and purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011 at a pace of about $75 billion a month.

The Fed said it would also "regularly review the pace of its securities purchases and the overall size of the asset-purchase program" as economic data flow in.

Expectations of Fed easing had helped fuel a two-month surge on the stock market that has added 12% to the Dow.

The Fed move was generally in line with market estimates, putting to rest the idea that the central bank would proceed on a more cautious step-by-step basis from the get-go.

Anthony Chan, chief economist at J.P. Morgan Private Wealth Management, said that tepid approach was now "off the table." Chan said the Fed's approach would help with "taking the uncertainty out of the air."

Keith Springer, president of Capital Financial Advisory Services, said the Fed delivered "the bare minimum" of what the market would accept, but warned that there was a gloomy message in the size of its package. "Things must be pretty bad out there for the Fed to be this worried," he said.

Dan Cook, chief executive of IG Markets-U.S. in Chicago, said the move was "right in line" with market expectations, leading to some of the initial market confusion. "I had expected more of a pop, but it was just so close to what was expected," he said. "This might be a thing where we have a battle that goes on for a bit before they pick a direction."

Scott Clemons, chief investment strategist for Brown Brothers Harriman, said the Fed's push to further ease monetary conditions would likely maintain downward pressure on the dollar. "I think it's actually an explicit desire of the Fed--it makes our export markets more attractive, and it makes imports more expensive, which helps to import inflation, and the Fed has said very clearly they would like to see some inflation," Clemons said.

The market moves came on a day when the economy showed tepid signs of improvement. Private-sector employment grew by 43,000 in October, topping consensus estimates of a 22,000-job gain. U.S. factory orders rose by a higher-than-expected 2.1% in September, the third consecutive month of growth for one of the economy's key drivers. Meanwhile, a measure of non-manufacturing activity came in at 54.3 for October, higher than September's 53.2 reading and better than consensus expectations of 53.5.

After the Fed's intervention, "I think if the data continues to be marginally positive, which it's been over the last couple weeks, there could be some fuel to the fire" to keep the rally in stocks going, said Frank Longman, market technician at Brean Murray, Carret & Co.

Companies in focus include BlackRock, which tumbled 4.3% after Bank of America said it is offering at least 34.5 million shares it holds in the money manager, while fellow part-owner PNC Financial Services Group is selling up to 7.5 million shares. Bank of America may also sell another 6.3 million shares in the overallotment option. PNC gained 2.2%, while Bank of America added 1.1%.

KKR gained 0.4% even as third-quarter earnings dropped 61% after its private-equity portfolio appreciated less than in the year-earlier period, thus hurting its revenue.

Some auto makers fared well after reporting significant jumps in new-vehicle sales amid stronger buying by American consumers. Ford Motor gained 5.2% after reporting a sales increase of 19% in October from the year before. Honda Motor gained 0.4% after reporting gains of 16%.

Garmin slumped 5.3% after a 30% increase in earnings at the maker of digital navigation devices missed analysts' expectations and came amid weaker sales and margins.

PulteGroup lost 7.7% after the Michigan home developer's third-quarter loss widened to nearly $1 billion. Pulte said orders dropped 12% from a year earlier and 15% from the second quarter.

Hartford Financial Services Group jumped 9.2% after the insurer beat third-quarter earnings expectations and raised its 2010 profit estimate.

MGM Resorts International surged 10% as the company's third-quarter loss narrowed amid sharply lower write-downs related to its struggling Las Vegas City Center complex.

Time Warner shed 1.1% after its earnings fell 21%, as the media giant took a hit related to debt redemptions, though adjusted earnings and revenue rose. AOL, which was spun off from the media giant last year, rose 3.2% after asset sales helped the Internet company boost profits.

Aetna gained 2.9% after earnings rose 53% as investment gains and lower medical costs offset continued declines in employer-based membership. Wellpoint, however, dropped 0.5% after third-quarter profit rose 1.2% following prior-year write-downs as claims costs rose, contrasting with a trend seen in much of the health-insurance industry this year.

U.S.-traded shares of French bank Societe Generale gained 3.7% after the lender said its third-quarter net profit doubled due to lower bad-loan provisions and growth in international retail banking.

Stocks in Europe stuck largely to the sidelines ahead of the Fed decision, with the Stoxx 600 index finishing down 0.4%. In Asia, Hong Kong's Hang Seng index broke above 24000 to trade at its highest level since mid-2008, led by banks.

Gold tumbled to below $1340 an ounce, while oil jumped to its highest settle in six months.

(Donna Kardos Yesalavich, Steve Russolillo and Kristina Peterson contributed to this article.)
--By Jonathan Cheng, The Wall Street Journal;

Tuesday, November 2, 2010

Transactions (FX) and (DJI)

Doji Star formed on DJIA
Open: 11,124
Close: 11,124
High: 11,244
Low: 11,062

Shorted at 11,210 and closed at 11,090.

Today, DJIA has moved towards 11,247 and recorded high of 11,244.
For PW traders, you will know that the market has formed a new B on Day Chart with our initial target price at 10,780.

If you have missed the short, or have already covered your short position like I did today, you can still expect the market to return to 11,200 region for a short opportunity.

Trading Plan on DJIA for 2-11-2010 (Tue)
DJIA Long (Intraday)
Entry 11,044.29 SL 11,004 TG 11,200

DJIA Short (Intraday)
Entry 11,222 SL 11,300 TG 11,050

DJIA Short (6 market days, estimates market to hit target by 10th Nov)
Entry 11,240 SL 11,340 TG 10,750.

I am actually hoping DJIA to:
Tuesday (2nd-Nov-10) close the daily candle at 11,200-11,220,
Wednesday (3rd-Nov) to create a marginal top at 11,300 but closed at 11,200 again.
Thursday (4th Nov) market confirmation of reversal + triple crossing on intraday chart
Friday (5th Nov) start of the waterfall

Everyday I wanted to short at top, but everyday I remind myself that the news release and market anxiety can drive the bull crazy, and the bear will also fight with its strongest strength.  The Risk : Reward is good if you know what I mean, and I believe you will have the highest patience now waiting for the market to tell us the truth, whether we are right, or we are wrong.

I remembered mentor JC shared an interesting and funny conversation some time ago: "Oh no... Please don't tell us that we are early (again!)" Hint: Market moves opposite, and triggered SL (again).

At this point, DJIA at 11,124.62, I do not know whether the market has confirmed the completion of XAB, or will a new X formed by Wednesday, but I personally have a feeling that it will.  Thats why I would prefer to short at 11,240, place my ultimate stop at 100 points away, and aim for 10,750 as my target price.

Secondly, this only the 1st Phase of correction, once DJIA has broken 10,750 convincingly, there would be 2nd Phase and we aim another 400 - 500 points, or more!

Traders, I hope you like what I have shared, and I hope all can make some good trades, make good profit towards the end of November 2010.

Related: My Weekly Forecast on DJIA & Nasdaq 100 on 1-Nov-2010
My forecast on EUR/USD back on 13th October - forecast market movement by 3rd Nov or 10th Nov