Day After Christmas

We had a lot fun Swing Trading and Day Trading all the High Probability Setups during 2011, thank you for you loyal support.You know who you are.

The best gift of all is your trust and the profits made on those trades.

Time to stop Diving and Head for the Mountains

Back from a long scuba diving exotic adventure trip while trading across the globe. Now is time for some high mountain skiing in Austria.

Wishing all my followers and private investors a very wonderfull, unique and exciting

holidays. May you eat well and drink fine quality spirits with your loved ones and forget your worries for a few days !Cheers !and happy christmas !

Veterans Deserve Better

Many of you may remember that Veterans Day was originally commemorated by our nation as “Armistace Day”, a celebration of the cessation of hostilities after the first ‘Great War’. It was a day set aside to remember the horrors of those war years in an effort to nourish the hope that governments could find more civil ways of resolving their differences. It wasn’t until well after the end of WWII that we modified that commemoration to honor all of the veterans of all of America’s wars.


These days the horrors of war often go unrecognized by many civilians. It is only through the experiences of our veterans and their families that the timeless agonies of war are experienced and remembered.

 Except for the financial expenditures (which are astronomical), civilians rarely share in the ‘cost’ of going to war anymore.  Yet, it is precisely those costs that are fueling our current national debt difficulties. The fiscal problems that the United States  is  currently experiencing are due largely to the fact that the debt for those unfunded wars is coming due at a time when the economy is still suffering the consequences of the economic collapse of 2008.

I find it outrageous that, after invading Iraq and Afghanistan for 10 years on borrowed money, we are now trying to pay for it by reneging on the insurance policies that great and honest Americans have created and paid for called Medicare and Social Security.

The Bullshit Continues in Wall Street

This is another undisputed evidence that Occupy Wall Street protesters are right about the corruption and outright fraud going on for decades in the Financial Markets.

MF Global Senior Vice President Mark B. Sachs sent me a letter on Sept 23,2011 with an offer to open a new self-directed account, but never mentioned the fact that their financial status was weak ! Never included or discloused on the invitation letter.That is the kind of deceiving and misleading marketing going on in the US Brokerage business ! and this has been going on for decades. New traders BEWARE !

MF Global Holdings Ltd failed to protect customer accounts by keeping them separate from its own funds, said a top U.S. exchange regulator, another shock for commodity markets scrambling to contain fallout from the brokerage's bankruptcy.

The New York Times reported late on Monday that federal regulators discovered that hundreds of millions of dollars in customer money -- supposed to be segregated and protected from the rest of the business -- had gone missing. MF Global has caused the markets and all of their traders lots of heartburn and unessesary stress.

Can somebody help me understand how the CME clearing house is not backing up their members (traders and brokers) who had their accounts frozen and maybe destroyed ? Isn’t that the role of an Exchange to protect it’s membership ? I don’t get it, if the CME guarantees a members segregated account- how can it NOT be ultimately responsible? Another example of the regulators being asleep at the switch..!!!!!!!!!


How about we get this right ,first thing I keep reading that Jon Corzine destroyed his firm
it wasn’t his firm and wasn’t his personal piggy bank. I think this guy had a gambling problem only with other people money and the US Regulators never bother to monitor him!.

How does someone loose a avg of 2 billion dollars a month as CEO? Goldman gave him the boot years ago and so did the people of New Jersey ! for being a loser and why would anyone hire a guy with a track record like his.This is the massive bullshit going on in Wall Street for many years. He needs to spend some time in jail along side Bernard Madoff, Mr Corzine has destroyed the trust of so many people !

Also shows for all the millions of taxpayer dollars spent running the SEC and the CFTC, they are basically worthless corrupted agencies. Do they ever spot anything ahead of time when they could actually do something about it? ! The US still does’nt have any regulations in place to stop this theft. When are they going to start acting and stop condoning this sort of behaviour.

America WAKE UP !

Insight: MF Global clients face day of reckoning as margins call

Call it the mother of all margin calls: Up to 50,000 former customers of bankrupt broker MF Global must find Approx $1 billion in additional collateral almost overnight, or be forced out of their trades.

Come Friday, with the mass transfer of commodity trading accounts from Jon Corzine's fallen firm to six of its erstwhile rivals, margin clerks will be wrapping up a reckoning of how much additional money is needed to cover millions of positions. Clients who can't quickly meet their margin will have to liquidate, making for a tumultuous day's trade.


A court order to move the trades late on Wednesday brought only marginal relief to clients who have been essentially frozen out of their funds and positions since Friday. While accounts will now be transferred more quickly, only 60 percent of the collateral will be moved to the new brokers.

Payroll Report ( NFP ) - Day Review

Trade Plan worked as expected, gap UP was faded and the 3 clues for trading the Nonfarm Payrolls worked like a champ.

Back to the states after a long journey to many islands destinations, scuba diving in the warm tropical blue oceans, while day trading the market.

Overcoming Great Adversity and Finding Your Niche Early in Life

This incredible lucky adopted child was not a software engineer or an electrical expert but his mental ability to overcome great adversity, obstacles , focus on his dreams and then excell to an amazing degree with the help of his engineer friend, is what we should all learn to admire from his life. He was the biological son of a Muslim from Syria and an American young college graduate woman.

He was odviously rejected by his mother, never contacted by his real Muslim father, rejected by the Corporate " experts " at Apple Inc , which he founded and he never had an adequate or impressive academic background ! His adopted parents were low income working class folks that never went to college !Odviously he had social intelligence.

This was the life of a persistent optimist with an incredible luck and spirit of success :


I wanted to pass this speech on to you today that Steve Jobs gave. It is truly inpiring and touched me when I first read it and hope that it will you also. I really thought that his legacy was overrated and that he was only another lucky entreperneur that gave us a portable hand held mini-computer, something that many other qualified experts thought about doing, but never produced.But I was right on :

'You've got to find what you love,' Jobs said,( comm'on Steve, we all do but not with your luck ! )

This is a prepared text of the Commencement address delivered by Steve Jobs, CEO of Apple Computer and of Pixar Animation Studios, on June 12, 2005.

I am honored to be with you today at your commencement from one of the finest universities in the world. I never graduated from college. Truth be told, this is the closest I've ever gotten to a college graduation. Today I want to tell you three stories from my life. That's it. No big deal. Just three stories.

The first story is about connecting the dots.


I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?


It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl. So my parents, who were on a waiting list, got a call in the middle of the night asking: "We have an unexpected baby boy; do you want him?" They said: "Of course." My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.

And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.


It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:



Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn't have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can't capture, and I found it fascinating.



None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, it's likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.

Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.


My second story is about love and loss.


I was lucky — I found what I loved to do early in life. Woz ( the engineer ) and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.



I really didn't know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down - that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.


I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.

During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the worlds first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple's current renaissance. And Laurene and I have a wonderful family together.


I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith. I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle.


My third story is about death.


When I was 17, I read a quote that went something like: "If you live each day as if it was your last, someday you'll most certainly be right." It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something.

Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.



About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn't even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor's code for prepare to die. It means to try to tell your kids everything you thought you'd have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.



I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and I'm fine now.


This was the closest I've been to facing death, and I hope it's the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:

No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.


Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma — which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.



When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960's, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with neat tools and great notions.



Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: "Stay Hungry. Stay Foolish." It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.

Stay Hungry. Stay Foolish.


Thank you all very much.

Steve Jobs , 1955 - 2011 ,  R. I. P.

Market Outlook - Long from Thursday

Consumer sentiment worsened sharply in early August, falling to the lowest level in more than three decades, even though retail sales posted the biggest gains in four months in July, separate reports on Friday showed.



Underscoring divisions at the central bank, one top policymaker on Friday said he had cut his forecast for economic growth, even as another said he saw no economic need for new monetary stimulus.

Business inventories rose slightly less than expected in June, suggesting firms remained cautious about future demand at the end of the second quarter.

Global financial upheaval was on the agenda on Friday when President Barack Obama met with top executives from the U.S. business community, the White House said.

If history is any guide, another oil-induced recession may be just around the corner, at least for the United States and some of the other developed economies.

Minneapolis Federal Reserve Bank President Narayana Kockerlakota said on Friday that he dissented from the U.S. central bank's decision this week to keep interest rates low until mid-2013 because he felt more policy easing wasn't needed.

During the trading day on Friday, there were rumors that Standard & Poor's would strip its AAA rating from the U.S.


Purposely orchestrating the downgrade after all markets had closed, it officially did so, leaving traders across the world wondering how markets would react.

U.S. stock futures opened off with losses of more than -2.5% and after a several-hour rebound.


On Friday there were  other sovereign downgrades from AAA status. There isn't much history of these events, but from the reactions in the local stock markets were not necessarily bad, especially during the next week or so.

Of course, this time is different due to the U.S.'s status, or former status anyway, so we'll just have to wait and see how things unfold in the coming days.

For what it's worth, there have been 9 other times in their 30-year history that the S&P futures dropped 5% or more in a week, slumping to at least a six-month low, then gapped down -2% or more on the open.

8 of those 9 days closed the day higher, and were also higher 3 days later. The average return from open to close was a whopping +3.1%, with the loser being -2.2% (from October 6, 2008).

Here are the dates, along with the day's return from open to close:


9/21/01: +3.5%
6/26/02: +2.4%
7/24/02: +8.5%
1/22/08: +3.3%
1/23/08: +5.4%
9/16/08: +4.1%
10/6/08: -2.2%
10/8/08: +0.3%
10/10/08: +2.3%

The crash in '87, when the futures lost -24% of their value between the open and close, just barely missed this study because the S&P hadn't closed at a six-month low the day before the crash. But it was very close, so at least worth mentioning.


Looking at the intraday pattern of some past crashes and mini-crashes, it's pretty apparent that things could get very ugly if the low set during the first hour of trading is broken later in the day.

It shouldn't be too long before traders start focusing on Tuesday's FOMC meeting and the potential for the Federal Reserve to say something different than they have been saying.


But Monday, especially the first few hours, will be dominated by traders re-positioning in a new world without a "risk-free" USA, and nobody really knows what that's going to mean. History says we should rebound in the days ahead, but history isn't much help in a situation that's basically unprecedented.

In previous short-term outlook, I had suggested: "...overall outlook for tomorrow remains bullish..." - Friday, the major indexes moved higher.


5 minutes is showing advancing  oscillator readings at session's end. Positive money flow on this chart would suggest the possibility of positive trading on Monday after the market open.  However 30 minutes charts are showing declining  reading at this moment. Taking into account the most recent bullish proprietary accumulation I would say that despite positive outlook on 5- and 15-day charts, overall sentiment is slightly in favor of Bulls.

My Position is Long , targets and other details vailable upon request.