thoughts2 Mar 2011 10:46
indices are on a correction mood finally! Bank sector stays stable thanks to STAN - record profits, that definitely saved the day in the banking sector as on negative news banks would of plunged further 1-2% and most would go below important support levels triggering further falls, specifically rbs stays on the pivotal point and 50% fibo, lloy on some good support, i thought of 60.99 went a bit down but closing above 61p would definitely be a good sign, i think more of just below 62, could be even a bit higher. Big rally is on the way in the bank sector starting probably this week, i am long on lloy got another tranche on auto buy at 61p but still waiting to get in with more funds.
Good bets coming, i would of participate probably with sar or yell on the proper price for a 12 month time definitely 100% +, unfortuantely i need my money for my business, i need it since november but keep investing :)
Party is my last bet probably for the next 6 months, i will wait for the correction, then i will get the profits of the recovery + party, des went well last few days on the anticipation of the drill, regardless it works or not hype will move it to nice %, ifl moved well got my 16% but still have some at 24p.
In regards to rules ... i dont think trades should be restricted sometimes i have 15-20 trades a month, sometimes 1-2 depending on market, you have your pot, invest it the way you want it, trade cost should not matter, % as well, i never cared of %, all i cared is how much money i have in the begining of the year and at the end of the year, never cared about % of winning trades and losing ones as sometimes i day trade, sometimes swing trade, have some long term as well, so you cant compare winning % as profits and loses are different.
Party recovered again after a drop, still no direction, technically we got over resistance, volumes are missing, all we need i believe is news, either good results or news across the ocean alllowing online gambling, either to happen will start the party, obviously nothing else works, this share is not shorted anymore, buys are coming and still no movement north or south.
Good luck to you all :)