Looking To Trade – Need Catalyst

As a fundamental element of my trading plan – I need to stay active. I rarely leave profits sitting on the table for more than a day, and equally – can’t stand sideways directionless action. My short-term trade technology has proven incredibly reliable once again as I have been 100% cash nearly 10 days now (Permit and Bonefishing in Punta Allen – please google it) and literally haven’t missed a pip. The majority of currency pairs (with a few exceptions) are sitting at nearly the exact levels as a week ago, while equities and PM’s have more or less treaded water.

This soon will change.

Thursday’s, with their barrage of U.S economic data have often provided swing points in markets – and I suspect that this week will be no different. With a bit of news out of Canada tomorrow as well the GBP unemployment rate, my current “tech” should have me on one side of the fence or the other, sometime late tomorrow evening / possibly early Thursday morning.

As difficult as it is to believe at times, and as little sense as it makes (considering the general state of “things”) I still favor further upside in coming weeks, but am a touch more cautious than I may have been prior. Obviously nothing moves in a straight line – so the usual zigs n zags are expected…as we likely “grind” higher.

Some signs of life also being seen in the PM’s and related mining stocks and etf’s.

I will continue to monitor commods vs USD as well JPY, and should the USD continue in another leg down – getting long GBP also looks like a promising trade. The JPY pairs have obviously had their “day in the sun” and I would be reluctant to push much further without seeing a reasonable pullback/correction before continuing (in general) short JPY against the lot. I’ve seen no real change fundamentally as the currency wars continue – with everyone taking their turn at bat. Perhaps Thursday’s U.S data will be the catalyst to push things firmly in one direction or the other.

9 Responses

  1. Jerry James January 22, 2013 / 12:35 pm

    Do you have a trading buy and sell service? Jerry James

    • Pot Stock Watch January 22, 2013 / 1:51 pm

      Hi Jerry…thanks for stopping in.

      I am currently putting it together yes. I’ve come to understand what kind of support / efforts are needed so…..I want to offer the best services I can.

      I imagine within the next few months max – Ill have the backend suuport / time / to launch.

      Thanks for the inquiry.

      • Nfxtrader January 22, 2013 / 4:30 pm

        Count me in!

        • Pot Stock Watch January 22, 2013 / 4:37 pm

          He he he…..thanx Nfxtrader.

          I can say with confidence – that after 4 full years in the making, and literally countless numbers of hours pouring over charts/indicators/programming/strategies etc this will not disapoint. I’m just in the process of getting the actual web based support / technical side of things down as I want to get this right. Im considering an interface where a trader can enter/choose a given currency pair ( and in turn stock symbol ) as well possibly time frame – and have my backend spit out the trade entry or exit on demand….coupled with a members area blog/weekly report as well real time trading.

  2. schmederling January 23, 2013 / 3:31 am

    hey kong… re entered yesterday before noon….:)
    just the one pair…. short usdjpy…

  3. schmederling January 23, 2013 / 7:24 am

    added to eurjpy,euraud & usdcad all short

    • Pot Stock Watch January 23, 2013 / 8:03 am

      Interesting trades Schmed – Im curious as to what you are seeing / the rational.

      Being short USD/CAD suggests “risk on” and dollar selling……which in turn provides EUR with a lot of upward action. As well if “risk on” is the plan – safe havens are sold….including the JPY so…a double wammy in EUR/JPY – getting long.

      • rolo January 23, 2013 / 1:52 pm

        Following your trades with interest Kong thanks

        • Pot Stock Watch January 23, 2013 / 2:01 pm

          Thanks rolo – Im going to post a reasonable update here pronto.

Leave a Reply