I’m back from vacation! I told you I would be gone, didn’t I? I had a good time with my kids island hopping, swimming, eating (my kids discovers “bibingka” rice cake with sweet coconut syrup on top), spending time and shopping for my oldies. I did leave word that market action would be choppy (markets going cha cha in this post) so I hope you too were able to take a break from the market, get rested or have fun.
I admit, I wasn’t able to totally stay away. Somehow, checking prices, looking up charts and reading up on news is already part of my routine. So I really had to be aware of my schedule and objectives so that I don’t get impulsive and open trades when I know the move could be short term and I am not available to monitor it. What really helped me is my trading procedure that I have documented step-by-step in my book, so don’t waste any more time and money in trial and error and get a copy of “High Heeled Traders” here. Or if you’ve got it, review! Like now!
So anyway, it is a pleasant surprise coming back from vacation to have US Fed Chairman Ben Bernanke “saving” the stockmarket from further selloff or prolonged consolidation and giving the market a boost with his statement supporting the current monetary stimulus. Talk about the “T” word (for tapering) got a little bit out of hand I suppose, with some saying the tapering could start in September (2 months away!) when clearly, Ben thinks it should be WHEN economic recovery is well and truly on the way. Jobs are the prime basis, so watch those job reports.
And watch out for more factors that influence the market, especially emerging markets like Thailand, Indonesia, Philippines (the stockmarket darlings of the year!) so you would know the best strategies for profitable trading in this current market. If you think there must be a better way (and there is!) rather than the often-talked up “invest for the long term”, especially when the market slides and profits vanish in thin air, then my upcoming webinar series “Retirement Investing Webinar” is for you! It is scheduled on July 25, 26, 27 and will be recorded for your convenience. Details here. I will have a free intro webinar so email charmel@highheeledtraders.com to register your interest.
