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Gav's trading blog - Perseverance, Consistency, Confidence

Gav

What’s wrong with these people? ‘Westerners’

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I don’t normally post non-trading stuff here. But recent reports , particularly in Australian medias are just so annoying. Full of craps.

More ceremony fakes unearthed

Stephen Hutcheon | August 15, 2008 – 12:08PM

The Olympic opening ceremony featured faked fireworks, a fake singer who lip synced to another girl’s voice and now it appears that the children appearing in costumes representing China’s 55 minority groups were also fakes.

Full bullshit here

The only fact  is, western medias, yes, Australian, you are one of them, trying their extremely best to dig everything, anything bad, negative about China, about Beijing Olympics.

The fact is, China presents one of the greatest opening ceremony ever and great games, great people to the world. That’s the whole point. Look at the opening ceremony, the effort, the hard work, and the performance, it is almost second to nothing. I’ve almost forgotten about other Olympics, Atlanta? Sydney? how about you? Oh Yes, I still love the Barcelona opening, that’s awesome.

Man, you are missing the point, you are blind.

I am sorry, but Trader Gav feels really pissed by these reports.

Leave Aussie alone…

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Oh crap. That’s the term I used the most last week. :lol:. Man, Aussie dollar was breaking down again and again. It broke my 0.93 support, and now trading below 0.90. Holy smoke… 😆

I did not make money from shorting Aussie dollar last week. The excuse I am going to use is…I was darn busy with my day job. What a crappy excuse, isn’t it? 🙂  .. Nah, the fact is , my trading style tends to hold the position for a longer period, and negative interest position is not a good idea for me. So, I would rather stay away from the market.

Is next week a good time to short Aussie? I don’t think so. Well, at least I am not doing that. We have RBA monetary policy statement coming. But, don’t you think the on plate interest rate cut has already been priced in? Expect a volatile week, I am not trading. I would rather spend my time watching Olympics Games.

Here is the…..CHART!

[photopress:aussie_daily.gif,full,1]

Some statistics

[photopress:aussie_daily_trend.jpg,full,1]

About this tool

Here is the ETF ,CurrencyShares Australian Dollar Trust (FXA)

[photopress:FXA.jpg,full,1]

Chart is generated by Tradecision.

Bad coffee exits

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Starbucks pulled out from Australia by closing 61 of 84 stores.

In the case of one American coffee giant, globalisation deserved to fail. Starbucks makes really bad coffee.

Starbucks is almost entirely pulling out of Australia — closing 61 of its 84 stores. In Melbourne, just five of the 16 stores are tipped to remain.

when Starbucks came to Australia to bring coffee and the cafe culture to the masses, it found that we already had it. Particularly in Melbourne, we have better coffee and more relaxing cafes than anything that Starbucks brought with it.

If Starbucks can teach us anything, it is that in the global marketplace, turning up to compete just isn’t enough. You have to be really good.

Full article here

My point here is, Starbucks makes really bad coffee. At least , in Melbourne, I don’t find any reason to buy my coffee from Starbucks.

Worries in Aussie?

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Is Australia heading to recession? Some said next 3 months are crucial…

Think of it like this: we are in a car that has been braking sharply as a result of higher interest rates, higher petrol prices, diminishing household wealth and fear of what might lie ahead. Now the car has slowed sharply, the question is whether we, the decision-makers of the economy, keep our foot on the brake, and slow down even further, or release it to keep cruising at our present speed.

The Reserve’s goal was the latter: if Australia’s growth in output slows to about 2.5% — 2% excluding farms and mining — it believes inflation will gradually crawl back within its target zone of 2% to 3%.

Are the decision-makers, the good driver? Not too sure.

Full article from TheAge.com

EURUSD…Not yet, but soon?

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Daily chart of EURO is a beauty. Consolidation, breakout, consolidation, breakout. I love this chart. Well, we are again in the consolidation phase, and at the new high area. I remain positive now, which means I am only looking at the Long side at the moment. It depends on what do you want from the market. Accumulate long position to anticipate the upside breakout? or hold your breath now and wait for the breakout.

Here is the….CHART!

[photopress:euro_daily.gif,full,1]

Here is the statistics

[photopress:EURUSD_trend.jpg,full,1]

About this tool

And here is the  FXE (CurrencyShares Euro)

[photopress:FXE.jpg,full,1]

Chart used Tradecision

OIL..is it over? Yet?

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Let’s have a quick look at USO ( United States oil Fund, ETF) and spot Oil price.  I am not sure if people start talking about the bull run is over. Well, not yet. Uhm…I am not convinced, yet.  This implies, the recent strength of Dollar might be short lived?  There is another theme calling commodity run is over. I am not surprised to see these two theories now. Pickin’ top and bottom is just part of human nature.

For a short term trader like me? I am waiting 🙂

Here is the ….CHART!

[photopress:USO.jpg,full,1]

This chart is brought to you by Tradecision

[photopress:spot_oil_daily.gif,full,1]