Time for our Monthly session. I will update you guys once I have managed to do up the Monthly Market analysis on video. Once that is up, you can expect massive value and content to be heading your way.
On a side-note, there is be no more 938FM radio interviews scheduled till 2017 due to my busy schedule. I will let all of you know my 938FM radio slots in 2017.
For those who have been following the market updates closely, I am preparing to take some trades either today or tomorrow. Be ready.
As usual, portfolio as shown below.
From the previous update, I mentioned that STI has been trading sideways and we have yet to see any real volatile action for traders to capitalize on. STI is currently near the bottom of the sideway range.
Congratulations to all the short-term traders / traders trading on shorter time frames, being able to ride on the penny stock runs for the past few weeks.
What is going to happen next?
Sideways traders may consider buying on a bullish candle, to capitalize on the range trade. If STI breaks the 2788 support region, we will see a continuation of a downtrend after a really long period of sideways movement. For now, I am inclined towards the former.
DJI and S&P
US elections are here and I have been looking forward to this event for many months now. I am hoping for the market to be volatile after such a long period of consolidation since July till now. Traders love volatility.
What is going to happen next?
The market conditions have aligned for me to take 1-2 long positions either today or tomorrow. I am going to trade today if the market opens with a strong bullish candle. If not, I will wait till tomorrow and prepare my trades again.
Stock Portfolio on $10k Challenge
As of 7th November 2016
Yep, I have no open positions at the moment and I have been waiting. Cut a few losing trades and I am at 24.4% returns to date for the year. See you all in the market!
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