Wednesday, August 15, 2007


20070815 1136. KLCI cash market plunges today, joining the global rout. The 200 Exp moving average level might provide the next level of support. As we said before, the focus now is on preservation of capital, and not cowboy trading, unless of course one has the short position to take advantage of the downtrend. The world equity markets (with the exception of China) paints the scenario of the following story. 3 weeks ago, 500 people went into a warehouse and set up boom boxes with plenty of food and drink. So they had a big party. However, unknown to them, there is only one 6 foot door as the exit, and there has been a gas pipe leakage all the time. Now somebody lighted a match and KA BOOM. Everybody is now rushing to the one small exit door and only a few has got out. The rest are still stuck inside the burning building and trying to get out."

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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From Dragons and Bulls by Stanley Kroll
Introduction and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system