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Trading Strategy for Nifty Future-04th October’10

  
  Education
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Losing traders often take themselves quite seriously and seldom find humor in market analysis or the trading environment. Successful traders are often the funniest and most imaginative people you will ever meet. They take joy in trading and are the first to laugh or relate a funny story. They take trading seriously, but they are always the first to laugh at themselves.

CONCLUSION:Its no wonder that one of the first things psychiatrists test for when treating a patient is whether or not the patient has any sense of humor about his affliction. The more serious the tone of the individual, the more likely that insanity has set in.

Above 5566….Target intact of 6336-6593 level !!

On Going is 34th Month from High of 6336 & This week will complete 144 weeks from High of 6336.

(Major Turning …Not ruled out )

I know u all missed rally from 5356 (Low level )…Kissed Trendline and Taken U Turn.No worry @ all.

But…..Why u all missed EXPLOSIVE rally of life …Once it closed above 5566 for 3 days and then Weekly close was also given.

-In Just 15 sessions it flared to 6184 level-

Jump of 618 points !!

On Friday it was Boldly written :Small Triangle formation had occured !Today or by Monday……..Exactly will come to Know :Nifty Future will zoom to kiss 6200 or will crash to 5800 level.

-On Friday itself……zoomed by 154 points !!!

-Again ,Iam writing here…Not interested to Impress anybody…that this happened that happened….(It’s by God Grace and Hard work only ).Levels ,Time will not give u money :U should have Strategy and Trading is an art (90% will never earn …it’s my challenge )

 New High this week ?

Can Happen……Once NF crosses & closes above 6253 level…..will zoom to kiss 6291-6336+ level.

Today ,Just watch :6189-6197

Crossover above these levels…….More Firework upto 6221-6229 level.

& there after :6253 level.

Suppose not crosses Friday’s High ( 6184 ) and Remains below 6170……then Intraday slide upto 6129————–6115 not ruled out !

Major Support at 3DEMA :6100 & 7DEMA :6048

(Untill and Unless ……Powerful Intraday Reversal …not occuring …No need to go short in Big Qty !! )

Writing/Barking…Since NF closed above 5566 level….it will kiss 6336-6592 level.

Daily Chart may Look……..Overbought

But Weekly chart………Still Hot !

& Monthly chart indicates………more Fiery move on card !

I will Update more to our Subscribers …During Trading hrs.

Updated at 6:57/04th Oct/Baroda/India

Warren Buffett on Chocolate and Candy

  
Analysis, Education
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The following video of Berkshire Hathaway’s (BRK-A) Warren Buffett, gives great insight into how he thinks before making an investment, how he created value added for the company, and increased sales substantially. No wonder why he is a billionaire and top trader and investor.

In the video, he discusses his purchase of See’s Candies, which operates over 200 retail shops in the western United States. You will also see Buffett’s sense of humor. If you have never had See’s Candies, you need to try some at your first opportunity. You will love the peanut brittle, my favorite.


 


If you think there are investment opportunities with other candy companies, here are a couple worth looking at.

Hershey (HSY), founded in 1894, is the largest manufacturer of chocolate in North America and one of the largest chocolate and candy companies in the world. Hershey’s Kisses were invented in 1901 and their chocolate chips were introduced in 1928. The stock has a P/E of 22, a forward PE of 17, with a flavorful yield of 2.8%. It sports a PEG ratio of 2.39.

Tootsie Roll Industries Inc. (TR) is known for its ever famous Tootsie Rolls. It also produces Apple Pops, Charms, Sugar Daddy, Sugar Babies, and Tootsie Roll Pops. The stock has a P/E and forward PE of 26 and sports a yield of 1.3%.

12 Trading Rules

  
  Education
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121. Loss of opportunity is preferable to loss of capital

2. Picking safe, readable, and ultimately high probability trades is the way to go

3. Use logical profit objectives for all positions. Know your exits and stick to them

4. Markets are squirrelly animals – make your trading plans ahead of the market

5. Don’t buy new highs or sell new lows – wait for the market to come to you. Buy retracements. If you miss the train, don’t beat yourself up – another one will come by shortly

6. Above all, follow your own trading plan and no one else’s

7. Trade quietly – with the exception of a mentor, tell no one about your positions, profits, or losses. This is especially true for those who are close to you, like your wife, husband, or friends. This self-gratification process or sharing process will put you under psychological pressure to win on every trade and can be a primary reason for failure to follow your plan

8. Don’t carry a sizeable position when traveling. The market will always catch you off guard at the most inopportune time

9. You are only one trade from humility. A swelled head does not belong on a trader’s shoulders

10. Add to your knowledge before attempting to add to your wallet. Newbie traders think they can become pros with little more than a computer and hope. In this business, hope is a four letter word. Show me a humble trader, and I’ll show you someone ready to learn

11. Develop your sense of humor – you’ll definitely need it

12. Help other traders whenever you can. This is more practical than philosophical – giving keeps the ego in line and when you need help, and you will, you’ll find it.

Best Disclaimer Language Ever

  
Education, Humour
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I like a legal department that has a sense of humor. This is the standard disclaimer that Contango Oil & Gas Company (MCF) includes with their quarterly earnings reports:

Lawyer Stuff
The future is unknowable. We have good intentions but all of our projections and estimates will be wrong, and could be materially wrong. Wildcat exploration is expensive, speculative and potentially dangerous. An offshore spill or explosion would be enormously expensive. We have insurance but it may not be enough. You could lose your entire investment. Don’t be lazy – read our 10-Q’s, 10-K’s and press releases, and if you lose money – please no tears.
“Don’t forget about risk-free T-bills in your portfolio…After inflation and taxes you’ll likely only lose 5-10% of your investment.”
– Contango V.P. Investor Relations

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