This is how we do it…it’s Friday night…

Well, here it goes…my monthly contribution to this blog.  I am trying to keep it up to date as often as possible however LIFE seems to be getting in the way.

I have been able to steal a few minutes away this beautiful Friday morning while visiting my wife’s family in Knoxville, TN.  So, here I sit at Panera typing on our little netbook, eating a pecan roll and drinking my second cup of coffee.

During the drive down I downloaded a new book on my Barnes and Noble e-reader – “SuperFreakonomics.”  So far, 1.5 chapters in, I am thoroughly enjoying it, very entertaining and slightly educational…more novelty than fact but still a good read.  I do recommend it.

As for my trading, I couldn’t be happier.  I stuck to my guns and trusted my analysis while my short positions from 1.5100 have paid off big-time.  Would I be so proud if we were staring at 1.6200 by now? No, but I tell you what I would’ve done…I’d have added to my short position.  “You’re crazy!”, you say…In agreement, I respond,  “I’m a FOREX trader – of course I am.”

I’ll tell you what I am not, what the U.S. Government and major media networks want me to be, and are trying to make me – DUMB!  I will be honest, I don’t understand most things in this world: economics, politics, oceanic currents, etc. etc. However, one little tidbit has worked well for me and my strategy and I will share that with you here.  Get a pen and paper out, you’ll want to write this down.

Do your own analysis, trust your gut, and most of the time – you’ll do the exact opposite of what the majority is screaming and telling you to do.

Right now I feel like Matt Damon in Oceans Eleven when he says, “Basically a smash and grab job, right?” and  George Clooney responds with, “Slightly more complicated than that…”  Of course trading, life, and work is much more complicated than the simplified paragraph above this one, but build on that and you will find what I did.  A strong foundation of questioning the majority will serve you well.

Practical, recent examples – 1. Good ‘ole Bernanke talking down the dollar – don’t we have laws against Treason…not sure how they’d apply, but it should be illegal.  2. Gold @ 1140/oz,  ’nuff said.  3. U.S. Markets rallying on…um…let’s see…uh, speculation the recession might, possibly, maybe will be over sometime in the near…wait, let’s not get overzealous…we’ll just say, “in the  future?”

Not that I’m a big fan of George W, but he caught hell for “declaring” the war over in Iraq.  I think it is a bigger deal that our government has pretty much “declared” this recession over and are, I’ll say it nicely, “encouraging” us to put OUR hard earned money into an inflated, puffed up market that has yet to prove it can handle the weight, but I’m sure it’s “FINE!”

Ok, I’ll leave it there, but I am out of the market as of today with my profits in hand, looking for another opportunity to go Eur/USD short.  I would like to see a bounce of some sort actually, it has moved to far to fast and it is quite alarming…

Have a great weekend, see you around the block.

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New Career

If anyone is still out there that might stumble on this blog and read it, I want to let you know that I have started a new career.  I am no longer the owner of a sign company but now I am an Agent with New York Life.  I am proud of my new position and extremely excited at the idea of working with the top Company in this field.  To clarify, YES, I am a Life Insurance (oh noooo, the horrors!!!!) agent, but I want to make sure that people understand it is more than that.  I work in the 3 financial phases of life, protection, accumulation, and distribution.  I do sell life insurance, but it is a tool that helps in all three.  I can help people with protecting their family in the event of the death of the breadwinner, I can help a young family save money to buy a house, and I can help as people reach the retirement age with making sure they will never run out of money. My goal is to help as many people as I can.  The question becomes, can I help you? Please email me @ mdgoldsborough (at) gmail (dot) com.

As this blog continues to evolve, I will be posting still about trading and what I am doing in the markets, but mixed in here will be little financial tidbits that I hope will be of some use to my readers as they plan their financial futures.

As for my trading, it has taken a break due to the rigorous training program NYL has me going through, but it will pick up soon.  I did however take advantage of the Divergence on the E/U and rode it down for a bit…I still have a short in and will add to it as it moves against me.

 

 

Divergence?

My Divergence Charts and why I think the SP500 and the Eur/Usd are just about at the top of their respective rallies.  I am putting a lot on the line – my credibility (which isn’t much to begin with) and most importantly, the money I have invested by others in my abilities.  I am heavy short on E/U and not ashamed to say it, I have a mental stop loss and plenty in reserves to cover, but the market has not performed like it usually does…even in whipsaw markets it’s more predictable.  This bull train is moving fast and really has no reason to continue except the path of least resistance…

Money flows are waiting for a pull back, but investors are anxious to get in and are afraid to miss the boat…hence the tiny pull-backs/consolidation and then large moves up.

Below are my charts to semi-backup my idea…

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Explanation of my brief hiatus

I took a break from blogging for a few weeks due to a family emergency.  It wasn’t so much an emergency, but more so a tragedy.

My grandfather Cornelius Spencer Goldsborough, Jr at 84 years old passed away on Saturday Morning, August 8th, 2009.

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He was a Man of God, a husband, a father, a grandfather, a great-grandfather, a Marine, and a proud American.  He gave as though he had unlimited resources on a fixed income and when he couldn’t give money he gave his time, always with a smile. My Grandfather has a special place in my heart and has had an impact on my life that is unexplainable.  I’ll go on with my life but I fear that I’ll forget the things he taught me or I’ll forget that smile and wave from the end of the driveway after his trademarked, “Bye now”. I don’t want to forget, I will never forget.

His Joy in life was the family he had, both relatives and friends.  Seeing him with my nieces and nephews; that smile on his face, the happiness in his eyes, and the satisfaction, knowing what a wonderful family he started and raised.

Nothing will ever be the same, no family get-together will be complete with out him.  But I am so happy to have a great family to share in the memories with me and my wife Kim.  From all of this I have learned that life is to short to hold grudges, to not enjoy each others company to the fullest. Love much and be loved, embrace those around you because you never know if you’ll have another chance on this earth.  Last but not least, explore your purpose here, investigate God and Jesus Christ, they can fill any void in your life, and fill it with overflowing abundence.

I love you pop-pop and I’ll see you soon. (Grandmom says hi too and she misses and loves you.)

Now…back to your regularly schedule program…”Press your luck!”