Update for the Week

I was busy on thurday and friday that why i did not update the blog. Thurday i make about 600 buck from Google trading system1. I didnt capture my winning trade as i have to rush out to airport to show my friend around.

My GS almost drop till the predicted 155 on thur which hit its low at 158. With the news that the market has make 10% correction, the market immediately rebound and so do GS stock rebound from 158 till 170 at the close and close up by 6 buck. Then on friday before the market open the FED cut the discount rate from 6.25% to 5.75%. The whole market from bearish change till Super bullish so do GS from 170 jump till 180.

My sept GS put contract from profiting till break even. I did make 100 buck when GS drop from 180 till 170 and close back to 175.

Has the market recoverd?

Personally i dun think that the market has recovered as the subprime and credit issues still havent resolve yet. What unlce Ben did was to put a "bandage around the wound" to stop the wound from bleeding. Without the rate cut, Friday might be a very bearish day since the Japan market closes it low on friday and most of the asian market has suffered from it.

Analysis on Goldman Sach GS

According to my technical analysis, GS might still hit my 155 level or even below at 146. This is because the techincal analysis shown a third Elliott forming up soon. First wave it hit 179 low and 2nd wave it hit 158 low and third wave will hit at ?? . From my analysis it will most likely hit at 146.

When will GS hit the 146 level ?

Most likely it will hit that level either next week or first week of september. If it never hit it, most likely it will form another trend. Therefore i will keep a close look on the market next mon and tues which will be very crucial.

overall both my account grow by 10% for this month at the moment.