"The Internet is for porn" (Avenue Q)
Had a great weekend in London. We roamed around Covent Garden and L Square, bought some books with the tokens that my lovely work friends bought me as a leaving present, watched the show, and had a Waggamama afterwards - it felt like we were on holiday.
Got a call from my step Dad while we were in town. He wanted some dietary advice from the Mrs as the he can't keep anything down at the moment. The Chemotherapy is really starting to kick in now. Bummer.
I've been reading "How to trade in Stocks" by Jesse Livermore. Big Jesse was a real inspiration to traders, bit of a guru really, and I'm surprised I haven't read his book before now. I'm sure that a lot of the trading strategies and trend following training that has emerged over the years has stemmed from his techniques. I like the fact that he was a bit of a loonie - I mean he got his bank manager to lock him in the bank volt for a couple of days. It was stuffed with about $50m that he'd made. He wanted to stay in there to analyse his previous years trading and work out his trading strategy for the next year. $50m in the 1930's must have been like billions today. I dare to imagine what it must have smelt like in there after a few days, and what he used for loo roll . . .adds a new meaning to the expression "dirty cash" eh...
Anyway, I was surprised to learn that he suffered from clinical depression, and ended up committing suicide. He's a real inspiration (well, up to the point where he shot himself that is...)
It's too early to tell what's happening this morning with cable. At the moment it's breaking the daily uptrend, so if it stays lower (or the same) by the end of today we'll be on a new daily downtrend. Both the 1.486 and 1.434 are acting like magnets. At the moment, with the weekly downtrend confirming, it's looking like the next pivotal points over the coming days are more likely to be 1.434 or even lower at 1.4 or 1.377. I wouldn't rule out a bounce back up (after all anything is possible), but I'll be concentrating more on the downtrend trades this morning.