Weekly Results and Thoughts

I didnt do much trading or watching of the markets. I did take a position in USO, for what I hope is a pull-back in oil. I am also watching for an entry in FXE, for what I expect is a pull-back in the Euro. However, when I read this week that Jay-Z was flashing Euro's in his new video, I was wondering if perhaps the Dollar decline might be close to a bottom. Then I read this article, linked from the Kirk Report, which wondered the same thing. As the article says:

When people who know nothing about an investment start buying it, that's a good time to start selling it.

The Euro is stalling at the moment, and will probably pull-back, but I think it will be temporary. At least thats how I plan to invest for now. Or perhaps I am one of know-nothings jumping in?

As for stocks, I was watching, but passed TWICE on FSLR on Friday for a day trade. Too bad for me, would have been a great trade. I just froze, and saw it move higher.

I also watched a Momentum Trading DVD by Pristine. I have heard good things about them, but they just seemed too slick. The DVD is ok, but without the constant stream of cliches and over-reptition, the actual content could be posted in a small article. In summary, they advise buying pull-backs or breakouts near the 20 SMA that is rising in parallel with the 40 SMA.

I suspect there will be a low volume rally next week. I may look for some day trades. Good trading.