Dollar Weakens & Commodities Rally!
It's not entirely what I was expecting but the global markets seriously rallied today after the dollar took a pounding (ahem, excuse the pun)!
With that being said about commodities rallying, GOLD hit a new high again and is well on its way to my medium target of $1350! So hold on to the rodeo horse cos it's going to be a fun ride!
My favourite share of the moment, Kumba also closed up very strongly today. I missed the entry at 25000 by R1.00 on Friday with my automatic order in the system. Sometimes you get the trade, sometimes you don't. It would've been a fantastic entry however as the share closed R9.00 up from low of Friday.
Also, Anglo American and PSG were good trades today and I like the look of Datatec too. There is some convergence of the moving averages on that chart.
Platinum also pulled back on Friday and although it didn't quite reach my support level it certainly did weaken considerably. It gave entries to my other favourites Lonmin and Northam platinum. Both up on the day with Lonmin moving over R10 to the good which puts it at about 5% for the day. Can't complain!
Short term trading can still be exciting on day's like this when the markets run in your favour and you know you going to bank some serious profits over the next day or two. Stock market trading is not supposed to be a full time job. Learn to take short term trades with high profitability over time with consistent success!
Do this and you write yourself cheque for life! And you can enjoy life with some stock market trading inbetween!
Trade well, not often.
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