Heavy falls on Wall Street

To trade and invest profitably you need a plan ? a plan to maximise profits and minimise risk. Without a plan even the most experienced traders can be caught unawares and risk their trading capital unnecessarily.

In today’s uncertain markets, a sound strategy is more important than ever. There are abundant opportunities for profit, but taking advantage will require a clear and disciplined approach. With this complimentary publication, you will learn how professional traders plan profitable moves in all market conditions.

The most famous investor of all time, Warren Buffet, once said:

"The stock market is a mechanism for transferring money
from the impatient to the patient"

What the grandfather of investing is telling you is to keep a cool head and be confident in your investment convictions.

  • Metals all up overnight – Zinc up 3.48%, Nickel up 3.17% and Copper up 2.70%. Aluminium up 0.48%.
  • Oil price up 17.8% or $18.56 to $122.61 – it spiked more than $25 at one stage – breaking the record for the biggest one-day gain.
  • Gold up $44.50 or 5.1% to $909

Resources, gold, oil and energy sectors should be the focus of your investments. In the past week alone, we have seen:

  • A massive $US70 increase in the gold price overnight
  • The oil price spike back through $US100/barrel for an incredible $25 upside move
  • The largest one day move in Reuters/Jeffries CRB commodity index since 1956…

Our market is struggling today – down 85 or 1.7% – after heavy falls on Wall Street. Property doing most of the damage, down 4.8%, Financials down 2.8% and resources struggling falling 1.5% today after a big day of gains yesterday.

The Dow Jones had a shocker overnight – down 372 – Up 6 at best. Down 396 at worst. Steady descent all session – closed with downward momentum.

Nervousness and fear regarding the US$700bn bailout package caused the fall. Concerns are that it won’t stop a US recession. Political disputes as the bill passes through Congress lead to further insecurity.

US dollar had its biggest drop ever against the Euro, leading to the biggest single-session jump in the oil price in history.

~~ Stock Picks and Stuff from JJ ~~

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