First of all, please allow me to wish a happy Easter to all of you. I wish you a very festive time with your families and loved ones.
Due to being Good Friday, the markets have been very quiet and liquidity is ultra-tight. Therefore we traded very cautiously today. Nonetheless all of our trades were closed with a small profit and we managed to increase both the balance and the equity of the account and increase our profits although it was by only a modest amount.
In line with our expectations, Japanese CPI showed deflationary pressures on the Japanese economy and the yen softened somewhat on further expectations of intervention and easing from the bank of Japan. I hope some of you took our advice yesterday and went along in Japanese equities and short on the yen.
US data which just came out showed that for the second time this month US GDP was revised upwards. From its initial value of 0.7% it was increased to 1% and then to 1.4%. At the same time Q4 consumer spending was revised upwards from 2% to 2.4%. Corporate profits were weaker than expected but this is quite simply in my opinion due to the dollar being much stronger in Q4. Therefore all of these recession crybabies who were talking about how growth in the world is slowing down once again find themselves with egg on their faces and it is no surprise to me that all of them have blown their accounts (in many cases for the 10th time etc).
Please be aware of these guys who try to con you for easy money. They span left right and centre and post graphs about how the world is on the brink of recession without understanding even the first basic of economics. If you actually look at the graphs that they show, all they show a line is getting higher and higher. Of course what goes up will eventually come down however none of these people have actually identified a point. All that is happening in their charts is that new highs are being achieved every week and by betting against these markets all they have done is lose hundreds of thousands of dollars of other people’s money while losing maybe $10 of their own.
Newsflash people, in a recession GDP doesn’t grow it shrinks. Unemployment doesn’t decrease it increases. How difficult can this possibly be to understand? Do not let these people try to put you into fear mode because that is their intention. Theymake you feel everything is going to fall apart and use that as an opportunity to offer you a deal that is too good to be true because fear is a great motivator and these scammers capitalise on that. Don’t fall for it. It is actually surprising that a certain network that claims to care for people’s safety will ban a certain account from the trader for a week preventing them from hedging and protecting people’s equity and yet at the same time it will allow these scammers to create multiple accounts having blown many previous accounts and then promote them and invite them as guest speakers and advise people to invest in them. Surely by now you have understood that this certain site is nothing more than a disguised casino. Realise that and remember the old saying that the house always wins. How many more times must they ban people because they’re quite simply winning too much? How many more times must a pull down their platform at the most “ convenient” moments?
With regards to our community I have created a new tab on the blog which will be updated regularly which will track on current performance and our targets. I feel that it will be inspirational in both good times and bad to show us all that despite our ambitious goals and despite how far we may be from them when we look at things in proportion to the timeline we are actually not as far away as we think and in many cases are sometimes even months ahead of schedule. Please do take the time to have a look when you get the chance. I think it will pleasantly surprise you as much as a pleasantly surprised me when I calculated the numbers earlier today.
In addition, I have temporarily suspended the forum. It has completely failed to be the centre of learning and sharing of knowledge and information that I hoped it would be and at this point in time I cannot bring myself to find the motivation to maintain it. In short it failed in its objectives and I feel that until I am able to do this full time, my efforts and time are best spent on concentrating on trading for us as a group, updating this blog with my fundamental analysis and outlooks and opinions and communicating with the community regularly via Twitter. Perhaps in future I’ll be in a position where I am able to put the forum back online and dedicate more time to managing it and contributing to it. Please rest assured that all data that was on this forum has not been deleted and has been backed up and can be restored at a moments notice when I feel the time to be suitable.
As promised, I’ve also taken the opportunity today to familiarise myself a bit more with the platform recommended to me by the Anonymous Economist. So far it is promising but I still need more convincing before I’m in a position to recommend it. Please do not think that I have forgotten. But also please be patient. As many of you know, having been burnt in the past by a certain site of gangsters, I can be forgiven somewhat for being overly cautious and overprotective of our community before I recommend anything.
Happy Easter everyone, wish you all a great weekend,