The Student Loan Ranger

Going through the motions here, haven't really looked at anything on the list since Wednesday. New strategies etc mean a watchlist like this isn't really effective, but let's wrap it up quickly anyway.

• BRWM - Failed 200MA, about to trigger a short.
• ADN gave out short signal under 115m but this could be a fakeout
  
• AGK has done as expected and dropped to 660, let's see if it off this moves next week
• Perfect setup on GSK, 100% accuracy trade as it did what it said on the tin
• ADM just triggered a short entry on the closing bell on Friday
• No signal on AMEC as it looks to retest support at 855 again and holding up
• Descending wedge on BAY tightens, possible new all time lows as oil price soars here
• Would have caught a ST long on EXPN, but this dropped hard on Friday, potential breakdown
• FGP had strong gains until it hit my trend line and crashed hard
• IEC untradable at the moment
• MPI and SDR both on the verge of a similar breakdown
• No signals on IMI this week

The news about Fannie Mae (FNM) and Freddie Mac (FRE) in the US hit all the markets hard on Friday, with a lot of indices really crashing hard on the news, despite the shares gaining 50% on their daily lows. FNM and FRE were once $70 stocks in the last 7 months, both are now around $7.

RBS has hit another new low as it crashed hard below 200. The FTSE had a bit of a shocker, even as the US markets came back during Friday. Oil price is at another record high - this is why everything is so dangerous to hold overnight at the moment.

The price of oil only moves to new highs when the US and European markets are closed - therefore if you hold financials or anything oil related (airlines, car manufacturers etc) then you will get smashed at the open. There are no stocks that are safe to hold overnight, and certainly not over a weekend.

In my opinion, all this stuff about Iran is just hype, and they will not attack. Why would they? And why is ok for the US to have nuclear power and weapons but nobody else, the US would use them if they had to too.

Anyway, geo-political issues are driving the market more than ever, so you have a lot of action to monitor while you're trading. This is why I have setup my stall completely different over the next few weeks, until all the business is settled.

If you check these posts: here and here then you can read up on my new tactics and stocklist. Unfortunately this means no Crystal Balling posts, which is good for me as I need as much time as possible for analysis. I will try to post some trade analysis on the intra-day posts to let you know how I'm attacking the markets.

I'm looking forward to trading clearer markets once a bottom has been established, and the volatility has been reduced - but the scalp option is the only option at the moment.