Sundays are special days for me.
I get up even earlier than usual – and usually start some kind of “exotic food preparation” as the sun pokes up, the birds start “doing their thing” and the wheels start turning.
It’s not unusual to find me in and out of the kitchen for most of the day actually, as an ingredient missed here or there, has me out to the market then back again – all the while “other recipes” dancing around in my head.
Sundays are for planning.
Often what I’ll do on Sundays is – break out the charts on every single asset class known to man, and pretend / imagine that I have absolutely no idea whats “currently happening in the world”, and take a look at everything from a purely technical perspective. Starting with big ol monthly charts, then weekly, then the daily and finally down to the “current action in price”. I’ll then plot some horizontal lines at key areas of support and resistance, and look to identify “how close or far” we currently are from these significant areas of price.
Chop some onions, start steaming the octopus etc….
Then I’ll do the complete opposite.
I’ll start poking around the net at the usual “news haunts” , make note of any significant developments as well any significant announcements due for the week ahead. I’ll re-evaluate / freshen up on interest rates across the board, and do what I can to formulate a general idea of where we are at – “without” looking at, or considering a single chart.
Squeeze limes, dice tomatoes , wash cilantro…..
Putting it all together in this way, lends itself to keeping an open mind , and often provides fresh perspective where “perspective” is needed. It’s easy to get overwhelmed while you’re in the heat of battle during the week, so the “sunday reprieve” is a fantastic way to just pull back and “re align” yourself with things, get prepared for the week ahead and enjoy some fantastic food as well.
We could very well be in for some big moves here in the week ahead, but for now………lets eat.
Sounds like a great Sunday, Kong! I don’t cook but I do take a relaxed and somewhat all encompassing view of the primary asset classes on Sundays. Credit, metals, stocks, and USD JPY crosses. Usually get a solid motocross session in and clean up around the house. My favorite day of the week. Have a great day and thanks for keeping it fresh!
As per your metals post I agree it’s looking like a pretty decent time to add or buy. I haven’t looked lately but I imagine the gold to miners ratio is a tad stretched. Miners are likely a nice buy.
Nice to take a day to reflect / chill you bet.
I imagine motorcross would be a blast.
looks really yummy .everything sounds perfect only a Chiko is missing 😉
You mean like…..the Australian “chiko”?
Sorry.My Spanish is rusty. It should be Chica….I guess.
OK now “that’s” funny Richard.
Yes! Chica ! Much better with “las chicas” – you’ve got it!
Sounds like a nice and relaxing Sunday. It’s good to learn about the methods of successful traders that I can try and replicate.
Thanks for that Kong, and bon appétit.
Yes Sundays are the day to get your head straight, and then approach the coming week with “some idea” as to what you might be expecting.
Getting those areas of support and resistance identified “ahead of time” takes alot of mystery out of the day to day as – “you are already expecting ” price to be moving towards one or another.
As well . taking some time to enjoy other things….as we can’t trade “every minute” of the day right!?
All trades aside Kong…. Great recipe mate! I’m a huge fan of Octopus!
I seriously can’t eat enough of em, and have taken the time over the past couple years to get it right “almost” every time. The ceviche is great , but I also love em in garlic butter / white wine / too.
After trying nearly every method in the book and online I finally came up with my own.
I don’t boil the shit of them as suggested “everywhere” I suspend them over boiling water in a mesh colinder and “steam” for around 40 mins per kilo.
Still a little rubbery at times but hey! It’s octopus right!
Hey Dr, Kong….. looks yummy!!!!
I still have the DXY working on rolling over here – I suspect we will get a good spark to the move come Wednesday…. I really don’t think taper will be on the table even though MSM is trying to push the notion to the retail investor. For me, I’ll be taking a break for the most part with the currency trade & will be focusing my trades more to the Diggers & Silver in the coming week. Granted I am more commodity orientated but as of last other sectors have had my attention while the PM have been in a funk….. I am of the opinion its time to start returning my focus & or attention to this sector at the present time or at least for the next 45-60 days!
Being moreso “commodity orientated” I can only imagine how thrilled you’ll be when things finally make the turn.
For those with small time frame / short term expectations this “massive correction” must be nothing but pain, pain, pain.
Funny….looking at a 10 year monthly chart of Gold for example….I wouldn’t even bat an eye. All is well.
I’ll look to catch momentum in the space, as another quick drop is just as likely as things get turned around. It’s futile concerning oneself with “exact” levels at this point.
You are either “in on the fundamentals” or not, and for those who are……these levels look fantastic long term.
I love octopus, best cooked very slowly with no water, just a little butter or oil.