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Sunday, November 7, 2010

Down 3.2% on the Quest to Invest to a Million


StatusTracking
Trade# 1
Current Holding Chevron (NYSE:CVX)
Purchase Price (CDN$) $87.82
Current Price (CDN$) $85.00
Gain/Loss -3.20%


This is do-it-yourself investing 101– up and down, hoping for gains, cringing at losses, and controlling emotions. We'd rather be up 4% going into week three, but we/re down 3.2% Temporarily off track.

Such is life, business, and pleasure. The course that you set out to get to the end takes a few detours. What matters is that you take the detours and get to where you need to be.


You have to analyze the facts, and leave the emotions on the side.


Dow Jones Industrial Analysis (DJIA): Bull/bear split almost 50/50

Integrated Oil Industry Analysis: Indications of trend reversal – current trend up, on the cusp of trending down

Chevron Candlestick Analysis (Monthly Chart): Price wasn't able to break resistance, and the hanging man logged on Friday indicate this one is going over the week or month.
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1288987200000&chddm=3910&chddi=1800&chls=CandleStick&q=NYSE:CVX&ntsp=0&fct=big



5-Day Chart: Three white soldiers and high volumes closed the week, indicating the price will go up on Monday

1-Day Chart: Three white soldiers and high volumes closed the day, indicating the price will go up on Monday

http://ca.finance.yahoo.com/q/bc?s=CVX&t=5d&l=on&z=l&q=c&c=

Conclusion: Continue to hold. Tomorrow we should be in the green.

Recommended picks for tomorrow on the TSX are TD.TO or ABX.TO based on technical analysis.

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