analyst75

INSIGHTS INTO THE MINDSET OF SUPER TRADERS – Part 7 “I appreciate the opportunity to manage money for others. A lot of people don’t enjoy it, but I do.” – Mike Melissinos Name: Sam Zell Date of Birth: September 27, 1941 Nationality: American Occupation: Business magnate, investor and philanthropist Career Sam’s parents were Jewish immigrants who left Poland to settle in the States before the outbreak of the World War II. Sam was born in Chicago and he attended Highland Park High School in Highland Park, Illinois. He obtained a BA from the University of Michigan and later, he obtained a JD (Juris Doctor) from the University of Michigan Law School. In 1967, Sam founded Equity Group Investments. Bob Lurie Robert H. Lurie joined him and they worked together to transform the firm into a vast business empire. Lurie died in 1990, but the business continues to grow and grow and grow. One source confirms that the majority of Sam Zell’s investment portfolio ranges across industries such as energy, logistics, communications and transportation, but he is often best known for his pioneering role and stewardship in creating the modern commercial real estate industry. Moreover, EGI’s holdings also include fixed-income investments in public and private companies. Sam is involved in various international and local causes, donating generously to them, including education. He’s blessed with 3 children. As of January 2015, Sam was worth about $4,900,000,000. Insights: 1. Good traders and investors are able to tackle the uncertainties in the markets, solving the problems of the unpredictable nature of the markets in simple ways. That’s the secret of our ongoing success. We make complex problems (that put off people from the markets) look simple. We simplify these problems and come with simple solutions. That’s exactly what Sam has been doing in decades – unraveling the mystery of various markets and amassing huge wealth by doing so. 2. There’s one though-provoking quote on Egizell.com, which says: “Solid business strategy is not anchored in suit, or a tie. It comes from the gut. Corporate culture can’t be dictated. It comes from the soul. A great company comes from the heart.” How true is it! 3. The qualities of a good trader aren’t measured by her/his attitude when things are right, when things are fine, and during winning streaks; but when the road is rough, tough and during losing streaks. Conclusion: Winning strategies are the ones that go contrary to the expectation of the public, and that’s why it takes serious discipline to follow such strategies. We want to follow good strategies when they work and when they don’t work. This article is concluded by a quote from Sam: “The reality is that I need to be challenged and interested, as long as the risk and reward is in line.”

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is still in a bullish mode in spite of the effort of bears to pull price down. There are support lines at 1.1100 and 1.1050 and a downside breach of the support lines would result in a new bearish outlook. There are also resistance lines at 1.1400 and 1.1450: an upside breach of those resistance lines would result in further confirmation of the existing bullish mode. However, even if the market moves further upwards, it is more likely that it would become weak by the end of this week or before the end of this month. USDCHF Dominant bias: Bearish On USDCHF, last week was characterized by desperate struggles between the bull and the bear. The bear is still strong enough to check the bull from realizing his objectives and as such, the bias on the market remains bearish. A movement below the support level at 0.9250 would result in a stronger bearish propensity, especially when price closes below the support level and moves further south towards another support level at 0.9200. This is because price could not close below the support level at 0.9250 last week, and a movement below it would mean that the bear is stronger. However, any significant weakness in EURUSD, which may happen before the end of this month, would cause USDCHF to rally seriously. GBPUSD Dominant bias: Bullish Cable rallied by 300 pips last week, rising from the accumulation territory at 1.5250 and closing above the accumulation territory at 1.5550. Further upward movement is possible, enabling price to reach the distribution territory at 1.5700. However, a strong bearish trend is anticipated on Cable (and other GBP pairs) before the end this week or this month. This bearish trend might also be in force in most of July 2015. USDJPY Dominant bias: Bearish This currency trading instrument has already gone bearish – though the bulls are fighting a losing battle to reverse the trend. Price tested the demand level at 122.50, and then bounced upwards. Though a movement above the supply level at 125.00 could challenge that new bearish signal, the upward bounce could also bring an opportunity to sell short at a better price. In case of further southward movement, price could breach the demand levels at 122.50 and 121.50 to the downside. EURJPY Dominant bias: Bullish On Friday, June 12, 2015, this cross closed at 139.00. The outlook on the market is currently bullish, though threatened. Price needs to move upwards in order to save the bullish outlook. A breach of the demand zone at 138.00 could result in a Bearish Confirmation Pattern, and as such, price should not go below that demand zone; otherwise the recent bullish outlook would be rendered invalid. This cross, plus other JPY pairs, has a high probability of becoming weak by the end of this month and in most of July 2015. This forecast is concluded with the quote below: “…The only truth is the chart. Don't ever listen to the news without looking hard and long at the chart. The chart is the truth. Nothing else is the truth.” – Scott Brown ]