What a 1st Half 2020! A WYTA retrospective
On Monday 29 Jun 2020 8.33pm, I emailed Clients my latest post titled 'What a 1st Half 2020! A WYTA retrospective'.
Below is the full transcript of my write up:
Even just half way through 2020, I've to admit it has been a tumultuous and incredible 6 months for me.
'Tumultuous' as we witnessed raging bushfires, covid19, global lockdowns, negative oil, US civil protests, global reopenings, YNWA all in a span of 182 days!
'Incredible' as I continued my business direction into engaging UHNWI & Family Offices as well as dipping my toes into pe. Saying that, it is likely the aspiration of penning my first book will be pushed into 2021!
This evening I'll take an opportunity to look back at my WYTA (whatsyourtradingangle) writeups of the last 6+ months - a retrospective view if you will:
1. On Market Analysis
Of special mention was the post titled 'Thank you Mark Gor!' on 23 Dec 2019 which I wrote then:
'Oh by the way, penning this week's post about why markets' rallying does not mean I have changed my perspective that the US markets likely still need to see the pullback I've been anticipating. The initial depth, momentum & support of the pullback will likely determine whether I will get that 30% meltdown into SPX2200 (most bearish scenario) or not.'
Unless you are living under a rock (or if you are not following me!), the S&P500 Index (SPX) fell from grace at its zenith 3393 on 19 Feb to its nadir 2192 on 23 March 2020 for a nasty 35% drawdown!
Make no mistake, the feeling I've when Mr Market obliges your view is simply on cloud nine!
(Reference - www.facebook.com/whatsyourTA/posts/795128070951708)
2. On Awards & Endorsements
Now the 2nd writeup was actually one that I posted in various of my social media channels but didn't have the opportunity to update my Clients due to the hectic Q2 conditions:
In our annual company D&D on 15 Jan 2020, I am very honored to be endorsed by PhillipCapital as a Key Opinion Leader (KOL) in Market Analysis as well as a Branding Champion in Social Media Marketing! Pls click here to find out more - www.thom-ng.com/cmt.
Thank you Chairman Mr Lim Hua Min & PhillipCapital once again for the confidence & vision you have in me!
(Reference - www.facebook.com/whatsyourTA/posts/833920117072503)
3. On that 'only financial asset that isn’t someone else’s liability' - Gold
In my 4 Nov 2019 writeup, I said,
'Looking ahead, Gold price has now formed a bullish Descending Wedge Pattern that usually resolves to the upside. My original pattern implied target from the 18 Jun 2019 post remains at 1700. Pls see also attached whatsapp broadcasts to ThomasBCP Group (image 1) as well as my opinions to my other Clients to 'Hold the Fort' in Gold (image 2 & 3).'
As of Friday 26 Jun, Gold closed 1769.90 and is up +17% while SPX is down -1.9% over the same said period. I rest my case.
(Reference - www.facebook.com/whatsyourTA/posts/753910408406808)
4. Ending note
The next 6 months will likely again be tumultuous but exciting no less. As I peer forward with my 42 global charts, Clients pls feel free to drop me a line to pick my brains for the trio outlook of Stocks/Gold/USD, their inter-market relationships and how it may influence individual stocks selection.
As usual, Live Long & Trade Well!
Thank you & regards
Thomas Ng, CMT
Principal Trading Representative