Amazon Kindle #2

I received my Amazon Kindle yesterday.  Like I said in my previous post, I had watched a majority of the review videos on the Kindle on YouTube, most of them very critical about the Kindle.  The most notable criticism was that of the placement of the buttons and how easily it was for them to depress them and move the pages forward or backward by accident.  All I have to say about that is that’s complete crap.  The placement of the buttons on the Kindle I find to be extremely handy allowing you to turn pages from either side of the device no matter what position you may be reading in.  It’s very easy to gently hold the Kindle in your hand as you would a paperback book without being clumsy enough to constantly hit one of the page turning buttons.  You simply have to be conscious of how you hold the device and what you are doing.  I don’t find the placement of these buttons one bit as a hindrance or faulty in design and find them very convenient to use.

One thing I was pleasantly surprised about was after looking up the Whispernet coverage area on the map my location fell into an area covered by 1XRTT, which is the slower speed.  Upon booting up the Kindle I noticed that the Kindle’s wireless was 3/4 speed on the gauge and have had no problems downloading material to it.

I like the Kindle cover that comes with the Kindle and I have no problems reading the Kindle inside the cover.  The cover can easily be turned to the back without deforming it and is malleable enough to do so effortlessly.  I have no problems with the Kindle sliding out of the cover when I’m reading it or holding it and the moleskin is great to keep it securely in place when the cover is closed.  

I have no problem with the content from newspapers and magazines.  I’ve signed up for trial subscriptions of the New York Times and Newsweek and I find it very well-organized and easily navigable with a few pictures here and there that I have no problem making out.

Overall, I think this is a great product and will be using it frequently.  I think most of the reviews that have been done on this product with their associated criticisms are petty and highly exaggerated.  They may come out with the Kindle 2.0 but I am very satisfied and elated with the functionality and usefulness of this Kindle 1.0.

Amazon Kindle

I’ve been spending most of the day on YouTube looking up reviews that have been done by various people out there on the Amazon Kindle.  It looks like it’s a pretty cool device.  The common theme that I’m finding is that the buttons on each side of the device can be easily inadvertently touched and the pages turn by accident and many claiming a real design flaw.  Until I actually use it for myself, I can’t decide if they’re just clumsy or if that’s the way of it.   Mine should arrive Monday.

The other cool thing is it has a limited ability web browser that can be used to surf the web for free over the EVDO network.  The TOS says that they reserve the right to begin charging for use of the web browser in the future, but as of now it appears to be free to use.  Free use of the Whispernet is supposed to be for shopping at the Amazon Kindle store, the free use of Wikipedia, and the file conversion service they offer.  

As far as e-book compatibility, I did read one cool thing another person has tried and that is to rename non-DRM .PRB e-books that may have been picked up at Fictionwise.com, for example, and renaming them to .PRC and they will show up on the Kindle.  I haven’t heard anything specific that the Kindle will run .PRC files from Mobipocket but I’m going to try it.
 
Another thing I have been reading is that the device doesn’t seem to charge via the USB cable.  The user manual indicates it may provide a small trickle charge, which probably maintains the charge than charge it.  From what I gather it may work but you have to turn wireless and the device off to have any real shot at it.  Another post provided a link to a special cable that you can plug into the mini-USB on the Kindle and another end of the special cable into the power supply port and she claims this charges the Kindle.  It’s an 8-dollar cable.

Wealth

“Measure wealth not by the things you have, but by the things you have for which you would not take money.” – Anonymous

I think the things this person is talking about that become invaluable to you are the things you absolutely need, the basic necessities of life you have to have to survive.  It might be your food supply for the month, your automobile, your clothing, your home.  Without these basic necessities you’re left with pretty much nothing.  Selling these types of things might put money in your pocket but they become more valuable to you than the above example “must-have’s.”  I think the author may be also trying to make the point that there are some things of sentimental value that a person might have and would never consider selling due to their sentimental value irregardless the amount of money they may be worth, and he attempts to measure these items as part of your true wealth, too.  My feeling is both your basic necessities for survival and possibly those things you would not part with due to sentimental value can be considered a measure of your wealth because these things benefit the person intrinsically.

The Euro, Pound and Yen are in retracement phases right now.  The Yen is quickly approaching the 78.6/61.8 percent retracement level and there may be an opportunity to sell at this level.  It may occur overnight, however, so I may not get the chance to get in on it.  My plan is to watch it the next 5-6 hours for an opportunity.  The Euro is quickly retracing to support at the 78.6% Fibonacci with a favorable oscillator confirmation supporting the possibility of buying Euros.  This is another opportunity that may not present itself until overnight during the European session of trading, though.  I did bank 20 pips on my intra-day system last night on the Euro.  There is a potential position trade developing on the Euro but will not be clear until the end of the trading day tomorrow.  The down side is the trade will involve nearly a 300-pip stop loss so I won’t be able to leverage too greatly on the trade and need to keep risk to 5% or under for it should it develop a trigger by the end of trading tomorrow.  Intra-day this evening I will be looking for opportunities to buy Euros.

Economy/Healthcare

The Dollar/Yen, in fact, did take me out at my stop loss yesterday but did retest resistance with a nice reversal signal at the 61.8% Fibonacci.  I was able to sell again and did so successfully for a profit.  My long Euro trade also went to profit as well and my intra-day system last night profited me an additional 20 pips on the Euro.  I’m still trading long on the Euro and Pound this week.  I don’t know that opportunities will arise before Friday for another attempt to buy these currencies, but it’s a possibility if they retest support levels.  

It was announced today that the federal government just contributed $200 billion dollars to the bail out of Freddie Mac and Fannie Mae.  An additional $29 billion was spent to bail out Bear Stearns in March and AIG insurance company received an $85 billion dollar save from the government as well.  Other bail outs have totaled in the $450 billion dollar range and the federal deficit is approximately $450 billion dollars as it is.  What it comes down to is that tax payers are responsible for approximately 1.2 trillion dollars to cover all of it.  

As badly as things have gone with the economy with a Republican President in office, the onus seems to be pointed at him, if anyone.  I can easily see the country ousting the Republicans from the presidency and putting a Democrat in there for that reason alone.  I don’t know how with the Republican philosophy that taxes should be cut, especially for the wealthy, that we are ever going to pay back the debt.  The Democrat philosophy to increase taxes on the wealthy makes some sense as to where those funds might actually come from.  Listening to Sarah Palin, I really think that she could be an effective person to have in Washington.  I think she could really get this country energy independent, though, by the way she talks and could be a very effective VP.

Listening to McCain talk about healthcare, he proposes that individual states come up with a “Guaranteed Access Plan” that ensures all people who cannot gain access to health insurance can, irregardless if they have a pre-existing condition, and providing a tax credit usable for what I assume is insurance premiums for a policy of their choice.  All I have to say is good luck getting all 50 states to finally pull that together and offer it during your presidency.  I can see it being debated back and forth until absolutely nothing happens.  I can actually see Obama organizing a universal plan at the federal level more easily and offering it to citizens a lot faster than McCain being influential enough to get states to offer policies.

Profession

“The only reason for being a professional writer is that you can’t help it.” – Leo Rosten

It seems to me where Leo may be coming from is because he enjoys the writing process so much he finds himself doing it all of the time.  Doing something so often because you enjoy it so much, in my mind, can possibly be described as something you can’t help.  I think the same goes for any profession that people find themselves in that they enjoy.  They become somewhat addicted to the activity early on and end up doing it for life.  I can see this happening to pilots, programmers, athletes, and artists of all kinds.  The quote really explains why anyone aspires to do anything.  Anything that is enough fun to a person will be habitual and addictive–it draws you in whether or not you want to do it or not simply because you enjoy it that much.

I had 2 setups this afternoon on my swing trading system.  I took a short trade on the Dollar/Yen and a long trade on the Euro.  My Euro trade is working out well now up 54 pips.  However, after receiving a trigger on the Yen chart and going short on it, it decided it wanted to retest the previous resistance level and did so successfully taking me out on my stop loss.  It’s heading for the 78.6 Fibonacci, which is another significant level I may have another opportunity to sell the Dollar/Yen on.  I broke even last night on my intra-day system.  Still no setups yet on my position trading system, mainly because the dollar has been strengthening in a steady upward climb since early August.

Weight Loss Success

It’s been a relaxing Sunday!  I finally broke the 200-pound mark on the digital scale!  Since May 8 this year I have been on a reduced calorie diet.  Starting out at 248 pounds I have lost 50 pounds weighing today at 198.  My goal is to reach 165 pounds.  I use a great software program called Diet Power to budget my daily calories, monitor my progress, and log the foods I eat each day.  I find it very helpful in keeping track of the calories I take in and it offers valuable information and graphs to monitor my progress.  I’ve lost 2 pant sizes in the process.  One perk of the diet I’ve been following is I haven’t done one day of exercise.  Simply reducing your caloric intake without exercise has allowed me to lose weight.  My belief is that exercise will help you to burn extra calories but it speeds up your metabolism mostly so you can lose weight faster.  It also has its cardiovascular benefits as well, but my opinion is exercise is not a requirement to lose weight.

I watched the Colts play the Vikings today.  It was a great game.  The Colts had to play catch-up for parts of the game and were able to do it.  Peyton Manning and his receivers just seem to really know how to get the job done when they get focused and begin to drive down the field.  I expected after their loss to Chicago last week that Chicago must be an improved team this year but they lost to the Panthers today.  Another interesting game was the 49ers beating Seattle and the Raiders making a turnaround from their loss to Denver last week to beat their opponent this week.  You never know what’s going to happen in the NFL each week!

I’m looking for the most promising trades to come from the Pound and Euro this week.  I’m trading long on each of them, so I’ll be looking for retracements to support levels before taking a long position.  The Yen is pretty much all over the place and without any clear direction.  Nevertheless, I will be looking to trade short on the currency this week based on my observations of the weekly chart and candlestick formations there and the opening tonight.

 

Texas

It looks like Hurricane Ike did a real number on Galveston and parts of Louisiana, mostly affected by flooding.  The club Balinese that was made famous by the likes of ZZ Top, George Burns, and Frank Sinatra was completely demolished–a real piece of Americana destroyed.  The devastation in Louisiana from Hurricane Hannah was around 100 million dollars and the state has only collected 10 million in donations, state and federal sources to rebuild at this point.  Where do they come up with the extra 90 million to rebuild?  There is another storm meterologists have been talking about in the previous weeks developing off the African coast named Josephine.  I’m not sure if that dissolved or not but it seems if it still looms it is next on the agenda.  When you watch the weather forecasts you see the Hurricane travel directly over Cuba and categorized as a category 4 or 5 storm.  I wonder why we don’t get any kind of news or footage as to the destruction the Hurricane causes to that country.  It would seem it would be pretty bad as the eye of Ike went directly over it and I think Hannah did as well.  Not the best location to be in out there in the middle of the Gulf. 

I finished up my last day of medical transcription this afternoon.  I get tomorrow off and can spend the entire day watching week 2 of the 2008 football season.  What a great past-time!  I plan to watch the New York Jets take on the New England Patriots.  I believe it is being televised.  I’m curious to see how far Favre will take the Jets this year.  They have a definite advantage against former Super Bowl contenders, New England, since Tom Brady is out for the season from an injury last in week 1 against the Kansas City Chiefs.  I’m also interested in seeing how the Bears do against the Panthers.  I believe both games are being televised on the major networks.  Then, Monday night is a great game in the Cowboys versus the Eagles.  I’m not sure if Donovan McNabb is still there or not this year.

Hurricane Ike

It looks like Hurricane Ike is about to make landfall.  The eye of the storm is supposed to pass over Galveston, Texas, tonight.  I’ve been watching Fox coverage of the event.  They have been reporting the increased winds on TV most of the day.  There appears to be a vessel stranded out at sea with 22 seaman aboard that were unable to get to land.  It looks like they’re going to try to brave the storm aboard the carrier.  Galveston apparently had a major Hurricane come through in 1900 that killed 8000 people.  From what I have heard, 40% of the residents of Galveston have decided not to evacuate and stay put.  When they all end up clinging to their lives afterward they blame Bush for not helping them.  Get the hell out people!  It looks that most of the residents of Houston have been advised to stay put considering the failed evacuation attempt during Hurricane Rita 3 years ago when the Interstate became congested and fatalities resulted.  

My outlook for the major currencies going into next week is somewhat different than I had expected.  The weekly charts are showing reversal patterns on the Euro and Pound at around the 50% Fibonacci, so a bottom may have been found for these two.  My outlook for next week on my swing system is long on the Euro and Pound with a possible opportunity for a counter-trend trade on the Pound as it is nearing a significant resistance level with corresponding Fib.  I’ll be looking to continue selling the Yen next week, however.

I watched clips of the Sarah Palin interview on either ABC or CBS with Charlie Gibson the other night.  In my opinion when Charlie asked her about her opinion about the Bush Doctrine she appeared to need some coaching asking “With regards to what, Charlie?”  It’s pretty obvious that what he meant was Bush’s idea that a pre-emptive strike against Iraq was justified in order to prevent proliferation of weapons to the terrorists should they have them in their possession.  I felt somewhat embarrassed for her not knowing what he meant but she appeared to answer the question and get through the interview.  

911

The pound did reverse yesterday and I was able to take profit for 104 pips as it continued in its trend downward.  I banked an additional 20 pips on my intra-day system short on the Euro as well last night.  There may be opportunities to sell again on all 3 currencies tomorrow as they retrace to resistance levels and carrying trades over into next week.  Next week all 3 currencies look to be trading short again on re-analysis for the week, so if I get triggers tomorrow, the last day of trading for the week, in the short direction they can be held over the weekend provided there are no major news announcements scheduled over the weekend that could affect the currencies on the open on Sunday.

Today is the 7-year anniversary of the attacks on the twin towers in New York City.  I can still remember the day it happened waking up and seeing the chaos all over the news.  I still think Bush was right in his response to the terrorist attacks by going after Afghanistan and the Taliban.  The huge debate is whether or not invading Iraq was the appropriate thing to have done.  Democrats claim there were no weapons of mass destruction there or terrorists and the Republicans believed they were there and, afraid that if they did have them, they would be passed on to the terrorists to attempt to attack us.  Bush’s attempt to oust Hussain from Iraq was really out of mistrust of the country having nuclear weapons and passing them onto terrorists and supporters of the Taliban.  It’s pretty well known that Iraq never did like the United States, especially after our defense of Kuwait in the Persian Gulf War when they invaded that country, and if they did have any kind of nuclear or biochemical weapons surely Hussain would pass them on to the terrorists to use against us.  

Politics

The Euro has continued in its decline this week.  The pound did strengthen, met resistance, and reversed in direction of the trend but, again, it occurred overnight and I didn’t get in the trade.  The Yen did retrace up to the 50% Fibonacci retracement level and a significant level of prior support and resistance.  I was able to get into the trade short and I’m currently in it now.  If it doesn’t hold, other opportunities to sell again may lie at 61.8 and 78.6 levels.  I did have a successful intra-day trade this morning on the Euro short for a 40-pip gain.

I’ve been catching some of the political scene on TV.  Sarah Palin continues to read the same speech again and again to people that she gave at the RNC.  I believe she had over 30 million viewers at that convention.  It seems to me that nearly everyone who attends the rallies that she and McCain speak at most likely heard the same speech on TV at the RNC.  To me it’s getting pretty redundant.

Bill O’Reilly interviewed Barack Obama on his program.  I think tonight is the final segment of that interview.  It’s supposed to be a pretty big deal that he got the interview but I haven’t been overly impressed by them.  He did ask him about his prior associations with some somewhat shady characters but I thought Obama defended himself as well as could be expected.  At this point, I’m really impartial as to who I would like to see win the presidency.  

I like what the Republicans say about lowering taxes, but usually those tax cuts are for the wealthy, which they believe will encourage investment by the wealthy and stimulate the economy and create jobs.  I don’t directly benefit from a tax cut on those higher tax brackets, though.  As for the Democrats, they want to increase taxes on those making over $250,000 and those making less than that will not be affected.  Those who make incomes that fall in the 28% and less brackets also will not have to pay higher capital gains taxes according to Obama and I like that if that’s true but if McCain is elected he will work to make the Bush tax cuts, which include the capital gains tax to 15%, permanent and that’s fine by me as well.  I do like Obama’s plan for universal health insurance so everyone is covered.  I believe there are as many as 47 million uninsured Americans right now including myself, so it would be nice to have access to the same health insurance members of Congress have.