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Swing Trading FOR DUMmIES ‰ by Omar Bassal, CFA 0011__229933668833--ffffiirrss..iinndddd iiiiii 77//2288//0088 66::3388::2299 PPMM 0011__229933668833--ffffiirrss..iinndddd iiii 77//2288//0088 66::3388::2299 PPMM Swing Trading FOR DUMmIES ‰ 0011__229933668833--ffffiirrss..iinndddd ii 77//2288//0088 66::3388::2299 PPMM 0011__229933668833--ffffiirrss..iinndddd iiii 77//2288//0088 66::3388::2299 PPMM Swing Trading FOR DUMmIES ‰ by Omar Bassal, CFA 0011__229933668833--ffffiirrss..iinndddd iiiiii 77//2288//0088 66::3388::2299 PPMM Swing Trading For Dummies® Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2008 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600. 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Library of Congress Control Number: 2008933744 ISBN: 978-0-470-29368-3 Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 0011__229933668833--ffffiirrss..iinndddd iivv 77//2288//0088 66::3388::2299 PPMM About the Author Omar Bassal, CFA is the head of Asset Management at NBK Capital, the investment arm of the largest and highest rated bank in the Middle East. There, he oversees all asset management activities for institutional and high net worth individuals investing in the equity markets of the Middle East and North Africa (MENA). Prior to joining NBK Capital, Mr. Bassal was a portfolio manager at Azzad Asset Management, where he managed mutual funds and separately managed accounts. Mr. Bassal also worked as an analyst at Profit Investment Management and launched a socially responsible hedge fund in 2002. He holds an MBA with honors in finance, management, and sta- tistics from the Wharton School of Business at the University of Pennsylvania. Additionally, he graduated summa cum laude with a Bachelor’s of Science degree in Economics, also from the Wharton School. He has appeared on CNBC and has contributed articles to Barron’s and Technical Analysis of Stocks & Commodities. 0011__229933668833--ffffiirrss..iinndddd vv 77//2288//0088 66::3388::2299 PPMM 0011__229933668833--ffffiirrss..iinndddd vvii 77//2288//0088 66::3388::2299 PPMM Dedication To my mother, my mother, and my mother — Maha Al-Hiraki Bassal. To my father, Dr. Aly Bassal. And my sisters, Suzie and Sarah. To my loving wife, Salma, and my brother-in-law, Hisham. And to my beloved nephew, Mostafa. They have always supported me in easy and difficult times. Author’s Acknowledgments I don’t believe any experience could possibly have prepared me for the rigor- ous schedule required to write a book. I can’t tell you how many weekends, evenings, and holidays were required to write Swing Trading For Dummies. The effort was, of course, worth it. But I did miss several episodes of Lost, The Office, and other shows. Alas, the cost of writing books isn’t measured in time alone. Before I turn this section into an autobiography (which I should pitch to Wiley as my second book, come to think of it: Omar Bassal For Dummies!), let me thank those who deserve thanks (give credit where credit is due, I’m told, is the way the kids are putting it these days). I first learned of this opportunity through Susan Weiner, CFA — a skilled and professional investment writer. Susan told me about a search Wiley was conducting to find an author for this book. Marilyn Allen, my agent, pitched me to Wiley. I’m honored Wiley offered me the opportunity to write this book. Thank you, Stacy Kennedy, for your confidence in me and your buy-in. Writing the book, as you may have gleaned from my previous comments, was a grueling, tough process, and Kristin DeMint was an invaluable resource. She was my project editor and made sure the book progressed. She often joked that she knew nothing about swing trading. But her “weakness” was in reality a strength. Not being an expert in the subject meant Kristin could offer help- ful comments on what might confuse a novice when I made assumptions or didn’t properly explain ideas. Kristin also kept a watchful eye when deadlines approached. Oh how I didn’t want to draw her ire. (I’m half joking. She’s actually a very sweet person . . . as long as I didn’t miss my deadline!) As my trading mentor, Ian Woodward, once said: Many hands make light work. In addition to Kristin, many Wiley staff members worked behind the scenes. Russell Rhoads, the technical editor, ensured I wasn’t making things up, and other editors — Todd Lothery, Jennifer Tucci, and Elizabeth Rea — made sure my grammar made cents. (They must’ve missed this part!) Though not involved directly in my project, per se, my family supported me throughout. That meant a lot. It’s not something I can put into words — even as a writer. 0011__229933668833--ffffiirrss..iinndddd vviiii 77//2288//0088 66::3388::2299 PPMM