Thursday, June 30, 2005

Losers lead again!

Although STI is in positive Territory, but losers still lead gainers today. So what if index is up? The fact is, more counters are heading south than north. Like that how to trade?? Well, the wise always says, "If unclear, stay clear"

Again my strict system doesn't yield any counters to get vested in. However, comfortdelgro should be put on radar. Their next retracement could be a chance to ride taxi to the north! It's way oversold on the weekly chart. The good news, it's ticking up. This "tick up" will have retracement along the way to test the top. Psychological side can be explained as buyers who bought at 1.70 has been long suffering. Once there is a chance to get out, they will rush for the exit. So if this rush for exit is well supported by buyers, it will form a oversold on the weekly and yet the uptrend on the weekly will sustain. This will be a good buy signal!

"Why are you so hum ji? weekly trend is up and yet you don't dare to buy?"
I rather trade on the safe side. If the uptrend is strong, it should not retrace until the weekly uptrend is reversed. Not convince? Check out starhub! Isn't it's retracement shallow? Uptrend steadily sustained on the weekly chart while we have over sold on the daily charts.

Gongkia and Jade, I hope my charts have given you another dimension to make your trading decision.

By the way, thanks for your visits! I have went past the 500 psychological barrier! :D