Wednesday, July 13, 2005

Market Tua Cheong ah!

When market wants to rally, join them! I call this riding on the bull run. Being the most hum ji trader of all time, I had gotten vested to play a part in this bullish mad run. This speaks volume of my faith in this run. I'm sure it will come to an end soon but surely not now! Why? Check out it out!

Vol 1115.6 M, Val 1071.3 M
Rise 365, Fall 147

Winners thrashed losers today yet again. A continuation of yesterday's trouncing. Check out the volume and value!!! No joking matter man. So I guess the bradley turn date is for the better than the worst. Again my gems posted gains or stood level. I'm not overly satisfied as the ratio for winners is 3:1. So unless you are running on bad luck, it's difficult to lose today. Many had warned about the high oil price, but I still don't see our market reacting to it ever since last week. Special mention about tech stocks is a must today. It seems like sentiment about the reversal in tech stock is very strong these days. The tech stocks has been running for weeks. I'm waiting for the next down to get vested. Retracement is a must to keep an uptrend healthy. So beware of catching stocks at their highest point.

On a day like this, I'm pleasantly surprised that my HGM actually went up to 0.480 before closing at 0.475. The world's steel price has fallen so it had no doubt affected the margin of HGM. However it must be noted, marine books are full and HGM's business mainly supply marine ship metal. Also, due to the over supply to demand situation in steel industry, output has been curb. Soon, we shall see steel price firming. This is just my hindsight and should not be taken as a reason to get vested in HGM.

The whole nation is talking about the NKF saga today. But i'm more concern that SPH has dropped 10 cents today. However i'm not too concern. From a technical point of view, the weekly trend is still up. What i see is a chance to add on my holdings if the weekly uptrend continues on a down day.

Two counters Jaya Holdings and Rotary was alerted from my system. I have posted the charts. This makes my gem list exploded to 8! What a good number. Auspicious! :D

Suntec Reits, really getting disappointed in this fella. It has close under resistance. I wonder if this is man made or is the sentiment really bad. One must note that Mr Lee KS has sold some of his holdings in Suntec Reits. Maybe it's time i consider to let go mine as it seems to be weak at the moment from a T.A point of view.

Unifiber, still yet to make it's move. Another heavy volume day today with big lots buy up. Soon...soon it will cheong...I must have the patience and trust my system. Sesdaq is having a fine run. Unifiber should join it soon.