Massacre! Losers lead Gainers by an astonishing ratio of 4:1. While all along i had been noticing how our market was ignoring high oil price but not today. With Oil price hitting US$65 per barrel, our market simply gave way. It trigger broad based selling and most took their money and run away. But i am dead sure there are some who are holding on and hoping for a rebound. I know because i have done that before. Remember, in trading, you must rid of all emotions, greed, hope and fear....they disrupt your ability to think clearly.
Looking back, the signs are already showing when the leaders of current market is showing high shadows. Same for most bluechips like SPH, starhub.... Everytime they push higher, but end of the session close at low or near low. It's exactly what Livermore had said in his book. When the leaders are slowing down unable to hit new highs, the reversal is coming. What happened in the 19th century is happening in 21st century! Amazing! That's T.A for you. People often laughed at me for studying history price actions. But they do not know this, market do not change because people do not change. This is said by Livermore who noticed that the same greed, hope and fear happened all his years of trading.
Spotlight on Ho Bee! It recorded an amazing sets of record! Group turnover for the 2nd quarter of 2005 rose 196% to S$38.3 million as compared to the same period last year.
On a half-yearly comparison, Group turnover for the 1st half of 2005 went up substantially from S$21.2 million last year to S$120.6 million. This was again due to the sharp increase in the sales of both development and investment properties which rose 916% and 403% respectively.
T.A on Ho Bee has detected something is brewing. No wonder it is resilent to today's selling.
Starhub, ready to retrace?
SPH: Earlier suspiciuons confirmed
Semb Marine: False breakout
Noble: False breakout, i'm wrong, i cut. No sitting on losses for me.
Keppel Land
Ho Bee: Resilence....but for how long?
Cosco: Another titanic..
Capitaland: Let it form a base first
