Thursday, September 15, 2005
Sesdaq steals the show
The top volume list was dominated by sesdaq listed stocks. The bull strength seems to have gone from Bluechips to the penny stocks. Let us do a quick recap, Monday, STI gapped up and close at 2325 level. It then began a puzzling profit taking on Tuesday followed by liveless trades on Wednesday and Thursday on smaller volume. Why had the interest suddenly died? In simsci, where there is lack of buying to push up to higher ground, but there was also strong support not to let simsci decline beyond support. Both charts look like a bottom is forming for a breakout. It's still early days. But I must mention that the lack of volume on decline is always a plus point for bullish market. I'm beting on the index to clear 2325 which was Monday's high. I see most STI component stocks testing resistance. So many of them! You can refer to my charts. They tested on Monday and had not decline deep enough for a bearish reversal. There seems to be buying support. No charts today as they hardly moved. The charts posted earlier are still valid. : ) I am anticipating a bullish rally. They offer very good entry points now. If you are wrong, just cut. If you are right, you will surely enjoy the massive ride up north. Bargain hunters should return to bluechips.