Sunday, September 18, 2005

STI False Start, Simsci Tanked

The week ended with STI giving back all it's gains on Monday and went below it's support of 2308. Sesdaq is still hot while STI caught me off guard with a false start. I'm stepping aside for the moment to analyse the sentiment on the sidelines first. Something is going to happen, after a bullish Monday, we closed negative by Friday. Fishy.

SIMSCI updates: After I got off a blistering start to simsci trading, same old mistakes were commited. I was blinded by greed and fighting against the trend. My system was horrible, i over traded. The bullish Monday got inside my head and all i see was bullishness. What I lost in discipline and system, I had made up with cool money management. I closed out my positions after I hit my limit and decide to watch first. Inorder to survive in the market, trading system, discipline and money management are very important. Please do not find out the hard way.

Resistance at 272.2
Support at 267.7

Open 275.3
High 275.3
Low 273.1
Close 273.5

Previous tested support at 273.9 was broken and triggered many stops (including mine) The price opened higher and broke support. Not a very good omen.

SPH on the weekly chart

Semb Marine

Ho Bee

Capital Land