Monday, September 19, 2005

Who wants a cup of tea?

Another pathetic outing for the bluechips. Volume transacted is very light. Marine sector was almost asleep if not for very minor trades done. Capital Land had a pre close done at 3.10 with a volume of 2,000 plus lots, this came from a after bell 3.04. How wierd!

At the simsci front, as expected, it declined further today and recorded another lower high and lower low. However the closing is pretty promising as it leaves a trail of lower shadow. With the lacklustre performance of STI index and this good closing, good time may come soon. I cannot pin point the exact date and I believe no one in the world can do that. I did not trade simsci today as I felt neither comfortable shorting it nor going long. I would not go short because I can see from the lack of volume and yet resilence of price actions suggesting the bullish rally can happen soon. I don't want to get caught. I wouldn't long neither because short term wise we are still drifting sideways or lower. I rather keep the money in my pocket and wait.

For those who like fishing bottom, 2714 is the support. I'm betting simsci to close better than 2714 tomorrow.

Biosensor ought to be the highlight of today's actions. Again on news of patent win, it gained 10 cents to close at 1.25. The chart forms a very nice cup and handle breakout. A very classic breakout. Odds will be higher of the continue of the uptrend.