Wednesday, October 26, 2005

Mixed session, Direction unclear

Market is still heading to nowhere and trendless. I am staying away from index stock for the moment as it can swing either way. We saw how nasty it can get with a 66 points drop last week. However, i do note that the selling in some of the bluechips is weakening and that bargain hunters are buying hence supporting the bluechips. I shall continue to watch where index is heading. Trading requires lots of patience. Impatience kills in Stock Market.

I spotted another 2 breakout buys. The 3 breakout buys yesterday continued it's up climb much to my satisfaction. For those invested, let's hope we never had to consider selling. Cheers!

One thought I had about Technical Analysis. It is by no means a magical crystal ball into the future. The indicators provide us with the current trend and the buying/selling strength of the stock. A very complex chart with 5 technical indicators doesn't mean it will be of a more accurate reading. I do use RSI, MacD, Stochastics, Bollinger, Candlesticks formation and chart formations in all my analysis. However not every indicator will have something to tell about the stock. Hence I will only include indicators that will tell us what is probably going on.

Last but not least. I will be shouting breakouts at around 4:30pm if I spot anything. This is done so that we can get before market close. I had seen how we have to get at a more expensive price the next day. : )


Hyflux - great chance on weak pull back


Sembawang Kimtrans - Resume of uptrend?


Fung Choi - Something is brewing in this stock.