Sunday, February 26, 2006

Stock Market Resistance 2450 Breached!!!!

STI has broken the resistance and now we should expect some upside before the next consolidation. Things i will consider......earnings season is coming to an end, there will not be anymore reason for a sustained rally except General Elections....oil price has jumped $2 last Friday after a foiled attack attempt on Saudi's Refinery. This to me is just an overreaction by market. No real damage to the supply and demand. I looked back at Sept-Oct '05 period last year, we too consolidated sideways before a pop up then a sell down. Stock market never travels a straight line upwards hence i will be prepared to off load by holdings on the way up this time round. Remember i said missing out another 10% total trading quity paper profits after i let my profits run. This time i rather set a profit target!

I did some research over the weekend and found a strategy that works pretty well. You heard it free from me hor. Don't have to pay for expensive courses la. Especially if you have a small pocket, just do more Research and back test and thou shall be rewarded! :D

Ho Bee: Look at the 52 weeks high.

Celestial: This shows me why i should revamp my watchlist. The high goes higher.

The above strategies are best for full time employees like you and me. We don't have to look at the market whole day long and most of the time, it is profit immediately the next day. :D

ChinaSky Petrol