Monday, March 20, 2006

Stock Market continues to favour pennies trading

Cheena stocks remained in the limelight with Casino plays firming up for a run. I can't remember the exact date but the tender for the 2 IRs ends sometime this month. Bank sector remained weak. DBS breaking $16.00 support finally dragging the STI index below 2500. Also remember to look out for Federal, Tiong Woon and Rotary. They are sister stocks who often time than not, run together.

We have strong sessions in Japan and US last week. This should set a positive tone in the morning. But, it is really the afternoon that counts. Right from the top of 2520, we have had a soft landing of the index to 2496. Index should find some support near term, form a base and continues the onslaught!

Rotary: It attracted lots of attention last week when it started turning. As anticipated, the 0.495 should more or less be a base for now. Check back the earlier charts for rotary to see if the build up make sense.

KeppelLand: Casino Play

Contel: It is very important to study charts of stocks that I have missed. Just like preparing for exams, you have to revise your homework. I didn't realise the importance when i was early in my trading business. Now, the more charts i look at, the more experience and knowledge i will have.

Capital Land: Casino Play.

MediaRing: Asysmetrical Triangle

Federal: Bollinger Squeeze.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.