After scanning through the market, i saw quite a number of index stocks with gaps existing and we are going to test that resistance. It augers well if we are able to close the gap. Also, plenty of stocks trading near support. It showed that there are still bargain hunters scooping in for them. STI's 200 MA at 2400 there abouts has been tested a couple of time. Each time we saw buyers swamp in to buy. Good sign. If market hold around 2400, I will start to collect stocks slowly throughout June...keke My eyes are on all the gaps in the index as well as some stocks. If they show signs of exhaustion gap, time to load up my dear friends. But if it shows breakaway gap, time to short! :D
Federal: Checked out the weekly chart over weekend. It's decline is more than the indices however the volume is low. Please do not think low volume is always good. Low and steady volume means selling in constant! When that happens, the down trend continues. All you need to do is look at the low volume Mar'04. Heart Wrenching. I had thought 50 cts to hold as support but that gives way last week.
What a surprise! Both Capitaland and Keppel Land had lost the IR bid! Both will be severely punished on Monday. Those who like to play intra day tomorrow, here's your chance! :D
