Tuesday, May 23, 2006

Stock Market Rebounded But Only Just

A very rocky day as we tested 200 MA and now resting slightly above it. My next anticipation is for another leg down to test or even break it on a lesser volume and Technical indicators showing divergence. This will complete a nice bottom and get ready to reverse back to the uptrend. But this is just my anticipation. Market fallen so fast and hard, it will take some time for it to recover. Let's watch on.

Today lots of stocks rebounded with volume. Seems to me some of the China plays are still in demand as bargain hunters picked them up today. However I do not rule out another test to the lows.

Somehow, time seems to be on the bulls side. June seems like a good time to form base for a rally in July due to the results season. Hence, for better risk/reward I will pick up stocks during World Cup instead. Otherwise I may end up losing unnecessarily.

GrowMoney QuickPick
Some of the stocks which I think looked interesting.

Keppel Land
Capital Land