Our market was pretty resilient to the selling pressure due to the N.Korea missles test. China stocks were heavily sold yesterday and I warned of a sell off which never happened!!! Shooting stars required black candle confirmation for a bearish formation. During intra-day i observed that instead of closing with black candle, i was seeing strength in China stocks broadbased. Of course strength from Hang Seng helped alot. I revisited history back in 2005. Back then, i keep waiting for retracement to buy and market drifts further away from me! This time round, I am not stupid! When my anticipation of a pull back did not happen and instead the behaviour was strong, i just went ahead and buy instead of wait. I reckoned, as long as i have sound money management rule which is important for the long run, I should just go ahead.
From my system scan, the undertone of the market is bullish. Strengths are in Banking and finance and our China Darlings.
ChinaHong
MediaRing
ChinaPetro
ChinaSky
JurTech
Cosco
News:
Singapore Press Holdings Limited wishes to announce that it will release its financial results for the Third Quarter ended 31 May 2006 on Tuesday, 11 July 2006.
GrowMoney QuickPick
FabChem
FungChoi
Luzhou
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.
