Sunday, September 03, 2006

Market inches higher!

Fantastic! We closed the week with much to be relieved about! Major indices did not make a U-turn nor break down decisively. Economic data out from the US on Friday simply rock the floor and US closed higher! The much anticipated "tua lao" breakdown did not happen. Ladies & Gentlemen, this is the market for you. Expect the unexpected!!! haha Psychology of market has it that, when many expect it to do something, it will just not happen! It only happens when you least expect it.

I was busy preparing plenty of teaching materials for my upcoming course to be held in September. A great way to refresh my memories on using indicators! haha Does technical analysis works all the time? Well I was so naive back then to think knowing technical analysis is all that I need to scalp money from market. Of course I was wrong and heavily punished! haha The truth is, it doesn't work all the time. Picking the right stocks and the timing is as important. These are from experience. A much respected friend told me, "Ah Dec, if you are willing to observe what is happening, you will learn to pick the next move" Words of wisdom. We see all those expensive courses out there claiming to own methods exclusively to them. How did they arrive at those methods? Observations! Scroll through past charts, understand what precedes the huge movement. Most of the time, you will find that, the same conditions happen again.

China plays got market interest in late week. I did a scan using XpertTrader and many of these china stocks came up in the results. Tomorrow at closing, if they are strong, worth a *tikam* try.

Stocks to watch:

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.