Tuesday, October 10, 2006

Market shakes off Nuclear Threats

Underlying strength is bullish! Bargain hunters stormed the market after US ignored Kim's nuclear test. I picked up 2 more stocks today, ChinaDiary & Media Ring. Nope! I did not sell my first batch of MediaRing, i added more today. Both counters had registered high volume breakout and true enough, a scan on my XpertTrader confirmed that. From the list, I observed SPH had cut above it's 200MA! Sunshine days coming for SPH fans! 200MA support at 4.14. Also, I saw Datacraft beginning to be active! With a hammer on the weekly chart last week, if this Friday it closes with a white candle, it is a candlesticks reversal pattern on the weekly chart.

STI is within 18 points to 2665, the high in May'06! 18 points is easily achievable! We rebounded off the gap resistance turns support. ShowTime!!! Sheng sheng sheng!

Another thought, with splendid performance by Ezra, Labroy & KS Energy, will SembMarine starts to move soon too? hmm...

Interesting Results from XpertTrader Screening Rules:
Nearing or at All Time Highs
CGTech, Genting, HoBee, HongGuo, Jaya Holdings, Midas, Labroy Marine

Position updates:
Capland, MediaRing, ChinaDiary, Cosco

Sector in play:
Property, China plays, Gas & Offshore

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.