The weakness in HSI continued after a pause on Tuesday. The blood shed caused many China Stocks in Singapore to dips. I'm eyeing levels from 19,600 to 19,800 for strong support, breaks that, 18,000 level is possible. From a level at 20,600 , I have traded my position down to 20,200 to 20,300 levels. One thing I learn is not to sit idle and stare at a position gone wrong. I must learn to manage my position. I remain long on HSI. If HSI can rebound from here, objective level will be at 20,600 resistance gap. If market should give way, I will cut away my HSICW and somersault to PWs.
Alot depends on Fed's minutes...with market giving no clues to what will be the result and stayed near record highs, this is the time to watch how the market reacts to Fed's minutes. Market gone up hoping Fed will cut rates this year. With Economy coming in good GDP numbers for the US, it means a strong economy where the Fed will unlikely cut rates. It will send waves of selling if they react to strong GDP as a sign of inflation worries again.... Tighten your seat belt!
The weakness this week sets up an excellent chance for a rally next week and to CNY. It just doesn't make sense to go up this week and continue up all the way to CNY..that's suicidal. Last week, I anticipated a black candle week before CNY, this week could jolly well be it. Until something adverse happens, everydip i will be picking up Strong uptrend stocks!
GrowMoney Growth Fund
CoscoCorp @ 1.31
TatHong @ 1.16
JiuTian @ 1.05
MediaRing @ 0.325
Jasper @ 0.025
Amara @ 0.450
SeeHupSeng @ 0.470
HSI CW
Activities
Cut Loss on Sinopipe Avg bought at 0.380 and sold 0.360
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Epure
Kingboard
I made a loss today after nearly 2 months of blissful trading...keke Ah....well... losses are part of the game. I know they will come sooner or later. Losses like this are insurance against heavy losses. Even if Sinopipe were to rebound from here, I won't relook until I get a T.A buy signal. It looks pretty ugly on the weekly chart for now.
SeeHS was bought at a wrong time, no buying interest at all this week. I am anticipating it to go higher on Friday. Otherwise, I will cut first. It is no surprise to see the strong stocks keep going and remain firm and those weak stocks remain weak.
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.
