Looking at DJ's chart, I can't help but notice the high probability of a pull back. It is very extended right now and any pull back is only natural. However the fact that it is defying gravity and holding up seems the bulls are not giving up just as yet. Underlying tone is quite firm. I further checked the historical charts and found a similar pattern on Mar'03. There was a strong bullish move which stretches all the way to Mar'04. The similarity? There was no pull back. Current move starts in July'06, oh boy...can we match the same level? I am researching further on the economy front and other characteristics of the market back then to conjure an opinion. Right now, target of DJI hitting 13,000 is within grasp. We can achieve that, but bear in mind, it will not be 1 straight line up.
As budget day is drawing near, if STI is to rally, I should buy some STI components. That's why I bought Capitaland Call Warrants on weakness this morning. SeeHupSeng, a construction stock should move soon and if it doesn't, i shall take my loss gracefully. HSI behave exactly according to my anticipations, it tested the gap resistance now turns support successfully. We are on track for 21,000 levels. The delta of my warrants will be high at at least 80% should it hit 20,900 and that is where it will rocket in value all the way to 21,000. I am going for the jugular! Huat arh!!
What stand between me and HSI will be DJ, C'mon Uncle Sam!!! Just do it! 12,700!!!!! go go go!
GrowMoney Growth Fund
CoscoCorp @ 1.31
TatHong @ 1.16
JiuTian @ 1.05
MediaRing @ 0.325
Jasper @ 0.025
Amara @ 0.450
SeeHupSeng @ 0.470
FerroChina @ 1.42
HSI CW
CapLand CWs
Activities:
Bought CapLand CWs
*I did not include my warrants price because i am actively looking for opportunity to adjust my position.
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.
