Monday, April 23, 2007

A feeble Rally

I observed construction companies are currently held off and did not make much progress. Also, the top volume list today saw many penny shares do not have the same follow through buying as compared to previous weeks. Tonight's homework will be to observe the last time penny shares started to look feeble in their rally and what happens after that.

Regional indices too closed weak after a gap up open. This is not good. If US is to fumble tonight, we may experience more downside in coming days. Trading in April and May is always tricky. It is not hard to observe that most breakout fails spectacularly. Again proof of no follow through buying. Property sector, which leads us into historical highs are showing bearish divergence. Livermore says, when the leaders start to show cracks, the second stringers won't be able to support it for long. Last thursday's 100 points selloff did not kill STI and we rebounded. But this is a warning to me.

Important Events this week
Apr 24
Consumer Confidence (Apr , 2007)
Apr 24
Existing Home Sales (Mar , 2007)
Apr 25
Durable Goods Orders (Mar , 2007)
Apr 25
New Home Sales (Mar , 2007)
Apr 25
Beige Book (Mar , 2007)
Apr 26
Jobless Claims (wk4/21 , 2007)

GrowMoney Growth Fund

Noble Grp

Seksun was sold after it fails the breakout again last week. I am transfering the funds to other stock. Added more Yongnam when it broke out and also added Equation.

Ulu Counters (Speculative):

HLG was sold into rally on last Friday.

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