Tuesday, April 03, 2007

STI Rising Wedge Negated

We broke out of STI's rising wedge formation and it will be good if we can close above it by Friday. We are now very near it's apex and this formation should be negated. Market direction currently points up, pretty inline with global markets.

Never argue with the market. I will never forget this important philosophy in trading. When I was wrong twice in March about being bearish. I wasted no time in dumping the PWs and went long. Loads of philosophies in trading are very useful and somehow, they are already well drilled into me after so many years. Gosh, time really flies, getting older and older, soon no more late twenties! cham ah! hahaha

I fancy the charts of UTAC, very close to it's 20 days' low, pretty good risk reward to the upside.

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Today bought UnionMet after I think it is a normal pull back after a breakout.

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