Market Directions

Tonight I studied the possibility of where the market can find support. This is because after the Shanghai Market corrections, HSI remains vulnerable and we saw US side under going the same corrections. Like I always said, when big brothers overseas sneezes, STI won't stay up for long. Hence I will be watching closely these support levels and selling/buying strength. It should be noted leaders of the market remained weak and we have been going up leaded by second class market citizens. Classic setup of a corrections by theory. Following are charts of 3 regional markets where I participated in.

I recall my article on May 22nd, weakness was already seen and felt. My strategy was not to be agressive in buying. My anticipations was a sideway market. Hence I didn't trade much and you seldom see me post articles. While I think we should have corrections, we do not need to tank big time. Market can always trade sideways to wash out weak holders and squeeze contra players.

As I am going for reservist next 2 weeks, I am left with 2 days to decide what should I do with my positions. By leaving it on the table and not able to follow the market for 2 weeks is high risk. By taking money off the table while i'm gone, i may risk some more upside, but at least money is in my pocket. Otherwise, I can insured myself with PW.

Other than preparing for reservist (Been going to E-Mart to do shopping.....uniforms getting smaller or rather, i grew fatter! hahaha) and i'm calling time out to my career and going to do something different. Watch out for my announcement! Finally, those who went through this before will definitely understand my pain.... RENOVATIONS!! Gosh I just hate to manage the budget and the works... as a trader, i always avoid nonsense and just focus on a buy or sell clear cut decision making process. But when it comes to RENOVATIONS! Gosh!!! Very troublesome!! How i wish all these can quickly settle and thus freeing myself for trading. Last but not least, am coaching my other half to trade options... I feel happy that she can manage by herself now!!! Just need to beef up her know how on market directions, psychology and trading strategies. The most amazing thing i notice is, all she does is follow my simple rules (4 red 1 green, 4 green 1 red) and viola! She doesn't even know alot about market. This is definitely food for thoughts for those of us who over analysed....

Tomorrow will be edgy...those with weak heart may want to go golfing range and not look at the reactions to avoid selling into panic.


Straits Times Index



HangSeng Index


Dow Jones

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.