US futures lead global indices into a sudden rush as we close higher at noon. This is ahead of ben's speech tonight. Judging from the buying, it seems like he may be annoucing something positive. But then again, it is never so easy. This week's actions has seen mostly buying interest, it makes the last few weeks of selling so forgettable. Over the past 2 weeks, I have managed 3 swing trades on STI and profited from the short side. I would have loved to sit on the put warrants, however, when trading the downside, i always remember this: Price when going down should be fast and furious. This is because of the panic and fear factor driving the price south in great speed. Hence when the market met with resiliency, I took my profits and wait to pounce again. I was very tempted to go long as the broad market seems to be having a field day. However, I never forget how easy it is to give profits back to the market and opted to stay out for now.
Screening on my XPertTrader rule, I found 2 sectors looks to have turned around base on weekly chart. If they finish strongly, i may pick up 1 stock. You may want to check out a list of stocks i presented to fellow XPertTraders at workshop here >>> http://www.chartnexus.com/forum/viewtopic.php?t=219
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
