Construction flexes muscle

After taking a week's break, constuctions rumble again and hitting top volume. I picked up LC Dev after the latter seem to have broke out with volume and price. However it seem to have hit resistance 0.480. I just have to try because i had been tracking this stock for weeks and been waiting to pull trigger. When the signal came, i just have to stick to my discipline. I also added a batch of HSI PW. This is for my structural short position if the market tanks down form here as this is a very attractive level to hold a short. With 2 stocks in my portfolio for now, i'm hedged. If the market proves to be resilient, i shall cut my put warrants and long more. If I am correct on the downside, i shall remove my long positions and look to short more. I believe market has arrived to what we call a pivot point.

Screening the market with XPertTrader, I saw quite a number stocks traded higher with high volume. It seems to me market is rotating through the sectors. Why else would sunvic and unionmet rock the charts? After flipping through many charts, i saw a perfect reason to head down. Many charts are trading near or at the support now turns resistance. If they can break this level successfully, i believe more upside. If they goes lower, that will be used as a reason by technical traders.

Market should be awaiting 18th Sept. I still haven't formed an opinion of what Ben will do and how market may react. Oil price hits record high and subprime still a question mark. Both are good reasons to justify a slowing or to slow down the economy. Perfect reason for market to be sluggish.


Last evening at the Stock Selection with XPertTrader, i almost cried in front of the capacity class. My heart sank when I randomly screened the market with my trading system to show how to use XPertTrader and out came C2O Holding which was alerted on 23rd Aug 2007. Why didn't i see it ? Complacency! After getting no results from the system screening for a few nights, i assumed that many stocks are still in downtrend and that it will be fruitless to do homework and hence skipped for a few nights thinking until I saw strength in the market. Gosh....

Anyway, ChartNexus Technical Analysis Course is filling up fast with 3 weeks to go! Last count, is left only 5 seats. This course doesn't just teach you a system or 1 strategy, it covers a wide spectrum of working technical analysis knowledge that will empower you to trade any market with the knowledge..... be it futures, forex or stocks. The only drawback is, participants must come with laptop as it will be practise focussed and we are practising on lastest charts.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.