Last Friday's closing is a show of strength as we see broadbased buying. Lian Beng closed significantly higher and many of the construction plays came back roaring. I too observed buying interest across the board. Construction and oil & gas plays has been quiet for nearly 2 weeks after they came out of the rut strongest. Banks and Properties followed after rate cut. Then we saw baltic sensitive stocks STX and NOL rock the charts. Mid and small caps went sleeping. One by one, punters favourite came alive and often times it was shortlived. Banjoo, Jade...C2O, Atlantac... It made me very tempted to hunt for the next probable old flame and punt waiting for chng kay to push up.
I saw many stocks start to turn in my trading system. Good sign. I'm using a trend system and hence if i continue to see those signals coming up and those stocks keep going higher, it only means the market is trending higher. If I see those stocks with signals stop short in a trading range, i will know market is probably not going anywhere soon. I shall then do swing trading and not ride a trendless market.
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Quiz: What does ChinaTranscom, Sunvic, UnionMet has in common?
Ans: Cessation of substantial shareholder
GrowMoney Growth Fund
HLH
Jasper
LC Dev
Adv Hldg
Ausgrp
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
