Broad market showed weakness after lunch and many finishes off their highs. Now this trading pattern is very different from how we traded from 2006 through to 2007. Infact the last 3 weeks, market seems to be hitting invisible wall but yet unable to plunge. Screening through the market, there are still some individual stocks who showed strength. A quick check on STI saw that the RSI and 20SMA is supported and just yesterday we rebounded from that level. However there is a slight negative divergence on the weekly chart. So long daily chart holds, this divergence should be able to negate. Although market was down today... 2 of my stocks rallied. So long my stocks stayed up, market can swing all it wants! :D haha
Something about JiutTian, they are going to issue the warrants with strike price at 80cts. With current market price trading at low 60s, this warrant will only have time value with almost no premium since it's so far out of the money. I personally think the risk/reward favours. Well it all depends how much does the warrants trade. Furthermore, it looks to me a chart base is forming. My favourite characteristics are there.
Tonight, I'm going to share with you my own set of XPertTrader screening rules. These are the stocks i will study in more details tonight.
GrowMoney Quickpicks
1 AdvSCT 18 Oct 2007
2 China Hong 18 Oct 2007
3 Datapulse 18 Oct 2007
4 Epure 18 Oct 2007
5 Fung Choi 18 Oct 2007
6 Pan Hong 18 Oct 2007
7 SembMar 18 Oct 2007
8 SunVic 18 Oct 2007
9 Superbowl 18 Oct 2007
10 Tat Hong 18 Oct 2007
11 TianjinZUS$ 18 Oct 2007
12 UOB-KayH 18 Oct 2007
Get your own weapon in the market today! Feel the power of empowerment! Get XPertTrader today!
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
