Thursday, January 31, 2008

Market drifts lower

We did not break 3000 support emphatically but surely the drift is also a cause for concern. With many market participants smart enough to stay clear of the market due to the volatile market, there was no good follow through buying in the market. Ever since the 3 days of rally last week, we have been drifting lower and lower since the week began. My anticipation of an up week seems remote. Ah Ben did me a favour by cutting the interest rate by 50 basis points and yet the market did not rally. The wisemen said, "If a good news doesn't spark off a rally, then nothing possibly will. " I'm long on 2 stocks and I have to be more cautious. My options include throwing out my line before the weekend and enjoy Chinese New Year.

3168 could be the high of this rebound and we could be heading towards 2746. Break that, we shall see more downside. If that level holds and we rebound, we could be forming a "W" bottom. This should be what many would anticipate.

Psychologically, I'm feeling bored by the market actions. It is very easy to tell my course participants to have patience and be discipline. Truth be told, this is easier said than done. I hate seeing my equity remain stagnant. There are times we have to stay sidelined and not losing unneccessary. There are 2 ways to overcome this itchiness. Firstly, close your watchlist and focus on your job. Secondly, which is a more expensive way, go for a holiday! Either way, just make sure you check the end of day data to retain the feel for the market.

4g1r signals:
China Hx
China XLX
China Milk
Chartered
SGX

If i wake up, DJ close ugly, i shall use my CFD. If DJ shows resilience, my longs should be making money.


STI: The last candlestick formed was a graveyard doji and near the 50% Fibo support. We are still facing immediate and mid-term downtrend. The gap was closed and with a graveyard doji, we still have a chance this is the immediate bottom.

随着海峡的回弹,我们经历了四日来的不断套利和卖家的压力。原本有望在此周感受到市场牛气冲天,如今却一场欢喜一场空。非波纳斯分析指出,指数很有可能在50%的支曾。加上日本腊竹法,今天毕市后,给于我们一个“一指定江山“的形状。这有望意未着海峡已见底,攻牛大哥拿下3200点的柱力可说是视目以待了。大家可不要忘记,鼠年快要来临。市场有望回弹。鼠年一过,记得好好保重。

最重要的还是得看华尔街今晚和明晚的走势。必南齐减息但市场没所表示,这令我坐立不安。因为如果强心针没作用,恐怕市场便难逃结束。

错字连遍,尽请愿谅。

帝塞富上

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