Friday, January 18, 2008
Blind no more! Finally i am able to see STI! Rebound looks to be on the cards. However, i will still be looking to short at rebounds, hence my sight is casted at 3200s thereabts. Another trading idea is to latch on to the long side at the first reaction after the rebound. I am still searching high and low for bullish divergence but ain't seeing any. HSI 24,200s stood like a rock, tested on 2 days and despite selling pressure from DJ's horror show.... this speak alot for the support.
Counters to choose form should be the ones with the most volatile movements instead of slow moving stocks as i want to take full advantage of a quick rebound. Otherwise when the rebound finish, the slow stock could have moved only a little.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.