After a good run, market began to digest the recent gains. This is good for a sustainable run. I am seeing major indices sitting nicely on MA support and this is where the risk/reward is good to trade. I also notice during this selling, alot of price are still trading above support. In a bull market, support will hold and this is what i am seeing. Until these support levels start to crack, i am biased to the upside.
A couple of stocks we should not miss. Singtel, Sihuan, ISDN. In a volatile market, these 3 stocks have predictable movement.
Those interested to learn Fibonacci retracement, don't forget to join me and my team of trainers at SGX auditorium this Thursday evening, 15 May 2008, 7pm to 9pm. Make sure you grab your trading buddy along. After the seminar, dinner will be served and this is where we can talk about market as we drink and eat along.
Alot of people have wrote to me or spoken to me in private asking why am i not updating the blog regularly. For those who have followed me from 2005 will know. : ) This is a live trading journal. If I am not looking to trade, i will not post. The risk last 2 weeks were higher than reward and thus i opt to stand aside while monitoring the market sentiment daily. As soon as i smell anything unusual, that is worth my time to write and share with the readers. Otherwise, i won't be giving you daily updates where you can read all over the internet. What i want to share is my experience and market thoughts in view of helping beginners to understand this game better.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
