Market great rebound betrayed the index's flat closing. This market is really resilient. Despite Dow's losses we gain strongly. I fancy s-shares base on their performance today. The volume buy up is good as it is almost as high as when they were sold. Now the thing to look out for is, whether they can clear the last high to give me a high 5... opps... i meant higher high. Because with such high volume, it doesn't augers well if it doesn't break the last high and it will be worse if it comes down as this to me serve as a warning of distribution.
Alot of S-shares came out from the screening tonight. There are many that has ran up, but some are still pending breakout. Chinasky has an ascending triangle.... then when i check fibrechem... wah this sector majam hasn't run as yet. But since oil price is running high, i thought CAO chart looks sweet. Hongxin i too am tempted but the risk reward was not in my favour and i have to pass it up.
Pattern i observed now, intra-day weakness == buying opportunities lately.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
