With Dow plunging -394 on Friday, it's hard for STI not to follow suit. The strength on Thursday night evaporated after a higher than expected unemployment rate hits Wall Street. It's going to be a very interesting Monday for me. Friday night as i was watching CNBC with great delight. Why? Because, with such a heavy plunge on Dow, my short on capland is almost certain to be profitable. More interestingly, all the coal stocks in US were up! I too had manhattan resources. Will it be double bliss for me?
Last week i had to cut my HSICW. My bet on a hsi rebound did not materialise and i had to cut my position at a loss. I was glad i stuck to my plans and exited when my stop loss was triggered. Otherwise tomorrow, that small loss will balloon into a big loss! Dow at most goes down a few more days as the oscillators are already in oversold. I am anticipating a candlestick reversal pattern for easy decision making.
European Championship got into the way this weekend. Market participation level may drop. June will be a good time to build a good base to prepare for the earning season in July.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
