Ok ask me a seond time, isit painful to have missed FerroChina... YES! haha This market is really seriously going down. Solid results also no one cares anymore. The theme is like to sell sell and sell! I feel that it was really bearish when a good heavy volume buy up 1 week ago has no follow through. What we got is only an almost and equally heavy volume sell down. It fits the saying "Jack up to unload".
STI and HSI both cracked their support. I went short on HSI near closing using CFD. My view is, this week, HSI should close under 21k. There seems to be little incentive to hold up. Especially when results couldn't stir buying interest, what else can? Dow's performance has been largely ignored. If Dow's rally doesn't cheer Asia, what will happen if dow crashes? Or maybe if Dow continues to head higher, Asia will go lower?
Banks are still holding up... maybe base on rotation, they will be next? Watch those support levels man... this information may also be used to time entries on simsci as i also observed it has been pretty weak.
Now how about this is a bull trap to kill all shortists? I have my doubts on this. Like i have mentioned before, it was more obvious to see that any rally was shortlived. The most important clue was how we got sold down at resistance with high volume and then proceed to break support.
GrowMoney QuickPick
Tat hong
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