Tuesday, September 23, 2008

Bulls tried but failed

Isn't it scary? The wild wild swing continue after an unexpected triple digit loss in wall street. I read this selling as a dangerous sign. Reason being, it could be strong hands unloading at pop up in a typical bear market. A clear sign will be another test of this level, and the stock refuse to move up with heavy volume. This is where i will try to initiate short positions. Otherwise, i will see how the pull back is trading and look for opportunities to go long. Even SGX is getting tougher with naked shortists. I hope they leave CFDs alone... otherwise we will be like KLSE and JSX... can only long and not short.

Currently i long a S&P contract at 1220 level. If i am right, i will see 1250 soon before 1280... Synear short looks safe for now, and anyupside, i think will be capped. Despite the tainted milk scandal, ChinaMilk is still resilient. I wonder why hasn't it been a shortist target? Or isit because it is too obvious?

As for local stocks, i am still looking at marine sector to have a go.... a pity, Cosco went for a diving trip way too early... This week we will have a couple of key econ data which can move the market. It is also important to observe market's reaction to the data.

DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading.