Friday, December 12, 2008

My trading plan going forward is to ...

Finally intra-week weakness. The STI closed lower than open. It is time for the retracement to happen. However as it is Friday tomorrow, if it closed too ugly, well, the bullish rally may be over. Friday night will have alot of data coming out from the US. It may become a reason to sell down. Asia closing may provide clue. For now, i will initiate a short position first if the market is weak tomorrow. STI is hitting into 50-day resistance. We have yet cross the all important 1917 level. If the pull back is shallow, it means it's a healthy retracement. But of course we need to study the broadbase market and see are they trading at support or resistance. These are important clues. The XPertTrader rule i'm using to screen for this important clue is the volume rule i created since 2006. I used to call it the sentiment screen back in those days.

I seen a big jump in blog visitors since i returned to active sharing. Welcome back my friends! : ) I will try my best to contribute and hopefully it is helpful to you. If you have friends whom once fell in love with this blog, tell them, the owner of this blog is back. They should return and let us all grow money together!

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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.