Properties counters staged a strong rally today. However not all of them has got good volume. Fundamentals are still bad without saying... but technically indeed they were attractive... attractive to short! haha Many of them broke out of resistance...but they are close to MA resistances. Then when to long? AT THE RETRACEMENT! In a bullish trend, they are called retracement, otherwise it;s called reversal... just got to be patience and keep observing. Look? who cares if you can buy at rock bottom? This is not how the game is played. I never got Cosco at below $1... i got it at $1.31 and rode it to $3++ .... I didn't get Swiber less than $1... infact i bought at $1.23 and rode it all the way to $3++ It's the direction that i am more obsessed with. For i know, once the direction is clear... it's easy to make money! Those who gave up and think they come back when the trend returns often gets in too late....and lose all the money when the trend turns against them... those who faithfully do their homework will be rewarded.
I did not add to my shorts as i observed many stocks didn't go down much. No doubt StraitsAsia went down alot from where i shorted, but nevertheless i cannot ignore the bottoming actions seen in many other charts and that of indices. Even currencies, i seen many of the major pairs seem to have broken the downtrend on the daily chart. Hence, i am sticking to only one short on StraitsAsia and then another short on HSI to bet the week will close negative. Year-end dressing this time round may dress like beggar maybe?
Another observation is sector rotation.... offshore took the runup last few weeks.. and this week many already stopped advancing.. If you look at Yangzijiang... wah the bearish divergence damn obvious... hence this round the properties sector rallies.... hmm... after the rotation... market go holland?
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.
