Thursday, January 01, 2009

Offshore, Props & Banks

Orite.. 2008 is over! Get ready for 2009! First of all, tomorrow my eyes will be on props, banks and offshore! These are the 3 sectors that will keep me occupied for the first few trading sessions. The stuffs i am observing is whether Offshore will break the last high, banks and props are forming a base? Ok, i'm not saying the rest of the sectors won't move... what i'm pretty confident is, if the 3 sectors moved, it means the market is poised to head higher and thus other sectors may be dagged along.

Hang Seng's A-triangle is looking more and more potential... however i still feel tomorrow's session will be another thin session since traders may take the long weekend.. Nevertheless, it's better we watch it incase it runs away.

After nearly 2 weeks of thin trades, we are ready to burst into a direction... To benefit from this, i would be looking at index stocks instead of mid cap. The reason is simple, index is the one being dressed. I remember how i used to curse and swear when the whole market is green and my stocks are not moving! hahaha Wrong stocks ma, how to make money leh! However if i am long stocks, i will be SUPER EXTRA NIMBLE. This is because if you look at the weekly charts, many are near their resistance offered by the BB centerline...

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.