SPC: While most of the stocks already hit 100dma and turned down, this is a laggard. It has not met resistance at 100DMA and looked destined to fall. Conflicting signal here with bollinger breakout vs 100dma as resistance. This happens so often in analysis. So which one do we listen to? We should really use risk/reward to decide if we should trade at current level. Today it closed with a bearish engulfing. It needs no confirmation.
Commodities can buy? I have attached the two charts on Olam and noble, both are commodities play. Both are showing rising wedge pattern. To trade rising wedge, i will wait patiently for it to restest the upper line. That will be a good MTL. This is because if the pattern is true, that is where it offers the best risk reward. Of course seeing a CS reversal is bonus. OTherwise a break of the lower line with a bearish market breadth is also a great opportunity.
UOL - Latest discovery. Product of TT1-short! With capitaland needing to raise cash, they may say all they want, i only trust my charts. Market is full of lies and illusions. We choose what we want to see.
A reminder of the China Stimulus plan. This could be the reason why HSI was so resilient. This is despite Nikkei's weakness at closing. I reckon many are pinning hopes on the China stimulus plan. A friend reminded me, the last round, governments around the globe too injected stimulus package in different sizes... did it work? Of course we proceed to see lower prices. This bear market escaped even the elitest in the finance world. Should i even bother to believe what i read anymore? haha
Currently i'm still staying with my HSI short and NOL short. Thankfully NOL threatens to the downside today. But it's still eat pig pay dog for me since HSI rebounded to my shorting level. At 10,300 points, market already priced in the stimulus package? Sell on news on the cards? How about bradley turn date? We shall see...
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