Day 2 of pull back

This is the plunge i had so much wanted to see since last week... it never came.. instead... it came right after i covered my shorts on STI. Truth be told, i do feel "cake sim" that i could have minimised the loss if i covered today. But is it possible? I did what i was most comfortable with last week... it truly looks like we are ready to burst through 1800 pts. I was also wrong about no catalyst that could plunge the stock market... out of no where JP Morgan and BAC said March was a tough month... despite just weeks ago said first two months of the year was good... crap? Add to that, Obama administration may ask the two of the automobile to go bankrupt.... the rescue fund is less than 200B now... not sure if they will ask for more... How to anticpate these news? But i will still be looking for the next higher low. The pullback today is pretty light in volume... it will be worse if the selldown is with heavy volume.


CRCT: Stocks hit 200-day MA, Stochastic overbought... bearish dark cloud cover.. entry price triggered... i went short early in the morning. Most of the stocks have reversal patterns on their chart following Friday's closing. Market opened with weakness and key component stocks tumbled. It looks like this could be the pull back everyone is wary of.


KepCorp: With the profit from CRCT, i shorted Kepcorp near closing.. Pretty bad price to get it.. but i just can't resist the temptation because it failed at the resistance once again. The plunge in crude oil fueled my interest in KepCorp.. If this is really the window dressing that everyone is talking about, then today may be the day where the market undress! Props and banks ran too fast, i thought it will be too risky to latch on to them. But it is important to monitor these stocks as they lead the market i noticed.


HSI: After a hardworking weekend, i studied HSI carefully... I didn't like the resistances overhead. I still carry a see first attitude, because in recent times, Asia react opposite of Dow. But with Nikkei extremely weak, I covered my longs at a loss and once again turned short on HSI. Technically this chart looks overbought... pull back is imminent.. if it rebounds here back above 14k... i need to take a break from trading HSI.

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.