Banks - This is where DBS flash the first warning sign... OCBC climbing on thin volume and technically it won't last. UOB's bearish divergence is so obvious that i think only the blind would miss it. Now my choice is, do i still believe in this rally and going for the next higher low to long? Or should i turn short and bet that, all this bullishness is rubbish? Actually my heart favour the latter. But better to wait for technical confirmation. Right now, the banking sector has been reporting good result over in US... WFC and GS both reported better than expected result. GS even want to return the TARP money... i think they don't want their fat bonuses to be affected... keke I am still long on MS... it should be reporting result soon... but i'm betting JP Morgan and CITI result will spur another rally.
I received ChartNexus signals for Noble and Wilmar.. this came after i noticed they have not been moving higher unlike indoagri and golden... Olam? It is now very near to resistance... unlike DBS which i saw heavy selling at resistance something i consider technically weak, Olam's volume may just lead to a natural retracement. A reminder to myself... this sector lead the rebound last March as well.
Property still looking very strong... despite warning in the Sunday Times, seems like the sentiment is getting the better of investors. I shall exercise patience here for retracement. It's very easy to be tempted for a quickie... but i shall ignore.. 路边的野花不要采。
RafflesEdu: The sexy shoulder i cannot resist... I like the volume and the strength showed on the indicators. I went long here.
I am still waiting for HSI... the intra-day weakness never came because China announces possible stimulus plan once again. It will be interesting to see how 15.7k trades.
A bad retail sales number came in and look at Dow?? Shaking off bad news again... Let's see tomorrow's closing ... best is up above 8.1k! Burn those bears!!
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.
