Big swings

I skipped one night of blogging because i went to a preview talk on a trading platform. I struggled. I stared down the corridor which leads to my rooms.... bedroom is on the left and study room is on the right... i think and re-think... finally the left side of the brain said sleep! keke Anyway, i found another reason for the laziness. The lack of exercise. I still remember i always take the chance whenever i went jogging to formulise trading ideas or creative ways to use XPertTrader. I think i did blog about this......my ang mo shi fu said that, inorder to be in tip top condition for trading, healthy lifestyle is a must as it keeps your mind agile. Hence another step i am taking would be to incoporate exercising. Soon i will influence my team mates to run around empress place as well as esplanade, maybe even padang. I just love the sunset in the evening in that area. I still remember standing at one fullerton with full view of marina bay back in 2005.... i pointed to Ritz Carlton hotel and declare to my ex-gf, that one day..... just one day... i want to share my trading experience with an audience in a ballroom...... and i want to grace the stage of many auditoriums.... she just smiled and said nothing...... no wonder she is no longer my gf. haha

The seminar on 4th Aug has closed. I guess most seized the chance to grab their seats because it is a ChartNexus event. This seminar will be special because the topics will be on trading ideas for the upcoming National Day. Old timers will know, this is one of the calendar date where market behaves in a predictable manner. Lobangs aplenty!

I took my profits for Cosco Corp shorts leaving Noble shorts. The reason being, my CFD 30 days is up and i had to choose between auto roll over or i just take the profit. I choose the latter. I shall wait for higher levels or another trending stock to short. Perhaps i should pay more attention to HSI. I have the knack to index direction. Somehow to me, candlestick analysis, trendlines and one oscillator works well for me when i trade index.

Curent market is on it's toes... be very careful. It doesn't take a genius to observed that when Dow plunges more than 2%, STI lets go a small fart. When Dow rallies more than 2%, STI lets go also a small fart. My shifu says, right now, just take a view on the market and take the position. Neither the bulls nor the bears are interested to push in our market. With the 2 days wild swing, i may have to re-look at my shorts.


Swiber: a stock that XPertTrader rule picks up to go down. With Swiber heading down in such spectacular fashion, i will be looking at a test to the last support at 1.98. A lateral view will be to look at swissco.


Oceanus: A stock to watch because i like the good base before the breakout. This is where i will deploy the breakout strategy if 430 is taken out. Any pull back, i would hesistate if 380 is broken. XPertTrader 4r1g signal triggered.



Hi-P: Despite high oil price, their earnings improved. Though i didn't follow up on the story, i think i better do it soon. I tend to ignore this stock because it's industry is being squeezed by the high oil price. Looks like time to re-look this little giant. From the chart, a short-term opportunuity looks to be knocking on the door. Indicators starting to look good. Volume build up looks nice.

GrowMoney Quickpicks:
SPC

DISCLAIMER: The contents in this website are for fun reading and must not be taken as an buy or sell advice. You must do your own analysis on top of my postings. You agree that i am not responsible for your trading.

Quiet market

Indeed, this blog has lead me to know many great people and talking here online, allows me to vent my frustration and get my act right. Penning down your thoughts is always a good way to be clear to yourself, what you want. I wanted to get back to my passionate self and i wrote about it. By writting, i had forced myself to think positive and the small steps to getting back the passion. Today i dragged myself to this laptop and type away! My very first small step! I remember back in those days, even after i went Mdm Wong (My generation will understand) back at 1am, i will still flip charts... while i may be enjoying my night out, my head was thinking abt trading ideas for the next day... haha those were the days....

First of all, thanks to 4 kind souls who replied to my last post. Anonymous, just like you say, set a big target that will benefit not only me, but many others. Today i did something spectacular. (How timely) I rejected a customer. There was this uncle who had visibility challenge and because he often attended our FREE workshops and felt obliged to subscribe to XPertTrader. I attended to him and learnt about it. There he is, over 60 years old, retired, lost alot of money in the market (GemsTV, Osim, Centillion), punting is his method. I advised him not to sign the form for XPertTrader for i know it will not be useful to him since he just felt obliged. Instead i offered him a 1 on 1 training on T.A. I didn't even want him to sign up for the usual CTA course as i clearly could see he won't be able to follow the pace. This reminds me of a story, there was a young boy aged 13, the teacher asked the class to write down what will make them feel happy, many wrote going on a holiday, scoring As, receive a dream present they always wanted. But the boy's answer was different. He wrote, "I feel happy when i help others and watch them smile and say thank you to me". As corny as it sound, that boy was me. I remember telling this story to my ex-girlfriend, no wonder she is now Mrs Decipher... keke

The market today is very quiet. Well nothing to be surprised about as plenty of US econ data will be out this week. Remember, the last round of US data, nothing bad, market rally briefly and still came back down. The bull strength was limited and worse, DJ broke year low. Hence unless the data comes in damn well above expectations, i am still bear. No doubt i haven't been blogging diligently, my eyes were still on the market. In our office, each of us have a LCD screen and live prices are flickering every seconds in case we miss any big movement. For those who are interested to know what i have on this screen, HSI, Nikkei & Simsci Futures. I don't understand why we need to see Dow futures as it only determines the opening of Dow which is not meaningful unless you trade ang mo market. Then of course i will have my local stocks live streaming. Then the most important window, a messenger window to my trading buddies who taught me alot.

FerroChina failed at 38.2%. A good short will be from 1.35 to 1.40 where the falling window is. Today i waited... but the rebound never get close to it. Hence i gave it a miss. Midas, the darling of yester year seems like joining the clan of forgotten stocks soon. You go see the chart, dying slowly but surely... Even if i were to bet on rebound, this stock will surely not be on my priority list.

Currently i am still holding on to my cosco and noble shorts. My plan to continue building a short portfolio is intact. I see the current market actions as waiting for a bad news to come along to really crash it big time. There are simply no confidence in the market at all. At our Stock selection seminar, we gather more than 150 participants in the room each time. I always took sometime to "listen" to the mood of the audience. The last seminar was pretty muted. It's a you look at me, i look at you kind of market for now. Still as mixed, but i doubt the confidence level of the market.

I just want to remind everyone, in a bear market, rally ends early and selling is slow death... bear markets are also very tricky. Take good care!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Neither hungry nor foolish

As often as i used to write, trading is not only about technical analysis. Inorder to generate wealth, you need to have money management, otherwise it will be win here lose there, nothing fantastic. The other more important factor is psychology. That was my edge in the market place. Everyone can learn technical analysis and money management easily but when it comes to managing psychology, everyone will know but not practise it. This is human nature and this is why stock market is the way it is. Someone has to lose the money and the next person picks it up. Ask anyone who has been to my seminar, i have no qualms about sharing the signals and when to buy and such with no holds bar kind of presentation. But when i talk about managing of psychology, often times the interest was not there. At times i was so frustrated. I knew it is what made me trade successfully and yet i couldn't convince them to pay attention to it.

Ever since i came back from my 2 months break late last year for marital bliss, i notice my fire has died. The hunger was no longer there, and the passion if any left, was spent on coaching my peers. The story began about 4 years ago, one night, i decided enough is enough and masterminded my comeback plan in trading. Everynight i would study the market in earnest no matter how busy or how late it was. People came to know about me and my blog and visitors started pouring in. I knew i had a large following and i am honoured that i could help many people who like me, lost and wants to make back all the money and thus i made it a point to share information here on this blog. I had 3 short-term goals then. I needed money for my wedding and my love nest. I want to get out of my IT job and work in a investment related profession. And i want to make back the money lost! With these 3 burning missions on my mind, everything else became secondary. Focus + desire is what drives me back in those days. Two targets were reached by 2006, i made back the money lost all these years and now has sufficient money for my wedding and love nest. By 2007 July, i quited my job and joined ChartNexus. Dec'07, i came back from my honeymoon and began my new life.

Yes, new life... alot of things about me changed. I couldn't got back my passion for trading, my desire and focus was no longer there. Charting became a chore to me and teaching T.A bores me. What is happening to me! I slipped into a depression that i told no one about. I began to wake up in the wee hours and unable to fall asleep. Work suffers as my creative juice dries up, i stopped exercising and couldn't find interest in anything not even trading. Day and night just passed. After a month, i managed to find out the reason...... i was so focussed on my 3 goals all these years that, after i achieved them, suddenly i had nothing to look forward to.

Listening to Steve job's speech about staying foolish and hungry, i realise i had indeed slipped into a complacent mood. After achieving the 3 goals, i should be setting my sights on greater things to come. But instead, i felt lost and didn't know what's next. Some would ask, "wouldn't you want to make millions?" Of course i want! But i know it is not by saying, it will happen. I need to be thinking abt the little steps to getting there and making sure each step is executed to perfection. Thinking abt the million is what i call focussing on the wrong stuff. Yes it is a goal, it is a motivation. But the focus should be on the small steps. My 3 goals were achieved because i shut my ears and mind to pessimism and focus on the small steps. Incase you wonder what those small steps were? It is the daily charting and blogging. I scrutinise each trade and learn more things when i win or lose and then record down on this website so that i remember. Even when i put on a trade, i do not fret abt the profits or losses each day. My focus is whether the market is going to where my money is. Especially in trading, if you keep thinking about how much u gonna make in this trade or lose in a certain position, your emotions will be affected and that is how silly trades are done.

Goals and desire are such powerful mind games, we ought to make better use.

This shall be my key reversal day. I can feel that i am ready to set new goals and achieved them. I want to be the old decipher, ever so passion abt trading. If destiny wants me to fall, then so be it. I rather fail spectacularly than lead a mediocre life. huat arh!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

JSX: Aneka Tambang (ANTM)

The bluelines are support lines where it is better to fish there. Target of the D-triangle is shown. However, because it is bigger than 2 months, it is a very loose pattern and there is a possibility that we will not see the target. 1810 is another significant level to watch. Should there be any rebound, it will be kept at the red line. The gap down will be the first resistance as we look forward to a test of this falling window. On the weekly chart, a doji has formed signifying the bears are taking a break... watch for a white candle with strong volume by next friday as a hint of reversal maybe.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

The rebound everyone is waiting for

Over the last few weeks, it has been really a test of patience as i watched how the market ding dong without any significant upside or downside. I had a choice to trade intra-day, but alas i decided that i will stick to my plans of building a short portfolio. The lacklustre behaviour of the market send boredom to my life. All these years i have been very active in the market and enjoying every moment. Last few weeks has been extremely bored. Even as of today, i wouldn't say it is a good time to load up. I couldn't see any evidence of good bullish or bearish tinge. Recent actions has been, long also die, short also die. While there are small swings to profit from, but i been there before. The year was 2004... then we were trading 3 steps down, 2 steps up. What happen to me was, i made profits from the small swings... pocketing 2 to 4 cents one way. However, it drained my account. How did that happen? Because everytime i lose, i got hit 3 to 5 cts in addition of the brokerage. This is surely a lose lose game. Also, trading this way tend to miss the multi-baggers.

Actions hots up last Friday when we went down ferociously but support still holds. Now this is what caught my attention. Next thing i am watching out for will be how the market trades at the resistance. Currently my opinion is market may be forming a lower high. I just have to sit out the rebound and then add to my shorts. Yes i am still holding to my shorts just as i mentioned, i am interested in a short portfolio.

Now if market is to be bullish, i would see myself cutting loss on my shorts as they would have broken the lower highs and forming a support. That is where i will try to long.



DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

A quick look at STI

It is notable that despite Dow Jones Index recording a new low for 2008, STI is still trading above the 7 month low. The gap from 2832 to 2878 may act as a technical support for the near term and we observed that the RSI is showing a bullish divergence. There may be overhead resistance from the 20-day moving average.



DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Asia catching up with Dow

After 3 weeks of inactivity, finally the market hots up. Stocks started the brief rebound last week and today it all came into an abrupt end. I am only too glad that the market tanked today otherwise it is really very difficult to understand it. At least now i know the simple rules of the market still works and i am able to get the direction right. Despite all these talk about de-couple from US bla bla bla, today Asia market decided to finally cave in and joined the US in the south pole. As i am writting this, Dow has broken the 11k psychological support. Next major support will be at 10,700 thereabouts. Asia has a long way to catch up since the Mar'08 low is still intact. HSI support is targetted at 20,800 and STI? 2743 should go first.

How do we explain the selling in S-shares? simple, all you need to do is understand why does it go up in such high volume? One of my traing principle, if the stock has higher than usual volume and the price doesn't go higher, it has to come down. period.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Asia De-coupled with US

While dow broke to new low for 2008, HSI, Nikkei & STI are still staying above the Mar'08 low. What is happening here? Nan dao, we are really de-coupled with Dow? The super-power is no longer Dow but China? Perhaps history is in the making for all of us to witness how China takes over as super power.

Friday's strong closing came after days where market teased to the downside. I was definitely looking at a break to the downside, however market holds steady. The fact that it can holds steady despite Dow keeps going lower is a cause of concern for my shorts. I just checked the Dow's chart, still as ugly only thing is again it is in the state of oversold a rebound is likely. Even on STI, i wouldn't immediately call it the reversal. There are methods to identify reversal and the born of an uptrend and i will rather wait for these tell tale signs.

The rebound on Friday brought many China stocks near their resistance. I will be waiting to see, what to see? If any of those China shares that went up with high volume start to show weakness. Because if you were to look at most of their charts, it is easy to see those strong volume rally fizzles out and give us a lower low.


It is interesting to note that STI, Nikkei & HSI have not broken the Mar'08 low while Dow Jones has broken that low and now threatening to break lower. The ADX shows that the current downtrend in STI is losing strength as we can see the ADX line lacklustrely turning down along with -DI. Further observation of trend weakness can be seen from the positive divergence developed in the MacD Histogram. The probability of a rebound is strong and we can expect resistance from the price gap at 3084 level.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Grossly oversold

Delightful is the word i would use to describe how i feel when the market came down whole week long. Recalling how i was wrong about market moving higher in May, i made a decision to square off all my long positions to re-analyse the direction. Then i believed the market is heading down and from the way i read the market, i had a feeling 3000 and 12000 will not hold. Simply put it, if these levels hold, i would square off my shorts or should they break, i can look to short. My plan is to develop an opinion and trade in that direction while looking out for evidence that my opinion is wrong. This method is much better than "I see market up, i long, i see market red, i short" a sure way to lose money consistently. One of the question frequently asked was, when can i short? My answer is very simple, two levels we must know. Support and Resistance. Resisted at resistance or break support and we look to short. This is the only way you have the highest probability in your favour. Anything in between is best to avoid and wait patiently for the best risk/reward trade to come along. So to answer the question, yes, watch out for those support levels and pay attention to any positive news.

Technically, a rebound may happen. Watch out for sideway consolidations which may lead to another fall. The best is of course if we can have a decent rebound. This should be an excellent chance to go short. The pattern last week was obvious, "sell on strength".

Another sign that i have not witnessed during the bull run was how the crowd favourites were being sold mercilessly. Hongxin, Cosco, YZJ, Synear, Jiutian one by one these giants falling in grace.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Dow broke March's low

Dow has broke the psychological support level which is the low achieved in March. The ADX is screaming at a strong downtrend. However with such an extreme movement on this indicator, we may see light at the end of the tunnel. This may be just a slight rebound. Especially with RSI in oversold. I will be watching for major support levels in most stocks. Once they crack, "mai tu liao".



DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Banking stocks & Straits Asia

After performing my usual 4 steps screening with XPertTrader, banking stocks and Straits Asia appeared to look interesting technically. For banking stocks, they will have a short term rally should Ben unexpectedly raise the interest rate. From the charts, DBS and OCBC looks like reversing. For Straits Asia, I see a possible chance to do counter-trend trading here. With it's well known volatility, this short-term opportunity should be worth taking a look.

Golden Agri together with the rest of the agriculture stocks got hammered today. This furthers reinforced my belief that i should not be riding on trends as there is non to speak of in this current market. It is better to take profit at resistance level or support level if short. Just checked the news and saw that oil slips $4 on increase in inventory. Tsk tsk... news must have leaked out during Asia trading hours, otherwise why did these stocks lao sai in anticipations of the news? Price moves ahead of news my friends....

STI together with Dow is now trading very very close to 2008's low. Should we break that low, I suspect the bulls will throw in the white towel and bears will be in charge for quite some time. With earning season coming up, look out for nasty surprise.

If you are feeling confuse over the current market, there is only one way to stay focussed and composed. Let me share a few tricks:

a) Take smaller position than usual to minimise risk.
b) Form an opinion on the stock market and trade your opinion. (XP subscribers, we will be sharing on market directions at this coming Momentum session)
c) Be patient for the next trade instead of rushing into one.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Awaiting Big Ben

Today's actions surprised me. Again the market looks resilient. This was observed last week as well as many stocks hold steady after the plunge in May'08. Look around, and you will notice alot of stocks are still not trading below the March's low. I too am tempted to go long to take advantage of this rebound. However i choose to do otherwise. With my trendlines and indicators in place, i realise this may not be the best time to go long as yet. No doubt we are near support levels, but experience tells me, there is a time to fish near support, there is also a time even support can breaks easily. The trading principle behind this is, in a bull market, support levels will hold and resistance levels will crack. The opposite is true for the bear market. I paused.... closed my eyes as i sit comfortably with soft music playing in the background in my war room... what do we observe in the market? Resistance are holding and support level has cracked. Some stocks got resisted at 200-day MA as well. With this evidence being so obvious, it's no wonder i feel uncomfortable going long. Commodities is the only sector that is rightly going against the bear tide. Due to it's volatility, i opted to give it a miss despite seeing the sector moved. 80% of the stocks are in trouble and i reckoned my odds are better if i can identify the sector in trouble and go short on it. Currently there are not many trending stocks in the market. Infact, any trendtrading strategy would probably not work in the current market condition. Short-term trading and chart formations and basic support and resistance will work very well in the current market. One of the reasons for not going long on commodity stocks is due to the volatile oil. Hearsay Saudi and the rest of the world are trying to bring down the oil price. Hence i won't be surprise if they are in favour today and then fall flat next day.

STI currently swee swee nice nice sitting on the trendline support with today's closing. MFI is also pretty close to a rebound. For tonight, i will be using my volume rule to screen the market to pick up any stocks with unusual volume. The reason i like this XPertTrader rule is because this simple scan allows me to understand what is going on in the stock market. From the results, i will be able to sniff out any unnoticed opportunities.

Anyway, currently i am still trying to decipher what the market anticipates of Ben's actions. Cutting rate is out of the question. The answer i would like to know is how market will react to a rate increase or hold steady the rate. Dow,

Let us also not forget this is the last week of June and we may expect to see window dressing in some index stocks.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

The bears came knocking again

STI hangs precautiously near 2 support namely the trendline and the gap support. With Dow overnight strong closing to the south pole. Monday morning should see pressure. A quick glimpse of the world indices revealed nothing but weakness. Perhaps they are anticipanting Ben to talk about inflation and worse still, to raise rate? I saw a report on Sunday times reporting funds pulling out of this region. A replica of what i saw in 2001. I have been waiting for Dow to give me a tua lao sai to the south, but it never came and i had to cover my capland on the rebound. Now it's gone to where i had anticipated, but i have got no short position. Haiz... got to find a stock from XPertTrader to short this coming week.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Third time lucky?

XPertTrader picks up Golden Agri as it tested 200-day MA as a support. Couple this up with the strong rally by IndoAgri (broke downtrend resistance line) and Wilmar, attractive isn't it?

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Money in the pocket is mine

My last observation on the market tells me we may not see lower. As such, i promptly took my profits off capland shorts. There wasn't any fear in the market to add fuel to the fire which is shorting in this case. With a falling window yet to be closed, i reckon the rebound may take me back to at least $6. My options were clear, do i want to keep the profits in the pocket and declare it is my money? Or do i want to leave it on the table to ride out the rebound? Doesn't it makes more sense for me to take my profit and then re-look to short? I choose the latter. UN wants Saudi to increase output. There are risks to the upside. Especially Dow's sterling performance on Friday due to tame reading on inflation. Also, many of the oscillators were oversold..indicating a rebound may be coming.

Another reason for me to take my profit is the loss suffered last month where i went full long at the wrong time. Slowly but surely, i will accumulate my profits.

STI has a big gap from 3146 to 3085 to fill. Also, let us not forget the earning season will kick off in July. Also watch the last week of June for the fund dressing. US side, tomorrow night will have econs data again. PPI.

XPertTrader Screening
Banyan Tree
Wilmar
Celestial (Bullish harami) + 50MA support The only thing i don't like is, S-shares may not be in play
Ezra


DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Dow rebounds to no avail

Even a brief rebound by Dow couldn't prevent our market going down. HSI ended spectacularly lower. Our bourse also faced a late sell off as many stocks finished near their lows. This time round i'm blissfully on short as i stared at how weak the market was. Capland simply went "holland" and closed below the $6 mark. I decided to cut my manhattan resource as i see weakness from the weekly chart. I certainly doesn't want a eat pig pay dog situation here. How unfair can it be? Straits asia goes green and my manhattan goes down... both are coal related... #@$@#$!@#%


Capitaland: Price over-extends itself and we are now trading outside the uptrend channel. MFI reading shows that money has been flowing out of capland since Apr. Something for shortist to watchout for, there is a slight bullish divergence on Capland.

SIA has finally broken out of it's trading range. The high oil price is without a doubt bad news for it.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Slow death?

The market plunged as expected and we saw many support levels cracked. Especially S-shares, last 2 weeks saw them testing their support levels and looked firm. It may have induced alot of investors in. Genting and Golden surely have trapped many. With these supports giving way, more downside to come. However, the volume was nothing much to shout about. With my volume screening rule, it reveals that many of these support levels cracked but not many are with heavy volume signifying lesser participation. Unlike resistance, support broken with light volume doesn't mean it won't fall down further. It is like an avalanche, as it falls, more and more players will feel the heat and one by one they start to sell creating a snowball effect. This is where we see the price keeps dropping on light volume....dying a slow death. Rather, if we see high volume sell off, then the market has a chance to recover faster.

STI is trading too close to 3000 for comfort. Should we break this psychological level, there will be talks again about seeing STI at 2700.

Due to the gap downs, i find the current risk reward not good to add to my shorts. But those stocks hanging near their 20/50 day low will be shortists target. XPertTrader users can use this rule to screen for these stocks.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Black Monday

With Dow plunging -394 on Friday, it's hard for STI not to follow suit. The strength on Thursday night evaporated after a higher than expected unemployment rate hits Wall Street. It's going to be a very interesting Monday for me. Friday night as i was watching CNBC with great delight. Why? Because, with such a heavy plunge on Dow, my short on capland is almost certain to be profitable. More interestingly, all the coal stocks in US were up! I too had manhattan resources. Will it be double bliss for me?

Last week i had to cut my HSICW. My bet on a hsi rebound did not materialise and i had to cut my position at a loss. I was glad i stuck to my plans and exited when my stop loss was triggered. Otherwise tomorrow, that small loss will balloon into a big loss! Dow at most goes down a few more days as the oscillators are already in oversold. I am anticipating a candlestick reversal pattern for easy decision making.

European Championship got into the way this weekend. Market participation level may drop. June will be a good time to build a good base to prepare for the earning season in July.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Singtel to breakout to downside?

Singtel: Indicators suggesting a breakout to downside possible. Price resisted at 20DMA, sell signal from TT2 (CTA course short strategy). A quick check with GMMA which is a trend indicator shows that indeed we may enter into a downtrend. $3.60 is the support to watch.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

Market under seige

Nikkei, HSI and SG came under fire after the weak closing on Dow. Will we see March's low? The only index to save us will be HSI, it has the ability and a mind of its own to lead the S-shares. Look out for a late afternoon reversal before our market sucummb to european pressure at 4pm.


Capland, along with many property counters came down. More interestingly, a descending triangle breakout just before lunchtime. Possible target of $5.80.



Dow: A temporary bounce off the previous low and we look towards the low 12,000s should this level give way. I am looking at a possible line(blue) of least resistance to the downside.


DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.