I am kinda ill… yes.. ill again *sigh*. I shall therefore keep this short.
Despite HSI heading down the STI held on pretty well till DBS resumed trading and they announced a rights issue of sorts. With Temasek behind the whole thing it doesn’t seem like a bad thing but the market decided to sell off, with DBS OCBC and UOB breaking supports. So much for my bank ‘rally’. Maybe it is not time yet. Or maybe we will close the gap below.
Midas was pretty strong but did not close at the level I was hoping for. Yanlord seems to confirm the down move as I anticipated property stocks will succumb to profit taking.
So what am I looking for now. Confirmation. All 3 major indices are back into a trading range and I certainly hope the STI ugly weekly chart comes into fruition.
Today’s down move came with very light volume which I will expect till end of the year at least. As long as supports don’t break there is hope yet. But if supports continue to crack then I will be looking to close some positions.
Even I will be taking some time off but I have my trusted remisier Jay to do monitoring for me.
Stay safe for now. I will be holding my neutral stance still. Don’t binge drink folks!
I will return soon.. now I need to lie down for a tad bit…
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take care bro!
helo! thanks.. bad case of tummy problem. and i didnt even binge eat or drink… sigh. I hope i get better soon..
btw i spotted a typo error: “So what am I looking for now. Confirmation. All 3 major indices are back into a trading range and I certainly hope the STI ugly weekly chart comes into fruition.”
What i meant was i hope the ugly formation WONT come into fruition. I can only ‘hope’. I am powerless over where the market is deciding to go… haha..
STI found support at 20MA while HSI is at around its 50MA support. EXTREME light vol on the STI.. with this kind of volume especially for tomorrow’s half day I cant see any chance of a breakout either way..
is it a case of feeling bloated?
can i say that the chances of being whipsawed is very high? capitaland, noble and ocbc up and down since mon. it’s either u earn big if u tikam correctly or u lose big.
yes.. bloated. terrible. couldnt sleep..
whipsaw? hmm… not reallie whipsaw. today’s trader club, ocbc was analyzed. still range bound.. long at 4.8, short at 5.5. 70c reward, 30c risk. seems ok. but need to watch out for some stuff.
have a look at KS energy. had dinner with my remisier and it was brought up. today we added yanlord n bought some cosco too. bull flag formation. i tink when i eng maybe tomorrow i will chart… today a bit busy.
I remain neutral. cannot short or long. those who short this morning will panic. Low volume = volatile le. can U turn anytime. but I may be lowering my upside target for this rebound if any. I did some calculations, the actual bear rally doesnt seem to be occurring this season. maybe in Q3 or Q4 next year. bear rally can last up to 1 year even. very long uptrend. for now.. i guess 1912 will remain as major resistance for STI.. and i may commence short positions from there. on the downside, if it cracks 1680 time to buy put..
MERRY CHRISTMAS!
have u tried sipping freshly brewed ginger tea? may help to remove excess gas..
Merry X’mas to you and family!
thanks! Merry christmas to u and ur family too!
Yes i drank halia O too..ginger tea used to work in the past but the last couple times not so anymore.. I had to resort to medication and a warm rub of some chinese medicated oil on the tummy. Thankfully this doesnt occur often. Compared to episodes of food poisoning where i dua lao 20 times a day (no joke) i rather have the dua lao…
im glad its almost in the clear now. yay…
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