Intraday look – 10th Sept 2009

Hey folks. Just cleaned up my positions as I am going on vacation a little later. The STI closing in at 2700 as I type. Very nice and bullish. You will remember that when I said the STI formed a higher low, there is a good chance of it hitting a higher high. I may not be in town to see that happen and decidd to close my STI long positions anyway. Don’t wanna think bout these too much while on vacation.

Wing Tai had a magnificant breakout. Not in it due to vacations.

Cosco as you can see, a nice symmetric triangle breakout. The contention Jay and I have is, has cosco broken out yet? We are looking for a follow through and it must close 1.32 or higher. The lack of volume and interest is a tad worrying but let’s see price action’s behavior. Resistance still at 1.32 and 1.36 for now.

The STI favors t he 2003 scenario for now. A consolidation period before a breakout. Momentum still relatively strong. We will get confirmation by the end of this month after window dressing.

Have a good couple weeks for now!