Re looking Yanlord

Before I dig into today’s blog,  I would like to mention that I have exercised my option to get my first apartment! Hurray! I have an exam to handle in Dec and thereafter it is time to get serious with some interior designing. Loads to do! Pretty exciting though. 2010 will be a challenging year but I hope my new ‘shag pad’ would turn out just fine.

Alright. The STI gapping up this morning but closing the gap right into the close. I was pretty much expecting this, especially since many counters opened at the day’s high and traded downwards forming a black candle. Tomorrow being a Friday as well, aint usually a good day for a breakout follow through. True enough the STI closed flat.

Yanlord is still weak. Like quite a few counters, MACD is below zero. Resistance seen via downtrend line as well as MA resistances. Not forgetting the bearish head and shoulders formation is still valid and 2.20 will be very critical indeed.

I gotta look out for my long positions on guoccoleisure and Ying Li, both of which didn’t turn out to be very pretty indeed. I will employ trailing stop technique for these 2.