Time To Huat! » CharlesMing

STI – 2880

CharlesMing — Mon, 10 May 2010 10:56:12 +0000

Great close, in-line with rallies (short covering and bargain hunting) across Asia and Europe with the news of the bailout from Greece (but it isn’t cast in stone. Imagine the plunge that could occur if it fails?). 2880 is interesting. To short, to wait, or to go long?

I am personally loooking at the gap towards 2890-2900 region to be closed. If it can rally till 2920, I will watch if there is any indication to go short. Else I will wait for confirmation of an uptrend should the index trend higher. Stay tuned and watch for Jay’s posting, coming up shortly.

Web of debt?

CharlesMing — Wed, 05 May 2010 15:28:12 +0000

Djia

CharlesMing — Tue, 04 May 2010 13:49:21 +0000

I expect djia to go down tonight simply cause it retested the lower high level during the rebound last night. A mini symmetric triangle purely based on this but my readings don’t call for a symmetric triangle formation. Watch for the previous lows to be retested and possibly broken.

On the sti I have done a short at 2980. My target is at 2880 where I will close my short and wait for a rebound before initializing a new short possibly. Keep 2880 in sight for now.

- typed on my iPhone -

Lower high on djia

CharlesMing — Sat, 01 May 2010 05:48:53 +0000

Did anyone notice the very obvious lower high?

The weekend is here!

CharlesMing — Fri, 23 Apr 2010 14:37:52 +0000

Good day folks. As you may have noticed, Jay has been doing posts intraday as and when there might be an interesting counter to go long or short. As a Trading Rep, he is allowed to post entry/exit/cut loss points. I will advice (and this is important) that under no circumstance should his posts be used as an indicative buy or sell call. Follow at your own risk. The posts are meant for reading and analysis. You, and only you, make that final call.

That said, the market has been going sideways ever since the 3000 failed to hold. Many people have been shouting bears, while there are a few who are bullish.

My own personal take? A retest of 3000 is not good enough and may suggest a lower high formed. It has to at least retest the previous high of around 3040 which may suggest a breakout. Failure to hold the current level could imply a deep sweep down towards 2880 and potentially towards the 2700s. Will the ’sell in may and go away’ saying come true? Will Q3 bring a huge big sweep down? No one knows for sure. Let the market tell us, instead of second guessing. If a stock is bear, look for a rebound and a bearish reversal candle at resistance to go short (potentially). Going long on uptrending stocks which bounce off support with a nice bullish candle.

My strategy? To not enter aggresively either way. I entered a position on IndoAgri today. We’ll see how this goes. I have zero short positions at the moment but may be forced to do a short on Capitaland as a hedge if 3.90 does not hold.

I have been very busy with work and my new place which is undergoing renovations. I target to move in end of May/early June and while it has been an exhausting process, seeing the transformation is rewarding as it is (but still fails to pacify my wallet) but I do hope the end result will be a wow!

Let’s cross our fingers but don’t forget to have fun this weekend!

The nightmare of s chips

CharlesMing — Sat, 10 Apr 2010 16:19:30 +0000

China Milk. FerroChina. China Print n Dye. Just some of the suspended counters here. The latter 2 have delisted without making an exit offer.

China Sun is going to join that clan of shame.

China shares…. yesterday’s darling, today’s nightmare.

While FerroChina did what it could, I find it hard to believe the same for the others.

Kepland

CharlesMing — Tue, 09 Mar 2010 02:57:31 +0000

I like Kepland today and went in. A nice triple bottom formation with a breakout level of 3.48. A confirmed breakout could see the TP of 3.7 to 3.75.

A fail would see it fall below 3.48 however there are MA supports below. In any case I wouldn’t want to see it pull back to 3.48 anymore which can imply it is a whipsaw con-job.

Sti bullish divergence in play

CharlesMing — Mon, 08 Mar 2010 01:54:53 +0000

Watch sti closely at 2800. If it closes above it and trends higher the bullish divergence will be confirmed. Watch for first resistance at 2850.

Bullish divergence observed in STI and HSI

CharlesMing — Thu, 18 Feb 2010 08:30:54 +0000

Awaiitng confirmation of the divergence. It could come if a higher low is formed. If STI rebounds off 2750 that higher low might be formed. To keep watch!

Gong xi fa cai!

CharlesMing — Fri, 12 Feb 2010 01:27:53 +0000

My last post before the CNY holiday period.

I’ve only done one trade thus far, which was yesterday on SGX. A short position entered at 7.75. The best place for a short is at aroudn 7.83 with a 7.90 as a stop.

Gap cover was done successfully but closed lower. Bearish signs all over. A crack below 7.7 and 7.6 will indicate a likely wave of more downside. If 7.60 cracks especially, I may enter with more short positions.

Have a great holiday ahead!