Midas -Long candidate

Morning!

Midas breakout resistance and completed retrace. looks a good long candidate. My whole day was occupied today thus won't be able to blog until night, chart yourself pls.

Good luck!

I've Been Waiting For It!

The Boring Killer

I Want To Trade Like This Guy Shoots

Where Will It Stop?

With the recent non-stop soaring on STI, you may wondering when will it stop? The STI is just beneath it's 50% mark--means to say, it has already recovered almost 50% from its once-in-history plunge to its historical high.



I think the 2700~2750 tinted area as resistance needs our serious attention.

Finally It Comes Back

but em not talking about market..haha it's my blogger, I can't upload any pictures nor videos and the message composing function is like being distorted...make me feel so uncomfortable to post...but it's back now guys...more to come.

Doing Nothing

What can you really do when $SPX showing a huge good looking inverse head and shoulder pattern but RSI is at 82%?

The answer is doing nothing now. It makes it tough to blog because it seems every chart looks so bullish but it also generally overheated. Since it's earning report season for many US firms, I have to extremely careful to avoid those up coming earning report dates.

On the other side, there are not so many counters showing bearish patterns after this kind of "insane" run up. The upward momentum is just so strong, those who tempted to short have been barbecued the last week or so.

It's hard, but i'm just waiting for now.

Long Candidates for China Stocks

China stocks is much like in the year of 2007, keeping on climb higher and higher... I manage to bought few counters weeks back as mid to long term investment. If you have the privilege to buy china stocks and do not want to miss the hot run...below the SSE stocks for your consideration, there are plenty of room to the upside:

Long Candidates for Tomorrow

Below are the possible long candidates for tomorrw, with stop loss price. I was unable to upload picture with blogger now, sorry guys.

UOL 3.19
Capitaland 3.69
YZJ 0.77

and Below are few breakout play:
Allgreen
Kepcorp
Sembmar
SGX
Yanlord

All Clear for Upside?

It forced me to consider the possibility,even I'm unwilling to say, that we could be emerging in "all clear" mode for bulls. -- Well, I'm HOPING a retracement will occur but it did not happen at all. It will happen one day, maybe tomorrow, maybe next week but not for now. With a very, very fast and decisive upward moving, I guess all bears are screaming to escape.

Without any doubts and hesitation, I must tell myself clearly this time: Bulls own this market, no more bears.

Problem with uploading chart

Good day, all!

On market open, it appeared to me that a very nice ascending triangle was forming for the SPX(S&P 500) futures but haven't breakout yet, I was wondering it should be having a slacking period without paying much attention, but when I revisit it after 9.45pm. Guess what I see? It beakout quickly and decisively, without a look back after that. What i want to tell is this: Trading is all about timing and patience. I can't remember how many times it happened, but most of time, a new trend or a clear direction emerging when you give up or nearly give up.

I wanted to show you this nice chart but I can't upload any pic at this moment. Don't know what's wrong with blogger.

Anyway, It was too fast for me to chase it...oh Gosh! I decided to give up SPY( I trade SPY instead of the /ES) and buy TSO call options instead.

Bull 7, Bear 0

Bulls has been soaring 7 white candle in a row already. The bulls totally own this market now. Just incredible.


But the question now is: do you want to get in now? No. It's not for me. Why? I'd rather prefer to get in on retracement. Stocks does always retrace, believe me. Look at yesterday market internal, it's negative despite the rising on price. This indicators measures the difference between the NYSE total volume flow in and out, when the number is negative, it simply means selling volume more than buying volume. I could consider it's the 1st market distribution day for yesterday. Let see how it goes for tonight.

Shorting candidates(2)

IF...yea, if it continue weak for US market today, then we have some shorting opportunities for Singapore market tomorrow too.well...compare to US market, SG really drive me nuts. My DBS was just stopped out today, well on the other hand luckily it's out, if not I will suffer even more if US down today. Below are some of the shorting opportunities I'll watch out tomorrow. With this, I shall call it a day. Good Night.

Shorting candidates(1)

With Dow formed a shooting star now( US lunch time, so half day over), it's a nice shooting star at the neckline of the inverse head and shoulder patter( refer to previous post), seems the bears fighting hard for their last defence. Anyway, the retracement is well expected as it has been rocket-soaring for the past six days already.


With this, I did have few wonderful shorting(put options) opportunities on hand. So far as today, my portfolio is showing a nice profit.




Note as for APPL and GS i'm using one of the option hedge strategies--Strangle to limit my risk in case it against me, as these two are very volatile stocks.

DJI Trend

Look at the DJI( Dow Jones) weekly trend, kinda of inverse Head and Shoulder Pattern, interesting? To confirm this pattern's validity, DJI 1st have to cross above its neckline, then we are looking at its next target area should be 11,000 area.



If you can remember, I ever said at the beginning of the month that Jul looks much like a bearish reversal month as June ended up with a doji candle. Now, It haven't happened yet,(we have to wait till the month end), What has happened so far is that DJI hit a new low and quickly rebounded. What I want to point out here is that, as a trader, we have to be prepared for both side of the market, up and down. And should be always have the flexibility to quickly switch to the other side if we approved to be wrong. Don't argue with the market, it's always be correct, only you can be wrong. What will be the result? Let see it again at the end of this month. But for now, I'll more bias to the bullish side.

华语cool

各位乡亲父老，大哥大姐们，小弟我今天心血来潮，不谈股票，用回我的母语来记录一下我的心情。你可能会觉得：这小子终于良心发现，用回你的母语了。哈哈。。。请各位不要误会我，我不是“叛国贼“啦，我之所以坚持用英文来记录，不是为了要炫耀我的英文有多好，而是因为我觉得我的英文很差，所以我才要不断的学习来提高它。这就是我当初开始用英文写博客的原因之一，这么久以来，用英文写作确实帮助我进步不少。同时，各位可能也看到了我的英文有很多错误，非常抱歉，还请多多指证。

谈到华文，现在好像全世界都在说它很重要，都要一窝蜂地在学习它。我由衷地感到高兴，中国越来越强大了！但是，当我的新加坡朋友跟我讲：你还学习英文干嘛，现在华文这么火，懂华语就够了。我知道他在唿弄我，因为在新加坡快十年了，我深深地体会到不掌握英文，我会非常非常吃亏。想当初，我在国内也是一个小小的电视台记者，所谓的“无冕之王“，不愁吃喝。来到新加坡，一切从零开始，吃尽苦头。。。哎，不要谈这些过去的事了。所以，华文重要更多的是说给那些受英文教育，不懂华文的人来听得。

值得庆幸的是，现在我过得很开心，找到了我的人生目标，每天都可以做自己喜欢做的事。工作不再是一种强迫，而是一种选择，可以全心全意投入到自己事业，朝着自己的目标前进，没有任何人，任何事可以阻挡我成功。所以呢，我还会继续学习英文，写英文，其实我现在觉得写英文要比写华文简单，方便很多。帮我节省了很多时间，每次我在ChartNexus　forum里面写华文都要花好长时间，因为汉语拼音现在不灵光，找个字要找好半天。哎呀，我的华语已经有点生锈了。

股市如人生，我在股市里找回我自己。忠心感谢你们的支持，和花时间读我的博客，祝愿大家可以通过股市投资让自己和家人朋友过得更好些。拿破仑说过：人生奋斗，并不一定都是强者或捷足先登的人；坚信“自己会成功“的人，迟早必定会成为胜利的佼佼者。

Want to Know What Others Looking For?

If you're ever curious how other Singaporean thinks (or at least what one seeks), start to type in any phrase into Google, and it'll automatically show you with a series of suggestions, ranked by popularity. Example such as...

The VIX

Just a quick observation here, VIX is back into the range <25 now, nearly off 75% from its last autumn high. What a plunge!

Broke--2008 Market Crash

The Head-Fake

As you can see, what took about 20 days to the downside took only about 4 days to be erased by upside. I thought the downside move was the faster one! %$#%&*@.... The bull did one greatest head-fakes in history with that head and shoulder pattern.

The Dismissed Head & Shoulder

Well, this pattern had a lot of promise, but it's dead now.



So here is the broad view of SPX.



The bulls owns this market now.For bears to take over, SPX would have to blow below this month low at around 875.The odds of that happening went down for the past few days, 875 support is very strong, as we can see apparently.

The yellow color zone shows the possibility that the bulls could push up ultimately, they have to pass 950 major resistance first.

So What Happened?

I first want to apologize to my readers for dour nature these days. I'm relatively clean hand in Singapore stocks for this rebound, especially missed my favorite stocks such as Citydev and DBS--I didn't make a dime out of it. The reason why I sit with hand-free is probably I did too much intra-day and short term shorting before the rebound, then emotionally still can't turned it around, SCARED to slap myself if I went long. Trading becomes hard when your emotion is up. So these days I was just doing my trades summary and revision.

Anyway, it's okay. I made stunning profit by buying calls in US market. Well..I feel more comfortable to trade US stocks these days, and quite accurate to identify the turning point. This tiny Singapore market maybe too much factors affect it? Sometimes lead me confusion.

I'm happy that I could catch the very "bottom" of SPY( ETF of SPX) at around its major support 878. Apparently, market sentiment has changed over the past few days. I'll explain it in next post pretty soon.

Long Candidates

Below is long candidates with stop loss for tonight(High Risk):

APAC 4.8
HW 2.54
TII 11.2
WR 17.9
ABD 2.23
ALD 3.02
BPO 6.77
C 2.54 Earning Report 17/07
CIEN 9.07
DYY 5.64
GE 10.86 Earning Report 16/07
HRP 3.94
IR 19.47
TSS 12.6
UFI 1.25
ZION 11.1

Important Point

Hi everyone!

Last night's big upward move temporarily relieved the bulls from falling off the cliff. With Dow up 185 points and $BKX bank index up about 6.5%, the shorters took it on the chin. As for me, my hands cleared with puts by last Friday, thanks goodness! And My SPY call(entered on last FRI) and BA call( Entered last night) made me terrific paper gain by now. One thing i keep on remind myself is: Don't chase the market, be patiently wait for the best opportunity comes to you. It works great indeed once executed.

Anyway, my calls are meant for short term positions-- maximum 4 days to exit. I'll keep myself nimble and be flexible.I think tonight is a very important day, for short-term market direction. As SPX approaching its key short-term resistance level. 20dma and 50dma just above its head.



If tonight is another strong day, we probably into the game of waiting, since both bulls and bears are continue to wrangle each other. I'll looking to exit my call position tonight if the bears attack back. Never give back all the profit.

Short CDL

Shorted CityDev@8.14

The Law of Attraction

The law of attraction (applies to the whole universe): Whatever happens to you in your life, you attract it.

Is this post sound a bit of strange here? Nope…I just happened to know this function in word 2007 which allows me to publish post directly from WORD, no need to open my blog website, sounds funny huh? It does work. Amazing isn't it? Anyway, this quote is from the movie "The Secret" which I just watched again last night. It's highly recommended. Trailer below.

The Waiting

A day like this is quite boring. I'm a little bit disappointed with the bullish reversal candles set up -- they just don't have the courage to climb up further.

It's a sloppy day -- already in weekend mood? Since today is the last trading day of the week, it reminds me to just browse a little bit of the weekly chart, what I do is to pull out the weekly chart, and have to flip through the charts with the live price to gauge its probable candle formation.

The CityDev weekly chart caught my attention, it looks very interesting to me now. As shows below:



If you look at the last candle, it shows a long- legged doji for this week-- not confirmed though. So the closing price today is important, as it will determine whether it's a doji--at support which means the 8.4 support is held, or a black candle with high volume--whcih means the possible break of a major support. It can be either way, let see where it goes, you will know the answer in just 60 minutes.

Wish everyone nice weekend!

The Bullish Reversal Candles

Morning! A quick notes before market open, below are the stocks with bullish reversal candles I'm eyeing for today( my favorite stocks!)

The Last Straw

SPX( it's the symbol for S&P 500, in case you are new to it) hit an intra-day below its critical support 878 and struggling grabbed its last straw, with the close just above it--879.56! A brilliant move? I'm amazed with all these figure.



It's starting to feel like each day is three steps forward, two steps back. There's progress -- and profit --for everyday, all effort to paid for catching the correct move then sit on hand to wait... just 90 minutes before close, the big boys step in, and push the index higher, a nice double bottom formation. My expectation is, there will a bounce coming...let's face it, stocks never be one straightline down.



And, Have you ever seen the ICE melt? Here it is:

Bulls Give Up Finally

What time is it now? It's Bears' time. Bears should celebrate their final win now---bulls give up their final defense.

Just a quick check before my bed today: SPX break 878 and the target is the thick cyan line . A terrific day! Night.

The Biggest Enemy In Trading -- YOU

Here's an excellent article I read at thinkorswim, Pls read the whole article, seriously.


Q:

"What is the most important factor in learning how to trade. I'm reading lots of books and have attended a few seminars but am not sure if its all "clicking". I know there is no holy grail, but if you could pick one thing that is most important, what would it be?"


A:

Your question is awesome and brings up a lot of issues. The big secret is.........(ominous music begins playing in the background)... YOU. Yes, you read that correctly, the big secret is YOU. Beyond all of the analysis skills it will always come down to YOU. Not the market, not technical analysis, not fundamental analysis, not even my beloved market internals. Because if you know all of that cold and you have not mastered yourself, then you will still lose.

Making trades is never pitting yourself against the market or other traders. It's simply you versus you. This is because the market is essentially a distillation of the same forces that govern life itself. Our entire existence is one teeter-totter between desire and a need for security. You either want something, or you want to be secure. In the market this is characterized by greed and fear. These forces wreak havoc on your mindset as you are entering the postion, holding the position, and exititng the position. But in reality its all just YOUR reactions to the postion because you have some money on the line and that of course changes everything. In reality, the market does not know you have the postion on, nor does it care, and unless you are a really large institutional player, nobody else knows or cares that you have the postion on either. Every tick is essentially magnified because its coming through this cloudy filter that is you.

So how do we eliminate the "you" so that there can just be market and our reactions can be neutral regardless of our positions moving in or out of our favor? There are a number of ways that this can be developed. An interesting excercise to do is to sit by your window if you live in the city (or just find a park bench) and casually drop $100 bills into the wind. Watch them as long as possible and while watching them, try and watch your mind even more closely. Note how quickly it begins to "hope" and construct false scenarios that would allow you to run out later and retrieve the money. Oooh, its caught up against that bush! I think the wind will stop blowing now and it will stay stuck there. I could run our right now and get it back.... Sound familiar? How about Ok there's support here, its definitely going to bounce, etc etc..... Try it. You "win" when you can just watch the money float away and the mental gymnastics stop. Authors Note: While we feel this excercise definitely has merit, we did start to have shades of doubt when we were awakened for the third time by homeless bums throwing little pebbles at our window and yelling "hey man, do you have any more money?"

Don't want to throw a few grand out the window you say? Well then do anything you can to de-energize the markets actions. By this we mean simply to systematically decrease whatever sensations the market is causing you to feel. Easier said than done obviously. Amongst others, two big steps in the right direction are to cut size down to manageable levels and keep a trading journal. The first helps you to "not care" about the money because with appropriate size, no one loss can ever end your career. And the second creates that "from a distance" macro view which shows every single trade to just be one of many, thereby making each individual one less important. Obviously this is just scratching the surface of what is a very big issue. All of this is discussed in greater detail in our second favorite trading book of all time (right after Reminiscences...) by Mark Douglas called "The Disciplined Trader".

Extremly Weak in Properties

Congrat to those who shorted properties...it's totally cracked...oh, my beloved CityDev! You should watchout these top losers: citydev, capitaland, sp land, kepland, yanlord,f&N...

By the way, you can find my contact at my profile page--- go to "view my complete profile" below my photo, then click "Email" under "Contact".

You are welcome to share with me ur story But NO spam please! I'll reply you within 24 hours.

Same Must Be Said Here

There's one good thing and one bad thing for Bears. The good one is it had got another terrific day, the bad one is 878 critical support level for SPX is still hold.

Stocks are Ready To Jump Off Cliff Today

I'll just throw out some charts here, short candidates for today. Key support levels are gonna to break(or just break).

Key Support Levels Break

The Dow, Nasdaq, are already jumped off,break their key support levels at 8,200 and 1,760 respectively.

Only SPX still struggling close at its critical support 878. To my opinion, it's a matter of time to break soon...

GTLS Breakout

Nice breakout for short, with the target price tinted.