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Thursday, November 19, 2009

Trend is Your Friend or Your End?

I'm still unable to upload any pictures here in my office( think it's restricted in some way), while at home it's fine. I'm still checking out on this,and I'll need to re-schedule my posting time if it still can't be work out by today, just bear with me for one more day if you are particularly kind of visual person, just like me.

STI occurs to me very fishy at this point of time, as it's eating away its 56 points gain three days ago. and coming back to its support level at around 2745 now. If it were continue retrace, the the gap between 2728~2735 happened four days ago is the possible support area. So the last two days of the week is very important-- it will determine how would the weekly candle looks alike. Any price below current level 2745 will make it a doji or shooting star, which is not a healthy sign.

On the other hand, it doesn't mean I won't go long at these point of time, I'm doing more swing trading -- two days to two weeks max. Pls stay out for the moment if you are a kind of long term investor -- I'm certainly not.

Have a nice day.

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