Few Notable Charts

Stocks at resistance:
UOL


UOB


Rotary


Hyflux


Stocks at Support:
Kepland


ST Engg

SPY shorts

I closed SPY shorts 10mins after market open, with 1.6 points profit, it maybe continue down later, or reverse upside to close the gap, I choose to just close it out to cap the profit. "WISH" it will push back and recover by tomorrow morning when I wake up. It's good for my sg longs. ridiculous right?



Gold and Gold ETF are going up, very bullish now. I'm having GLD and gold related ETFs GG, SLV, ABX, GFI... on my table now.

The Gloomy Smell

Yesterday's bullishness was more like a "one day stand", it's just zig-zag in the range, I was hoping it won't getting worse off, but I was wrong. Market won't care what I hope, what's my wish.It's what it is. As for now, I got two shorts and two longs but my long position size relatively bigger than shorts in Singapore market. something bit me on the back... I took out << Trading In The Zone>> to read.

The downturn on US market is much straight forward, I bought some puts on SPY last night and it should work out great later( 4 mins to market open).

Market Turned To Bullish

The swing up drastically on SPX and Dow last night lured the bulls step into the market.

Dow +92 @10374 support=10280
SPX +11 @1105 support= 1094
Nasdaq +22 @2236

Our local STI was down yesterday but managed to stay above support level 2760. with 2nd and 3rd liner up while the most blue chips sleeping.

What's on my table for today are bullish set up with their support level:

Epure 0.80
China XLX 0.55
Capitamalls Asia 2.25
Kepland 3.2
Ausgroup 0.58
MacqIntfra 0.51
Indoagri 2.05

CapitaMalls Asia

This fallen "Angel" seems found its bottom and rebounding now.

HSI update

It's come back testing its major resistance( the neckline)again, three times now!

Consumer Confidence Led Sell-off

So now the common folks in US starts to doubt.

I did a comparison between the S&P 500 monthly chart and the confidence number in below chart. Since market rebounce in last Mar, there are three down months in SPX, i.e Jun 2009, Oct 2009 and Jan 2010. Out of the three, Jun and Oct confidence report shows actual number is less than forecast, and Jan actual number is better than forecast.

Wilmar

Wilmar is bouncing back to its resistance level at 6.47. A good shorting candidate.

Genting Update

The general market sentiment is still weak, bulls not showing any strenth. Take a look at genting singapore. It may bounce back to test its support at 1.04, it will be a good entry point for short seller.

Market Update

After Feb announced to increased the bank discount rate from 0.5% to 0.75% after market close last Thursday, US futures dropped sharply, but before market open on Fri, the loss was recovered mostly. And market was closed with slightly gain of 0.2% or 2.42 points for S&P on Friday eventually. This is another example to tell us "news is not that important, most of time it create noise to the market only'

SPX have been rebounding up for eight consecutive days, back to near a the 1115 resistance level now. There is no clear direction as for now. I will be watching the two horizontal line as drawn in the below S&p chart.

STI had a big intraday swing on last Friday. it lost as much as 40 points and then was push up on late after trading, back to 2760, the support level I said to be watchout in previous post. It may come back test the uptrendline as drwan in the chart below, or get bounced to upside from 2760 level. Either side is possible.

Q&A RafflesEdu

This is to answer reader Lynn's question about RafflesEdu. It's a nice downtrend stock, no sign of reversal till now. The support level is at 36c, which is its support level back to mar 2009 too.

Straits Times

I'm watching STI for 2760 support level today see whether it can be hold. The gap(green tinted oval) was filled yesterday. Will check through the charts see those stocks at support level for a possible rebounce.



It has been for quite some time since my last " Lottory Play" post. And currently I have tow LOTTERY PLAY candidates for long. Old readers here should know by "Lottery Play" I mean the stocks are typically cheap(<50c), high risk, short term (couple of days max), volatile stocks, here they are:

Otto Marine
Yong Xin

HSI Under Resistance

HSI is kissing its neckline (resistance) for the second time. It's important for it to cross above this line, to move higher. otherwise it's a turning point to downside again, and it will be getting lower, to its previous support level. I'm seeing it's in favor of bears camp.

STI looks much better as it already gappe up and stay above its resistance line yesterday. It's now in the middle of the resistance and support line(also its 50dma and 20dma respectively).

Long Candidate

After scoured through the charts, I find this one to be my first choice to go long:

Golden Agri

Straits Times Index

Dear readers, Gong Xi Fa Cai.

After a great holiday, we have a bullish set up on STI. Last week it ends with a bullish white candle, after four weeks down in a row. My bias is to the upside, market is much promising to continue rebound.



But a caveat here, it looks a lot of resistance overhead of STI, given the holiday season, I wonder is there enough strength for STI to push through these resistance levels as indicated by red line below chart.

Sweet Holiday Ahead

Ends a week with nothing but up and downs. Absolutely frustrating. Lucky we are into sweet four days long holiday week. Enjoy your Chinese New Year and Valentine's Day!

Market Review

This is what happened on Friday's trading for US market.

VIX continue retraced back to below 23 level from nearly 30 points. The selling down pressure was temporary relieved by now. And from SPX's weekly chart shows it's first week close up after four black candles. Next week market may continue rebound.

Few Longs

Watch out below counters closely, they are very much promising to moving higher:

Cosco
Indoagri
YZJ
Capitaland
Sembmar
Des studio

Considering Start New Year with Gambling?

Here it is, a hot place that everyone talking about now for this Chinese New Year Eve--Sentosa World Resort is Opening, here's media release:

RWS gets ready for Chinese New Year
Singapore's first Integrated Resort (IR), Resorts World Sentosa (RWS), will begin the first day of the Tiger year (14 Feb) with the soft-opening of its casino. The public can have a sneak preview of the Universal Studios from 14 Feb to 21 Feb, at S$10 per entrance ticket.
The casino, the Resort's much-anticipated attraction, will have its first play at an auspicious hour with a private ceremony and welcome its first public guest at 12.18 pm.

KE Trade Platform Demo

My first time video edit, if you are not familiar with some of the tips on how to use KE trade platform, watch it here.



Double click on the video to watch it full screen.

What a Mess...

The Dow Managed climb back and trying to stay above 10,000 level. The US market up and down in the range throughout the whole session. It's frustrating time, and it will likely lasting for some time.

Stocks at Major Support

Yanlord and Genting

I did take a look on these two charts specifically: Yanlord and Genting. They seems attracted a lot of eye balls recently.

Yanlord recently dropped into hell. Real "hell" to somebody. It has dropped 30% in 4weeks, yet it's such a "good" stock ever. Was hurt by Chinese government policy on cooling down property sector. Now it's just came under its 50% fibnacci level. I think it's never die yet but no sign of rebound either at this moment, need to be patient for buying a cheap.

Look at its weekly chart, 4 black candle in a row. Will this week be its turning point? not confirm yet till Friday. Today's up slightly relieved the downside but it may be just short covering. Patience is the key for those who want to buy cheap. If the 50% fibo can't be hold, then 61.8%=1.4 level is the next support will be a really interesting to look for a rebounce.



Daily chart, it has to fill up the gap first, long opportunity only comes if it can close above 1.7 this week.



Genting is one of the stock I personally try to avoid. I posted it in the past,(click HERE) but now it is ended, not interesting anymore to me. It's too hot to trade, everyone looking at it, will everyone make money in this market?The majority losing money. Look at it's chart, it still got hope if stays above 1.05, once break below this level. it's end of the story.

Dow went Under 10,000

Are we under-estimated the bears? Last night Dow's 104 points drop put it under the 10,000 important psychology level. Market's worry about the European counties debt no relieve yet.

STI component Stocks S/R

Below are blue chips support and resistance level to watch out. Some of them are at 200dma already.

Market Review

Good morning my dear readers! We are into the CNY season this week.

I have few quick notes here before market open first, and review some of the charts during the day,a lot of stocks at their major support now.

1. General market is still very weak.

2. As the volatility goes higher, we shall see more of big swing happen. I have already mentioned few times in my recent posts. It not only means it will go down fast, and it will go up fast too when it rebound. Last hour of Friday's S&p 500 big swing clearly demonstrated this action.

3. Many blue chips are at their major support, some are at their 200dma. This provide us great opportunity when it confluence with general market major support level. Thus watch out general market support level.

4. Last Friday's long-legged doji on S&p 500, and Dow don't mean that they must reverse. It show that bears become weak only.

5. STI major support 2600;
S&P 500 major support 1030;
Dow major support 9700

US Indices

US indices formed a lower low last night. Though STI still got chance to rebound to its 50dma level, but the chances are very slim now. I'll be focus more on short side when it comes rebounce.

STI and HSI Next Move

STI's fierce drop has been slightly relieved for the past six days. Currently it's sitting above its uptrendline as support, kinda of sideway in the range from 2720 to 2768 area. This is frustrated, I feel it can go either way, up or down at this conjection. A close above current resistance level 2768 could lead us to its 50dma thereabout, otherwise a break below current uptrend line would resume its previous drop.



As for HSI, it's approaching its prior support turn resistance level--the neckline of its head& Shoulder pattern, after yesterday's 450 rebounce. A key level to watch out today.

More Stocks at Major Support Level

STI Resistance

US market kick off Feb with big gain last night. Technically, it's rebounding after down so many days. my first major resistance level for STI will be 2820, then 2850.



The rebound in stocks should gain more strengh.

CSE at major sppt


Des studio: IR related, it come back to my last time entry level also support again.


Kepcorp is just doing phenomenal good during the down days.