As soon as the trading bell started for STI, a big jump upwards, most counters gaped up. But as soon as after the lunch break, STI lost momentum and went down. Most counters fell in reacting to HSI's fall.
Dow's Friday rally was ignored? My answer will be yes and no. The market have been reacting somewhat more prompt to bad news and less rallied when there were good news. Dow's Friday rally was not cancelled. Sentiment still positive. Institutions will proved many wrong tomorrow when trading starts because they do not chase after price. They always buy when people thought that price are not sustaining. The myth of T+3 sell down does not necessary be accurate, as everyday could be T, unless an unusual up movement with huge volume or RSI overbought indications.
Short term, bullish on Lottvis, Freightlink, Eagles and Hongguo. Lottvis will definitely recover after today's sell down, looks more likely that it had been shorted than sell down. Rowsley will resume up gaping movement. Freightlink and Eagles, top volume stocks will be bought up with a moderate gain of less than 3 cts. Hongguo and Jiutian will resume up movement on small volume.
Long term wise, bought Transport stock, Comfortdelgro today and also still holding on to Sembcorp. Outlook remain positive and with high possibility of upside potential by next Capricorn effect.
Any opinion herein is made on a general basis and is not an inducement to trade.
Dow's Friday rally was ignored? My answer will be yes and no. The market have been reacting somewhat more prompt to bad news and less rallied when there were good news. Dow's Friday rally was not cancelled. Sentiment still positive. Institutions will proved many wrong tomorrow when trading starts because they do not chase after price. They always buy when people thought that price are not sustaining. The myth of T+3 sell down does not necessary be accurate, as everyday could be T, unless an unusual up movement with huge volume or RSI overbought indications.
Short term, bullish on Lottvis, Freightlink, Eagles and Hongguo. Lottvis will definitely recover after today's sell down, looks more likely that it had been shorted than sell down. Rowsley will resume up gaping movement. Freightlink and Eagles, top volume stocks will be bought up with a moderate gain of less than 3 cts. Hongguo and Jiutian will resume up movement on small volume.
Long term wise, bought Transport stock, Comfortdelgro today and also still holding on to Sembcorp. Outlook remain positive and with high possibility of upside potential by next Capricorn effect.
Any opinion herein is made on a general basis and is not an inducement to trade.
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