Google

01 July 2006

 
Market Update (30 Jun 06, Fri)

Market sentiment turned bullish abruptly for US market even before US Fed FOMC result / decision was out. Also noticed that Dow 30, Nasdaq and S & P 500 formed double bottoms and broke above db necklines respectively with heavy volumes on the breakout day, indicating validity of breakouts.

I was forced to reverse my bearish view (indicated by mass selloff in recent days) and take decisive actions by mass buying. I did not think too much and scrambled to queue to buy those counters listed below as planned in advance at prices 1 to 3 bids above previous closes in early morning before SGX opening on 30 Jun 06, Fri.

On hindsight, the mass selloff was not timed well. The only solace is that I have got rid of those weak stocks and replaced them with the strongest ones, which is not bad after all.

Nontherless market action on 30 Jun 06 shows that performance of China plays was muted comparing with general market. Technical charts show that most of them continue to consolidate at around current levels. Will this pose a potential concern?

Shortlisted candidates for participation of wave c (up) of wave B
(Selection conditions - price 5 up waves, corresponding volumes 5 up waves):

T16 CHINA DAIRY --- bot .57 .575 .58 on 30 Jun 06 rebound 50% of total fall tg .628
M09 MEDIARING --- bot .375 on 30 Jun 06 rebound 50% of total fall tg .445
I04 XPRESS --- bot .165 on 30 Jun 06 rebound 50% of total fall tg .22
I54 FABCHEM --- bot .575 .58 .585 on 30 Jun 06 rebound 50% of total fall tg .593, upside limited
G54 CHINA ESSENCE --- bot .595 .60 .605 on 30 Jun 06 rebound 50% of total fall tg.595, tg exceeded
W81 SKY CHINA --- bot .415 .42 .425 on 30 Jun 06 rebound 50% of total fall tg .473
F53 CHINA HONG --- buy order not filled on 30 Jun 06
B49 BRIGHT WORLD --- bot .495 .50 .505 on 30 Jun 06 rebound 50% of total fall tg .545 iocbc FA tg .60
L46 LUZHOU --- bot .735 .74 on 30 Jun 06 rebound 50% of total fall tg .81
J31 JIU TIAN --- bot .605 .61 .615 on 30 Jun 06 rebound 50% of total fall tg .593, tg exceeded
I85 HENG XIN --- bot .505 .51 .515 on 30 Jun 06 rebound 50% of total fall tg .473, tg exceeded
M32 MIDMOUTH --- bot .52 on 30 Jun 06 db tg .56 rebound 50% of total fall tg .598
S11 SSH --- bot .26 .265 .27 on 30 Jun 06 rebound 50% of total fall tg .278, upside limited

# posted by TopTrader @ Saturday, July 01, 2006
Comments:
Stocks update (04 Jul 06)

Shortlisted candidates for participation of wave c (up) of wave B
(Select pre-conditions - price 5 up waves, corresponding volumes 5 up waves):

T16 CHINA DAIRY --- bot .57 .575 .58 on 30 Jun 06 rebound 50% of total fall tg .628, high .615

M09 MEDIARING --- bot .375 on 30 Jun 06 rebound 50% of total fall tg .445

I04 XPRESS --- bot .165 on 30 Jun 06 rebound 50% of total fall tg .22
high .175

I54 FABCHEM --- bot .575 .58 .585 on 30 Jun 06 rebound 50% of total fall tg .593, upside limited, high .63 Temporary halt, what's happening?

G54 CHINA ESSENCE --- bot .595 .60 .605 on 30 Jun 06 rebound 50% of total fall tg.595, tg exceeded, high .625

W81 SKY CHINA --- bot .415 .42 .425 on 30 Jun 06 rebound 50% of total fall tg .473, high .44

F53 CHINA HONG --- buy order 1.51 not filled on 30 Jun 06

B49 BRIGHT WORLD --- bot .495 .50 .505 on 30 Jun 06 rebound 50% of total fall tg .545 iocbc FA tg .60, high .51

L46 LUZHOU --- bot .735 .74 on 30 Jun 06 rebound 50% of total fall tg .81, high .81, tg triggered

J31 JIU TIAN --- bot .605 .61 .615 on 30 Jun 06 rebound 50% of total fall tg .593, tg exceeded, high .63

I85 HENG XIN --- bot .505 .51 .515 on 30 Jun 06 rebound 50% of total fall tg .473, tg exceeded,high .535

M32 MIDMOUTH --- bot .52 on 30 Jun 06 db tg .56, rebound 50% of total fall tg .598, high .57

S11 SSH --- bot .26 .265 .27 on 30 Jun 06 rebound 50% of total fall tg .278, upside limited, high .275
# posted by Blogger TopTrader : Tuesday, July 4, 2006 at 7:14:00 PM GMT+8
 
Post a Comment



<< Home

This page is powered by Blogger. Isn't yours?