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Fellowship of the Shares
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Eldarchen
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23-Jan-2008 09:33
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haha so can buy now liao bo? or wait and see |
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huatah
Veteran |
23-Jan-2008 09:30
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elf.. i owe u not once.. or twice.. almost can drink till u drop.. heehee.. ops!!! u r a good drinker?? haha.. |
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cashiertan
Elite |
23-Jan-2008 06:45
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ok the volume was decent at ending but the ending is weak. i think we may test today's low again in the near future. but chances of reversal is higher now |
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cashiertan
Elite |
23-Jan-2008 05:11
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The elliot wave 4 push all the way to top of wave 1 peak and bounce back. it seem the reversal maybe here. only thing i dun like is the low volume n the closing is abit weak |
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cashiertan
Elite |
23-Jan-2008 00:26
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elfin, remember dec our intinct tell us we will have a big dip before any recovery. maybe this is the dip we are predicting then. it seem our instinct is better than my TA skill. lol |
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narmag
Member |
22-Jan-2008 15:08
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Yes .. that's what I heard from my broker .. that market oversold.. May wait for that short rebound so that losses will be less. But I will keep an eye and see. DOW expected to be down big time ..sigh.. unless unexpected rate cut. Uncle Ben to the rescue? We are all hoping. No worries - my call. Thanks for sharing your time/ expertise. |
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elfinchilde
Elite |
22-Jan-2008 15:00
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no prob... pls rem it's your call tho, elf's not responsible for any of your losses or gains ah... on the plus side, selling is overdone; shd have a shortlived rebound soon. may consider running then. |
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narmag
Member |
22-Jan-2008 14:55
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Hi Elf - Thanks very much. Very helpful! |
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elfinchilde
Elite |
22-Jan-2008 14:48
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hi narmag, the following just fyi k, do make your own decision. :) and rem, i'm not always right! for the three counters couragemar, stxpo and biosensors, accurate as of today, techs only (haven't seen their fundamentals, so if you know them, that would be another factor in your decision). note that whether you choose to sell or average down would also depend on how much funds you have left. Sometimes, cutting may be better than holding, unless you can really average it down that low. esp so if you have no cash left: in which case, may be better to bite the bullet and preserve capital to enter another counter, or even the same one at a later stage. cos if you think this is a tanking market, you haven't seen anything yet. Entirely depends on your fund size etc. (digression: internal talk is expecting a surprise fed cut. will likely be a very brief rally then tho) stxpo: support at 2.11 then again at 1.64. upside resistance is to 2.7 likely max. So be prepared for dip to aug 17 low of 1.64 if you're prepared to hold. esp in this climate. note that STXPO trades on KOSPI too, so KOSPI's movement will affect stxpo, which accounts for a large amt of intraday volatility on this baby. courage mar: support at 0.29, then again at 0.2. upside is likely to 0.39 max for any rebound. Be careful of dip below 0.25 esp if sudden large selling occurs. biosensors: punted counter....my broker himself sold out at 90c....0.8 was actually the support, but it just broke it. next support at 0.69, then a steep fall to 0.585 (aug 17 low) to be expected. Pls be very careful with this counter. its a buy on rumor sell on news counter. upside is currently limited hence to 0.8 (the previous support). cheers! |
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amateur99
Member |
22-Jan-2008 10:08
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how about 'amibroker' ? any comment on this software? how much is metastock? thanks |
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Kensonic77
Veteran |
22-Jan-2008 10:02
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tabbykat, Thanks for sharing.... BR |
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tabbykat
Member |
22-Jan-2008 09:20
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kensonic, For serious trading, Metastock is right software. It has scanning feature and expert advisor. It also allows plug-ins. The initial cost of the software is worth every penny. Get this software and practice it while the market right now is choppy. You will be glad in a few months time when it rebound. You will have the expert advisor to assist you to pick or narrow down the likely candidates. Cheers |
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Kensonic77
Veteran |
22-Jan-2008 00:27
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Log-in here and watch some demo and nice music... http://64.78.186.73/odysseywebdev/clients/metastock/demo.html |
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CWQuah
Master |
22-Jan-2008 00:09
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Simck001, IMO I do think there is still some value in TA. What's happening now is that one must give more weight to the dominating factor - there is fear in the market among the long-stock players. So in practice, the odds of any technical supports being strong enough to oppose the bears are quite low. Chances of supports breaking down are higher now. As a case in point, if we really examine the STI charts very carefully, the lows created on last Thursday and Friday were not purely a random occurrence. If one had analysed the Fibonacci levels using previous significant peaks (3906) and troughs (2277, 2931, 2962) in the STI, one would figure out why did STI actually rebound off 3008 and 3035. In fact even 21 Jan's low (2917) is not exactly random. Take the most recent peak, connect it to the close on 18 Jan (3104), and one would see the 123.6% extension around 2920. |
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Kensonic77
Veteran |
21-Jan-2008 23:58
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simck001...Yes, it is true. It's useful when market is more stable... Regards. |
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simck001
Senior |
21-Jan-2008 23:54
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In the volatile market like this, any TA is meaningless. The mighty force is in the market. Do not believe the indicators. Please trade cautiously. |
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Kensonic77
Veteran |
21-Jan-2008 23:41
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Thanks winnifong. I will try out ChartNexus XPertTrader first. I believe it is more user friendly. Regards |
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winnifong
Member |
21-Jan-2008 23:29
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Chartnexus freeware with limited feature but suffice for charting, EOD inclusive. Metastock license, allows scanning, create or mod formula but need to pay EOD, unless you want to download from SGX but data is raw, sorting to metastock format and upload in offline mode. |
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Eldarchen
Member |
21-Jan-2008 22:49
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Sigh, the way the mkt dropped today about 5% in general , its as if US will plunge 600 points if they did a 5% as well. If we drop 26% during a recession, we'll be hitting 2830 soon and US will hit 10360 with chance of more downside if it hits 45% downside but I hope that doesn't happen. What I expect is a rate cut, a little rally and we aim for the 2830 and US aim for 10,360 before rallying in the second qtr. Will exit after the rate cut rally. Meanwhile its hard to guage where we're headed, was thinking of getting a put, but am worried US futures may be up tmr, pricing in a emergency rate cut. |
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Kensonic77
Veteran |
21-Jan-2008 22:29
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Dear all, Anyone uses metastock software? I am not sure whether to go for ChartNexus or metastock. Your insight and opinion please... Best Regards |
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