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2 cents worth , please dont flame if wrong view hor. :)
This was posted on 18th FEB 2008 and 27th FEB . I think we have seen the bounce up and on the 27th FEB 2008 the sell call.
From now , we should resume the trend down. support 2865 , 2750 and 2660. I think we may even see 2660 in the next 3-6months. my view
Change of trend or Dead Cat Bounce?
February 18th, 2008 Collin Seow Posted in Singapore Stocks Market | No Comments » Edit |
There is NO change of trend based on the weekly charts, in fact on the monthly charts on the STI the bearish sentiment is more obvious.
This is not to say that for the next weeks, the market will not rally. In fact,I think it will rally in the short term. But you should use this rally to sell into strength .
Based on the charts, the resistance is at 3150 and then 3300. I would advise to sell when the STI reaches these levels.
I see the STI finally consolidation at 2650 in the next 3-6 months which will present very good buying opportunities .
So in conclusion, use rally to sell into strength and trade very short term. Look out for long term buying opportunity at STI 2650
Sell on Strength today or trade the Momentum?
February 27th, 2008 Collin Seow Posted in Singapore Stocks Market | 2 Comments » Edit |
Alot of stock has hit its resistance today. I suggest that you should sell and reduce some of the holdings now . Congrats to all who bought Noble which I call to buy few days ago. http://www.collinseow.com/index.php/2008/02/21/noble-and-delong/
STI resistance at 3100 is broken , next level 3150.
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