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Short ride, Federal.
harrrrrrrrrrrrrr i already q for China Sun inorder to be in the same train with you guys...
waiting for the tread owner's view..
so it seems tt today's impending big fall ...should not prompt us to buy up any bargains? reason because it will likely to fall further next wk eh....?
another reference, based on Newmoon's Pi reading, and as his convert, ipunter's pointed out. we are in the post new or full moon phase thus we got 1 or 2 weeks of depression due to the moon influenece? wah liew, it seem the moon is more accurate and simpler than any TA indicator..
next thing i read from your chart, it seem the dip just end at the lower bollinger band. it didnt break thru it.. the only saving grace..
from the bollinger band reading.. it means 2 situation, either the correction is a mild one or it is gonna be a real heavy whip in the butt!
Ray,
Yes i agree but i spotted something..
this sip which happen yesterday took a big chunk of the suppose correction. It seem the BBs wanna do a quick rebound soon. I have mixed indication from the reading. also the sentiment is diff from last year and march. the overall market is healthy and the climb is clear.
thus my guess is that the dip will rebound fast and furious..
Fears Confirmed - Dow breaks!
13266, drop of almost 200 points. This is the most major fall since March 13th 07, and now its 3rd consecutive fall.
Very likely to drop further. It's already Friday, most investors would not want to hold positions over the weekend, so buying support will not be there. I don't think anyone should bargain hunt at this stage.
#&(*(!)&$^(*)%!!
Tempestblue: You're right, ChinaAOil is currently in quiet mode, trading sideways, bbs are squeezed tight. If there's accumulation, I can't see it yet. Wouldn't recommend to buy at this stage till it breaks. Nice thing about this counter is that if and when it breaks, it has 2-3 days of good follow through.
Cashiertan: I'm still bullish about the macro run we've been having. I suppose I wouldn't mind if a correction does take place, more opportunities to buy in at lower prices and not have to watch my back all the time. Investors should however stay nimble and not overstretch their positions during this period. Abt the pennies, if a counter is gonna be played, it will still be played whether the index is up or down.
DJI chart: Noticed some similarities between the tecnicals leading to the Feb 27th plunge and the last few days. Dow is currently down 80 points.
Ray,
This batch of my fellow students and friends also predicted the Feb correction 3 weeks in advance (can view my postings in jan and feb).. so they quite accurate and now they can spot 1 week in adv which shows they skills have improved.. bad feeling abt this nevertheless i have covered 3/4 of my funds in bonds liao.. so 1/4 still ok for speculation.. Whats your move Ray in this Possible Correction period..
Ray,
I am screaming of correction since last week when my friends all bought QQQ put option.
Current Excuses are OIL price and Inflation and Bond Yield. Triple Reasons, enough for a correction?
one thing interesting, pennies still look ok and also oil stocks.. am not experience playing pennies or oil stocks during correction.. so we gona play or not play?
I'd like to ask the master gurus here, any chance of a breakout for ChinaAoil? Bollinger bands are constricting, and other technical indicators seem to favour an uptrend. Thanks very much!
ipunter, thanks, and anytime. :)
Cashiertan, yeah. I'm beginning to have a real bad feeling. DJI's down 92 points now.
Ray,
ur reading is close to what my friends trading US stocks tells me.. Smart money is flowing up since late may and havent enter back yet.
all of them are screaming for correction as they entered DOW Put Options.
Great stuff, Ray... :)
Keep up the good work!
Updates
Dow: Today is going to be an important day for the direction of the dow. It should be now forming the bottom channel by moving north today. Failure to do this would mean that it has hit below its previous bottom trough, which is bad, technically. Futures was down before the opening bell. Fyi, funds has been flowing back into cash positions since May 23rd.
Borrowing the news from CNBC...
Stocks Open Lower as 10-Year Treasury Climbs Above 5%
Stocks opened lower after an unexpected interest rate hike in New Zealand helped push the yield on the benchmark U.S. Treasury 10-year note above 5% for the first time since last summer.
"We've all been looking and screaming for a correction," said Stephen Porpora, managing floor broker with William O'Neil. "Is this the 5% correction? It's too early to tell, but the prudent investor certainly right now is looking at his portfolio and maybe nailing down a couple of profits."
STI was down 17.42 to 3546, however the pennies had a good run for the last 2 days. I hope to see it continue with blessings from a positive sentiment in the US tonight.
Still waiting for China Sun to drop~~~ didnt get at 715
Maybe later, maybe tomorrow FRIDAY~!!!
Hope I dont miss the train~!!! Wait for me~!!!
Ray,
believe me aenot, i got this indicator tools which tells me on feb correction that DJI will hit 13700 before coming down.. wah liew, i forgotten abt it.
some more i posted in this forum abt this indictator 13700 level during march.. that indicator steady leh but too bad i forgot abt the warning abt at 13700 level.. my bad..
FYI, Feb correction is only 6.66% and last June drop is 9%. Maybe we have only 3% drop this time?
if 10% correction. it means DJI will correct till 12350.... that is like 1370 points drop from current value...
