Intra-day Thought
Trading is like hunting, trader is like hunter. A "setup" in trading is like an "ambush" deployed during hunting after spotted an animal lurking around. But that doesn't mean the animal will sure get trap. In the case of Venture, the setup was a valid one but we miss the trigger due to poor market sentiment. Can the trap still be used for tomorrow? Can, provided if the 40DMA line was not penetrated. As of the time this post was made ( 3:50pm ). Venture was supported by the gap created on Feb 19 ($4.13). There is a good chance it will rebound from here when the sentiment returns but the rebound will not be attributed by the same setup if 40DMA is broken. Based on Prestine, bull & bear will give way after 3 ~ 5 candles so one way or another ( regardless of which setup ), it may still be okay to pick up in anticipation of rebound.
Going back to the hunting analogy, we can either capture the animal or we can also be eaten by the animal. The bear is struggling very hard to fight the last crusade, it is good to be ware. Wall Streets has an old sayings: It takes buying to put the stock up, but they can fall on their own weight!
As awaited for a long time, STI finally came down to touch 1,473 and penetrated it briefly during intra-day. Again, I do hope that it will plunge straight toward the Wave 5 target and not go on a "L" shape dipping. The situation is like a terminally illed patient knowing the remaining days can be counted but live has not given up on him yet. To me, this is really a pain !
Going back to the hunting analogy, we can either capture the animal or we can also be eaten by the animal. The bear is struggling very hard to fight the last crusade, it is good to be ware. Wall Streets has an old sayings: It takes buying to put the stock up, but they can fall on their own weight!
As awaited for a long time, STI finally came down to touch 1,473 and penetrated it briefly during intra-day. Again, I do hope that it will plunge straight toward the Wave 5 target and not go on a "L" shape dipping. The situation is like a terminally illed patient knowing the remaining days can be counted but live has not given up on him yet. To me, this is really a pain !
Labels: Trading Digest
posted by Market Wizards @ March 09, 2009
Comments: 0
