Noble Group
The Market:
No change in my view on STI. It will either trigger Parabolic SAR buy phrase to turn bullish ( another 10 points up will do so ) or edge down to touch 2100 ( over time ). A word of caution, even if Parabolic SAR buy phrase is triggered, the index may still come down to touch 2100 after a brief spike. Parabolic SAR can have whipsaw too. Two additional points to note: CCI is in over-bought. Trendline violation has always been unforgiven historically. So overall, it is a very tricky moment ought to be cautious.... When would I consider safe if STI does turn bullish by Parabolic SAR, if it closes above 2,400.
I have recently come across a wise quote from a book "Mental Fitness For Trading" by Norman Hallett : “I’d rather be out of a market (or stock) wishing I was in, than in a market wishing I was out.”. Think about it... make sense?
No change in my view on STI. It will either trigger Parabolic SAR buy phrase to turn bullish ( another 10 points up will do so ) or edge down to touch 2100 ( over time ). A word of caution, even if Parabolic SAR buy phrase is triggered, the index may still come down to touch 2100 after a brief spike. Parabolic SAR can have whipsaw too. Two additional points to note: CCI is in over-bought. Trendline violation has always been unforgiven historically. So overall, it is a very tricky moment ought to be cautious.... When would I consider safe if STI does turn bullish by Parabolic SAR, if it closes above 2,400.
I have recently come across a wise quote from a book "Mental Fitness For Trading" by Norman Hallett : “I’d rather be out of a market (or stock) wishing I was in, than in a market wishing I was out.”. Think about it... make sense?
Noble Group
An Ascending Triangle appears to be forming. If valid, minimum target is $ 2.15. This forecast must be taken in tandem with the broad market health! Again ( as I have reiterated many times ), a chart pattern is not a pattern until it is completed & breakout.
Labels: Market Direction, Stock Pick
posted by Market Wizards @ June 25, 2009
Comments: 0
