Every Dog Has Its Day Under The Sun !
I am creating a new tag in this blog to record important market action for future reference. For example, how the market response to major move in Dow after a holiday break :
August 7 Friday ( SG ) : STI plummeted by 52 points
August 7 Friday ( US ) : Dow rose by 115 points
August 10 Monday ( SG ) : STI was closed due to replacement holiday for N-Day
August 10 Monday ( US ) : Dow fell by 32 points
August 11 Tuesday ( SG ) : STI negated weakness from Dow on Monday, "claiming the fun it has missed on Friday" and rose by 47.95 points ( Actually, this is a technical rebound but still it has negated the current market action of Dow and take reference from the strong gain it has missed ).
When come to 'claiming the missing fun', STI is very good in it. I guess STI believes "Every dog has its day under the sun" and won't let go its turn easily.
Congratulations to those who had taken positions on Friday ! Yanlord rose 11 cents to $2.54. Another counter I have been eying but did not mention here is IndoAgri, rose 15 cents ! As stated in my previous post, I will ( have given ) this rebound a miss intentionally. I am changing my trading time frame and are currently looking at position trade entry instead of swing trade. I believe the market is currently going through a ABC correction which may last for several weeks ( gliding down slowly ). This view will be wrong should the market break above 2,700.
August 7 Friday ( SG ) : STI plummeted by 52 points
August 7 Friday ( US ) : Dow rose by 115 points
August 10 Monday ( SG ) : STI was closed due to replacement holiday for N-Day
August 10 Monday ( US ) : Dow fell by 32 points
August 11 Tuesday ( SG ) : STI negated weakness from Dow on Monday, "claiming the fun it has missed on Friday" and rose by 47.95 points ( Actually, this is a technical rebound but still it has negated the current market action of Dow and take reference from the strong gain it has missed ).
When come to 'claiming the missing fun', STI is very good in it. I guess STI believes "Every dog has its day under the sun" and won't let go its turn easily.
Congratulations to those who had taken positions on Friday ! Yanlord rose 11 cents to $2.54. Another counter I have been eying but did not mention here is IndoAgri, rose 15 cents ! As stated in my previous post, I will ( have given ) this rebound a miss intentionally. I am changing my trading time frame and are currently looking at position trade entry instead of swing trade. I believe the market is currently going through a ABC correction which may last for several weeks ( gliding down slowly ). This view will be wrong should the market break above 2,700.
Labels: Market Action, Market Direction, Stock Pick
posted by Market Wizards @ August 11, 2009
Comments: 0
