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Finally market start to move, to the downside

As of now, Dow is -264 at 2:20am. After consolidating for the last 5 days, whereby a lot of people got itchy finger and started to long unnecessary, the reality hits. Will it continue further down? Only the price can tell us. Dow came down badly because of Italian Job, where the lending rate suddenly spike higher, which signifying that it may be next, after Greece. Even if Europe can temporary band-aid this issue, do anyone still remember the US budget saga? US of A is still not out of the woods yet.

http://blogs.marketwatch.com/election/2011/11/08/15-chance-of-supercommittee-failure-analyst-says/

15% chance of supercommittee failure, analyst says

Anyway like it or not, trade with what the chart tells you. If you have been noticing, I have not been posting much stocks for a simple fact: I don’t see any counter worth posting. I don’t have a quota to meet or the pressure to find every single post. Don’t see anything I like, I don’t post. Easy, right?

Now my dilemma. A lot of counters to post tonight but no time to post it… ke ke ke…

So, if you have been watching my YouTube, webinar, you know that a lot of counters can draw the 2 lines easily, the 2 support and resistance that I have been emphasing. Break resistance long, break support short. Now is more like break support short.

Therefore will post 1 more before I go to zzzzz because have to wake up early to send wife to airport, and then I am a free man for the next 1 week.

DBS

DBS has been resilient and kept on moving higher over the last few days but the volume has been diminishing. And now, it hits a classical resistance of 12.90. Therefore, watch your ESP and decide your risk. Banks all over the world are affected by this European crisis and recently MF Global went under because of the same reason. Is it possible that Singapore banks have no exposure to it at all?

 
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