Summary of stocks to pay attention
Initially I wanted to post everything nice nice but looking at the time now, it is 2:15am and I got to wake up for the webinar, I decided to make this a summary and you will have to refer to the charts. Plus I have to send out 1 nice alert later after this. Apologies for that.
SembMar
SembMar today did a one black crow candle with MACD histogram a change of color from green to red. With stochastic and RSI at overbought, there is a high chance of profit taking.
Yanlord
Yanlord today did a white shooting star with higher volume. RSI and stochastic is at overbought level. If you are in long position, watch your trailing stop.
UOB
UOB today did a black shooting star, which is more bearish than a white shooting star. It is outside the upper bollinger band with stochastic at overbought and bearish crossover. There is a high chance of profit taking.
TigerAir
Today formed a white shooting star with high volume. Stochastic is near overbought but there is a bearish crossover. Do watch your trailing stop if you have long position.
SuntecReit
This is a “slow” counter therefore do not expect much. But today, SuntecReit formed a white shooting star look-alike with higher volume. RSI and stochastic overbought and stochastic bearish crossover.
Noble Grp
Today formed a black shooting star with a small lower shadow. Noble Grp has been stuck in a trading ranging from 1.05 to 1.25.
NOL
NOL is stuck at 1.28 resistance with today forming a black shooting star with high volume.
Genting SP
Don’t quite like this shooting star as I would prefer this to be a lot higher to be more effective.
Ezra
Ezra could not breakout from the trading range resistance of 1.00 and now formed a shooting star with very high volume. Indicators are all extreme overbought.
Jan 19, 2012 10:00AM Mid-week Webinar (Open to everyone)
Market has been rallying and coming close to Chinese New Year. Can it still continue to go higher? Will STI goes up to 4200? No, make it 8400? Join me in this last webinar in the year of the Rabbit.
Click here to access the webinar (5 minutes before it starts)
Sometimes the best money are made by not doing anything at all.
Right now, market is very overbought. It can still go higher but the risk is yours. I have been in and out from EUR/USD and doing nicely. Do note that there is a big difference between 5 minute chart and daily chart. When there is no trade in daily chart does not mean that there is no trade in 5 min chart. Just that the risk and reward is different.
Today’s volume is a lot higher, in fact the highest for the last 2 months. Everyone is coming into the market buying it up because if they don’t buy, they will miss the bull run of the century! Where are all the bad news? Where are the bears? Where is menopausal Aunty Merkel? Do remember, market is always enticing the shortist and longist. Both side must be slaughtered before market wants to go a certain direction. That’s why people always say that market is always cheating. Shortist must be feeling a lot of heat now and wondering if and when they should just cut loss. How long more before this bull run is over is anybody’s guess, but if you have a trading plan, then stick to your plan.
My personal market opinion
Today STI closed -35 points after several European countries got downgraded, but looking at some charts, a lot of them closed with white candles. And market is still overbought. Which means that if you are thinking of longing, you are taking in additional risk. But can it go higher? Of course as it is only your money. But to short, I do not see any convincing signals. Technically, if tomorrow’s (Tuesday) price goes lower than today (Monday) or Friday’s low, then yes, technically it is a shorting signal.
Although currency now does not closely related to stocks movement, I will still be watching it for any clues.
Jan 16, 2012 Weekly Singapore Stocks with Jonathan Tan
Singapore stocks on Friday was extremely bullish but right after that European countries got downgraded. With US having a Martin Luther King holiday on Monday and coming to Chinese New Year next week, how will Singapore stocks react? Find out what it is in this week video edition.
Remember to let your friends know about this video, Facebook and weekly webinar (Thurs 10am). Thanks.
Jan 12, 2012 Mid-week Singapore Stocks with Jonathan Tan
Market has gone higher over the last few days. Straits Times is in overbought territory. Can it still go higher? What can happen in the first month of January? Find out in this live recording of the webinar.
Remember to let your friends know about this video, Facebook and weekly webinar (Thurs 10am). Thanks.
Nothing to post tonight
Why? Because market already moved higher and it is now in overbought territory. Yesterday and today’s volume is a lot heavier as compared to the last 3 weeks. This sounds like pent up demand whereby too many people got itchy fingers and could not “tahan” anymore and have to buy something, especially when market is rallying. “If I don’t buy now, market will go up so much without me”, type of mentality. And this is good! Market is developing a clearer single direction and all I am waiting now is a signal.
Maybe the only market that can spoil the party is Shanghai Stock Exchange. If it goes higher, it may continue to pull the regional market higher. Therefore let’s see if there will be any surprise from uncle europe. Do expect the unexpected. For all traders, you must have a plan.
Jan 12, 2012 10:00AM Mid-week Webinar (Open to everyone)
Market has been rallying over the last few days. Now that we are into the second week of January, will January effect play out this year? How high can we continue? Join me in this webinar to find out more. All you need to do is to click on the link 5 minutes before the webinar starts. Note: You will need to have Flash installed before able to join in the webinar.
Hang Seng – Support and resistance level
Market always are forgetful. When it is bullish, it forgets the bad news, and when it is bearish, it conveniently forgets the good news. And it keeps on recycle it over and over again. Now that market is rallying, all I want is for market to go higher so that we have a clear direction. When it is not clear, it is hard to “predict” a direction, but when the direction is clear, sooner or later it will turn the opposite direction, therefore just have to wait for the nice signals.
Today in Singapore is one of the heavier volume days. Shortists either cutting loss, buyers coming in or just pent up demand. Either way, volume is higher and this is a good sign as when market needs to go up or down, volume is needed. Today a lot of counters in Singapore break its resistance. If you are thinking to chase, just take note that cut loss is a lot further away.
FirstRes – who will win?
FirstRes has done an impressive climb higher and now is at the previous high before it collapse. If FirstRes can go above 1.61, bulls have hope. If FirstRes goes below 1.575, bears has hope. Therefore let the price tells you what he wants to do.
