Around 215am singapore time, Ben was making his speech for the FED meeting. Dow spiked upwards sharply and never looked back. So what's new? Rates remained unchanged. But I guess people perceived that his language had softened in the sense that he might actually decrease the rates to help boost the economy somewhat.
Looks like my puts have to be sold, which I did today. Made losses and overall was happy. My CDL warrants surged up because the mother share rose 80 cts today. A few more cents my warrants would turn +ve, so pls do let that happen!
STI charts look set for another run. After breaking out of triangle convincingly, and shooting past resistance at 3150 (though with low vol), STI is heading towards next resistance at 3240.
RSI trending upwards and above 50% (bullish sign), MACD blue line cut red line and trending upwards, broke out of symmetrical triangle on the upside, broke resistance level...it's suicidal to hold puts unless you're having contrarian view. STI is sitting with the ema14 days about to cut ema20 days.
The only alarm bell in my mind is: LOW VOL!
Going up on low volume is not a good sign..not good at all. Let's be a careful bull here.
BTW, I'm going to TRY swearing off warrants for now. Until I've developed my system and portfolio management, I'll probably won't touch stocks for now. Need to close door and practise gongfu.
Pac andes still haven't announcement anything yet. It's really exciting to see what sort of goodies (or baddies) they are going to say. Suspenseful!
Based on my charting, CDL should hit resistance at 14.6. From the looks of it, it might break that target since some brokerage firm upgraded their take on CDL. Hmm, crossing my fingers here. Longcheer might hit 0.8 (next resistance) before reversing. Might be reversing already because today seems to be running out of steam.
Dow is now at -5.
0 comments :
Post a Comment