Tuesday, June 05, 2007

I'm back!

Sorry for being Missing In Action :)

Haven't been actively monitoring market for some time, so I'm a bit lost. I'm just happy that Shanghai bubble had been burst for the time being after China increased stamp duty. The big bad crash wouldn't come for the next few months, I'm sure.

I saw on TV mobile that China might put some investor friendly policy. I've got no details on that, but could it be the reason why we see a good rebound from Shanghai today?

My laggard stocks went up already. Straits asia went up last fri and yesterday to record high of around 1.41 before closing down 0.060 to 1.35 today. Swiber went as low as 1.64 or something to bounce right back to 1.77 today. Looks like swiber is still one hell of a good stock. It's been dropping for weeks already but it didn't manage to go below ema50 line, so that's a good sign. Good time to enter swiber now.

Construction stocks saw a brief rebound on monday, but without actual news, it just went back to where normal today.

SGX makes me drool...broke out of ascending triangle for both weekly and daily, a super strong trading setup. Classic ascending triangle accompanied by decreasing volume and expanding volume upon breakout (not shown below, below is weekly charts for sgx).

That's all for now. Dow -63 now. Okay lah, been breaking new records for the past 2 trading sessons, take a break. STI tomorrow should see some retracement, nothing serious to worry about.