Thursday, May 24, 2012

Market going down further?

More short signal for tomorrow(shown on the pic above), so far the signal has been profitable. The market continue to fall unexpectedly, when comes to Shorting most will think it is too low to short/ too late to short.  As the old saying goes like this, "the trend remain the same until it change". We haven get any sign of turning yet. Highlighted a few of the more trendy stock in above pic, those are my preferred stock for shorting. Will keep a lookout tomorrow to confirm the direction, to enter you need to wait for the price to break below previous day low. If it gap down a lot, you might want to reconsider.

STI Outlook on weekly chart, we tend to have some support by the trend line at 2780, IF STI stay above this level on friday, we "might" see some rebound next week