Cheers to all!!! Happy New Year and hopefully, 2008 would be a fruitful one!
Market-wise, 2008 should be a good year, at least in the 1st half, based on technical analysis. The US markets (Dow and S&P) and European markets (Dax and FTSE) are forming a 4th wave consolidation triangle. There should be a final 5th wave in the coming weeks, probably in starting the middle of Jan. This should be a very good and tradeable bull rally.
As for Asia, the 5th wave has likely started. The 3rd of the 5th wave is expected to be very bullish. This 3rd would likely coincide with the breakout of the triangles of US and Europe.
So, a strong rally should take place sometime in Jan/Feb... Investors may want to continue to buy on dips... Stay with the uptrend...
Monday, 31 December 2007
Monday, 24 December 2007
Merry Christmas!!
Merry Christmas and Happy Holidays to all!! :)
Tech Stocks - look out for it!!! It appears that the tide is starting to turn. All the subprime issues and recession concerns in the US is starting to have little or no impact on the stock market. The recovery story could be on the way. This could be the start of a new rally into 2008!!
KLCI and STI also has been holding well.. Both support at 1,380 and 3,300 respectively held on very well indeed. Start looking for laggards.. the 1st round of rally is usually led by the blue chips! The the second liners would rally before finally the penny stocks.
The 1st half of 2008 is expected to be very very good!!! BE FOREWARNED!!! :D
Happy Trading into the new year!
Tech Stocks - look out for it!!! It appears that the tide is starting to turn. All the subprime issues and recession concerns in the US is starting to have little or no impact on the stock market. The recovery story could be on the way. This could be the start of a new rally into 2008!!
KLCI and STI also has been holding well.. Both support at 1,380 and 3,300 respectively held on very well indeed. Start looking for laggards.. the 1st round of rally is usually led by the blue chips! The the second liners would rally before finally the penny stocks.
The 1st half of 2008 is expected to be very very good!!! BE FOREWARNED!!! :D
Happy Trading into the new year!
Wednesday, 19 December 2007
Back at work!
Wow... it has been quite a break.. anyway, back to the markets...
The US markets.. hmm.. it fell into place just like what I mentioned back in Nov... It reached the 13,600-13,750 levels before easing. It could now continue to ease to 12,800-12,900, which is the good support for the BULLS. There are 2 scenarios for the Dow and S&P. It seems to be forming a triangle now but a sideways rectangular pattern could also take place. Both are continuation patterns. Hence, the BULL is still intact as long as the Dow stays above the August and Nov lows i.e. 12,500-12,600. Keep a sharp eye on those levels. Last night, the US markets rebounded slightly. Continue to expect a little more downside from here...
STI... is finding some support around current levels, the Nov lows. Indicators still point to lower levels from here.. probably finding its footing around the 3,200 support.. similarly, as long as the index stays above that level, the BULL is still very much alive..
KLCI... 1,380 is the current support level.. should hold here for a couple of days... then it all depends on external factors.. technically, it has yet to see a turnaround sign... so, expect selling pressure to persist for now... however, there are some pretty good looking stocks on the charts... Silver (7136) could run soon.. however, keep a stop at RM0.90 or slightly below.. another stock is MPHB.. stop should be at RM1.95.. Both have more than decent chance of rising in the coming months despite the gloomy immediate outlook for the index.. trade cautiously is still the main idea here...
The US markets.. hmm.. it fell into place just like what I mentioned back in Nov... It reached the 13,600-13,750 levels before easing. It could now continue to ease to 12,800-12,900, which is the good support for the BULLS. There are 2 scenarios for the Dow and S&P. It seems to be forming a triangle now but a sideways rectangular pattern could also take place. Both are continuation patterns. Hence, the BULL is still intact as long as the Dow stays above the August and Nov lows i.e. 12,500-12,600. Keep a sharp eye on those levels. Last night, the US markets rebounded slightly. Continue to expect a little more downside from here...
STI... is finding some support around current levels, the Nov lows. Indicators still point to lower levels from here.. probably finding its footing around the 3,200 support.. similarly, as long as the index stays above that level, the BULL is still very much alive..
KLCI... 1,380 is the current support level.. should hold here for a couple of days... then it all depends on external factors.. technically, it has yet to see a turnaround sign... so, expect selling pressure to persist for now... however, there are some pretty good looking stocks on the charts... Silver (7136) could run soon.. however, keep a stop at RM0.90 or slightly below.. another stock is MPHB.. stop should be at RM1.95.. Both have more than decent chance of rising in the coming months despite the gloomy immediate outlook for the index.. trade cautiously is still the main idea here...