Friday – 12th December 2008
8.00 a.m. –
Is it true to say that, recently, the world’s equity markets have shown some positive indicators regarding the direction ? Will the market be going up again? How about the next year’s performance? Too early to say, don’t you think so?
Yesterday was the day when
Today
In short term, the market is bullish so is the very very short term.My forecast is as follows;
1) If the market opens between 1646 to 1656. Buy after the market has moved up passing the levels between 1660 to 1667. The market may go up further if the levels between 1700 to 1708 are broken. Be careful of false alarm and remember your stop loss.
2) If the market opens between 1626 to 1636. Sell after the market has passed down the levels between 1615 to 1622. If this happens, the market may fall further down and a black bar may be formed today or at least in the early part of the trading day.
3) If the market opens between 1600 to 1625. Sell after the market has moved up a bit and then falls 5 points below the opening level. If the market manages to beat down the levels between 1568 to 1575 ( Swing strategy ), the market may fall further.
4) If the market opens between 1636 to 1646. Buy after the market has moved up passing the levels between 1660 to 1667. The market may go up further if the levels between 1700 to 1708 are broken. It would be more significant if the market opens more towards the upper side of the 1636 to 1646 levels. On the other hand, sell after the market has passed down the levels between 1615 to 1622. It would be more significant if the market opens more towards the lower side of the 1636 to 1646 levels.
5) If the market opens between 1658 to 1681. It is your call but I think the market may go up but may reverse if the level 1700 is not broken. Any way, if the market manages to beat the levels between 1700 to 1708, the market may set to go further up.
6) If the market opens above 1700. The market may go up further.
7) If the market opens between 1580 to 1624. Sell after the market has passed down the levels between 1568 to 1575.( Swing strategy )
8) If the market opens between 1556 to 1580. Sell after the market has gone up a bit and then falls passing 5 points below the opening point.
9) If the market opens other than the above. It is your call, I would just be blank.
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10) Please refer to # 9 ( see Thursday’s Tip dated 26th June 2008 )
11) Also refer to # 9 and # 10 ( see Tuesday’s Tips dated 1st July 2008)
Well, that’s about it , Mike. If you are not sure, just contact your broker/dealer but not your dentist. He has a bad smell!!!
Have a nice trading day!
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