Thursday - 29th January 2009
8.45 a.m. - Malaysian Time
9.20 a.m. - A little bit of updating
The market for the past few days have been juggling and, some say, it is in the consolidating phase. It also means that the market is in the situation of having no clear direction. The market may start to move to a clearer direction if a certain level is broken out, most probably if the market opens below 1750.
In long and short term, the market is still in the bearish situation. So is the very very short term. The forecast for today;
1) If the market opens between 1782 to 1814. Sell after the market has moved up at least 7 points after opening. Make sure this 7 points and above do not beat up the level 1814. Do not forget your stop loss. If the market manages to beat up the levels between 1815 to 1821, the market may go further up. Any profits, just lock them up.If the market manages to beat down the levels between 1773 to 1778, the market may go further down.
2) If the market opens between 1757 to 1781. Sell after the market has moved up a bit and then falls 5 points below the opening level.
3) If the market opens between 1815 to 1840. Buy after the market has dropped a bit and then moves up 5 points above the opening level.
4) If the market opens below 1750. 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.
5) If the market opens other than the above, I do not know guys, it is your call. I still cannot figure out on how to enter the market even in this new year, may be next year, I guess.
6) Please refer to my posting dated 12th January 2009 ( see # 6 )
Well, that is it. If you are not sure, just consult your dealer/broker.......never to consult the Vice President of USA, he is a hard core Jew, never compromise with others.
To those who celebrate Chinese new year. Happy Chinese New Year - sorry, a belated one - better be late than never.
Have a nice trading day guys!!!!