Tuesday, February 24, 2009
Tuesday - 24th February 2009
8.30 a.m. - Malaysian Time
8.45 a.m. - a little bit of updating
For the past 4 trading days ( last 4 bars as in the chart ), the market has been linggering between the levels 1830 to 1895. In normal circumtances, the market is said to be in the sideline phase ( please refer to my previous postings - sorry, I cannot remember where ). In this situation, one should be in the position to sell where he is supposed to buy and vice versa.
In long term, the market is bearish and in the very very short term, the market, as I pointed earlier, is in the sideline. My forecast, in brief, for today would be as follows;
1) If the market opens between 1882 to 1892. Buy after the market has passed up the levels between 1896 to 1900. Any profits, just lock them up quickly as the market may fall .
2) If the market opens between 1861 to 1871. Sell after the market has passed down the levels between 1852 to 1857. If these levels are broken, the market may fall further.
3) If the market opens above 1901. (The market may go further up especially if the market moves up in a very fast and steep gradient immediately after opening). Buy after the market has fallen a bit and then moves up 5 points above the opening level.
4) If the market opens below 1819. ( The market may fall further especially if the market moves down in a fast and in a steep gradient immediately after opening ). Sell after the market has moved up a bit and then retraces passing down 5 points below the opening level.
5) If the market opens other than the above, it is just your call. If you feel like entering the market, just do it, man. If not, just stay away or may be do something that is useful, do not waste your time. Time is gold ( no wonder gold is expensive nowadays).
6) Please refer to # 6 ( 12th January's posting )
That's about it. If you are not sure, just contact your broker/dealer, never to contact your banks. They are loosing money everyday now !
P/s Israel is planning to annex 1200 hectres of land in Gaza for its housing development. They say the land belongs to them 3,000 years ago. Can you really beleive that? Well, USA belong to the Red Indians 300 years ago. New Zealand belong to the Maori 250 years ago. Can they claim that in this century?
Have a nice trading day, guys!!!