Hello everybody..... this is my first posting this year, the year 2010. I feel like being away for a quite time. Almost like a year ; i.e. from 2009 to 2010( a year, right?). At certain point, I feel like wanting to end this blog simply because I feel quite tired of it especially if my forecast is 'out of the way' but the most important of all, I am not sure if there are any viewers, at all, out there. Anyway, if I am to continue, this year is going to be my 3rd year I am operating this blog. Just wait and see.
The market ,in long run, is still bullish but the very short term now, the market is bearish. The forecast;
1) If the market opens between 2601 to 2611. Sell after the market has retraced passing down the levels between 2590 to 2595. More significant if the market opens more towards the lower part of the 2601-to-2611 levels.
2) If the market opens between 2620 to 2634. Sell after the market has moved up passing the levels between 2640 to 2648. More significant if the market opens more towards the lower part of the 2620-to-2634 levels.
3) If the market opens between 2612 to 2619. Sell after the market has moved up between 10 to 15 points above the opening level.
4) If the market opens between 2580 to 2600. Sell after the market has moved up a bit and then falls 5 points below the opening level.
5) If the market opens other than the above, it is your call.....
6)There are also a few other factors that you should consider here ;
a) Do not forget your stop loss. It depends on the volatility of the market. In normal circumtances, the stop loss should be from 10 to 20 points.
b) Lock up the profits as you see one, the market may go against you at any time. Practise stop gain as well.
c) If the market opens and moves up/ down in a very fast, steep gradient and also in a long volatility line from the opening level, the market may proceed further. If the 'distance' is not "that long", it could be a false alarm. If so, you can look for a second attempt.
d) For the best result, after opening, the market moves up / down a bit and then moves up /down passing the opening level to the intended forecasted level.
e) The strategy applies only after the opening hour, it may not be suitable later than that, probably not later than 11.30 a.m.
f) If, after opening, the market moves up / down in a very fast, steep and in a 'long line' without moving up/down back to pass up/down the opening level, the market may give a signal that it would simply continue its direction
g) The word " bit" is relatif, please refer to my previous postings ( I am not sure where now)
If you are not sure...just greet anybody whom you meet by wishing them a Happy New Year...Don't worry, it is still not late.
That's about it.
Have a nice trading day guys.....