29th August 2007

Another day of red in the opening, and I was still awake at 2am to see what was the result of the fed's report which unfortunately came negative towards the market. In the end, US markets close close to a near 2% drop. As I didn't have time to analyse the movement for some of the stock counters in STI, but as far as I can see for the yen carry trade and rising oil prices, it doesn't bold well towards the market.

Nikkei closed with a negative 1.82%, most likely affected by the strengthening yen dollar, which was 114.05 where I last saw it in the morning. Now, HSI has fall close to a 2.75% drop, which is around 649 pts!

I do strongly recommend people to watch inthemoneystocks.com for his analysis on the US markets, as it provides significant understanding during their intraday trading, since I doubt people will stay overnight to actually monitor the patterns.

http://www.youtube.com/watch?v=SgBFuodEULg

As for yangzijiang, as it hit the 0.618, it should retrace back to the 50% mark, which I should predict that it will close around the $1.82 price.

Until this point of time, STI is showing some similar signs as NASDAQ.



I just spent 5 minutes to indicate some stuffs, which the morning started with heavy volume of selling, which is till now, the highest volume for the day. As it is trending up, the volume is not even half of the initial volume! To me, I feel dangerous as the thin volume is pushing up the index! In this case, I would say that the lowest it go is at around 3250 as indicated, and if the candle closes below that point, more falling is expected. So, be safe, not sorry. :) The money is always there, so don't worry!