Follow up on my previous post on 1st June mid night:
1) I mention that it is hard to trade best to keep 70% cash, that day was the recent high STI hit 3181(resistance), if you have kept cash, today STI closed 3102(support) you should have money to buy some good stocks or Short some bearish stock.
2) I mention that the 3 popular stock is at risk of being short down Sunvic, Osim, Sembmar
- Sunvic went to the low of 0.73 next day after my posting, at the point of writing it was closed 0.78
- Osim was down to the low of 1.49 today! at the point of writing it was closed 1.67
- Sembmar was down to the low 5.19 at the point of writing it was closed at 5.33
At this point of time most people will ask what is the direction STI heading to? Currently STI still in the danger position as today it trade in a narrow range, although it is hanging at the 3100 support, if the support fail to hold we can go down further. The STI is currently below 20/50/200 Moving average, it show that it is downside bias and we should be worrying now even though we are at support level, hence play Defensive not Offensive. Be bullish when all the big stocks start moving up, meanwhile what you can do is to prepare when market starts to move. What bullish stock to buy if market goes up? What bearish stock to short if market goes down? If you are in my newsletter mailing list, we mentioned a few recently.
Cosco Corp closed 1.85 today, Following up my previous post you should be in the money already. As mentioned 1.80 is support level, we should take profit when . Short more if the support doesn't hold. Stoploss 1.91, reduce position if STI turn bullish
Genting closed 1.97 today, it is in a very obvious down trend momentum, currently on a sideway consolidation. IF it move down lower(break previous day low) it might visit 1.87 again, good candidate for shorting. Stoploss 2.04, reduce position if STI turn bullish