But is that really the case?
Volume was still rather low. MFI hasn't broken new highs (I use MFI instead of RSI as it takes into account volume as well).
The CCI is also crossing the 100 mark.
STI is approaching 15 years resistance line at 2755, as calculated earlier by linear regression.
Selected fresh longs should have been collected last week, not today. Example, my Starhub collected at $1.88 on 4th Nov 09.
It just feels so right, yet so wrong.
I really wish I'm wrong, and the rally goes on forever towards STI 4000; I still have some counters stuck in the red. But in reality, can this be achieved without any significant correction? I doubt so. What goes up, must come down... this is a law of nature.
We are entering dangerous waters now. Tread the treacherous path with care.
Why would you have many counters in red ? minor red only red ? coz you look like you know your stuff well
ReplyDeleteHi Fishmonger,
ReplyDeleteit's because I did not practise discipline in cutting early those in the trading basket. Knowing TA or FA doesn't necessary translate into positive earnings as my money management skills are not up to par. I will be going for a free course this Sunday on volumes, support and resistances (as revision) and money management, organised by Chartnexus and free for new Philips CFD clients :)