From my earlier posting here
http://wealthbuch.blogspot.com/2009/07/fibonacci-combined-arc-fan-and.html
STI is having the mother of bull runs. However, it certainly looks on track that STI is aiming to hit the triple resistance point at 2680.
In addition, I have loaded on Macquarie International Infrastructure Fund today, with 8 lots at 0.36 and 8 lots at 0.355. I made a mistake for not checking the TA earlier that there might be some downside potential in the short term. However, FA wise, it certainly seems a bargain price. Assuming a poor return of 5 cents per annum, it gives nearly 14% returns per annum! That means I will get back my capital fully in about 6 years. The business is mainly on acquiring infrastructure, and the fund is slowly shifting their focus towards the next economic growth region, Asia. This fits in line with my idea of defensive dividend investing.
I will accumulate more funds to average down if it goes to 0.30, which is about 15% below my average price. Why 15%? This is because I have set myself a rule not to average down long term holding stocks unless it is down at least 15%. I shall try to adhere to this rule as best as I could.
Moving forward, I will continue to channel most of my funds into defensive high dividend yield stocks, while allocating an increasing amount of funds to trading.
Stocks, Personal Finance, Personal Development,
Wealth, Income, Trading, Investing, Business
test4
Saturday, July 25, 2009
Thursday, July 23, 2009
China Hongxing TA
Something about China Hongxing... Shall describe instead of uploading my chart here.
1) Hongxing first hit its 200 day MA on 11 May 2009 at 22 cents before bouncing down
2) Hongxing travels along its 200 day MA from 2nd Jun 09 to 8th Jun 09 before coming down again
3) Hongxing briefly crossed its 200 day MA on 26th, 29th and 30th Jun 09
4) Within this volatile period, Hongxing was still contained within the cloud of the ichimoku.
5) 9th July, 50 day MA crossed 200 day MA, 17th July price crossed 50 day MA.
6) 21st July, Hongxing officially break resistance of icimoku cloud, with the cloud now forming the support.
7) Hongxing touched 0.19 resistance.
8) Parabolic SAR green. MACD positive. Stochastics still positive, but seems like going to cross over soon.
9) 20 day MA coming up to touch 200 day MA, and we need to see if it will touch and cross 50 day MA.
10) Ascending triangle spotted. Break upwards expected.
In short, might expect a breakout from Hongxing upwards...
Caveat Emptor
1) Hongxing first hit its 200 day MA on 11 May 2009 at 22 cents before bouncing down
2) Hongxing travels along its 200 day MA from 2nd Jun 09 to 8th Jun 09 before coming down again
3) Hongxing briefly crossed its 200 day MA on 26th, 29th and 30th Jun 09
4) Within this volatile period, Hongxing was still contained within the cloud of the ichimoku.
5) 9th July, 50 day MA crossed 200 day MA, 17th July price crossed 50 day MA.
6) 21st July, Hongxing officially break resistance of icimoku cloud, with the cloud now forming the support.
7) Hongxing touched 0.19 resistance.
8) Parabolic SAR green. MACD positive. Stochastics still positive, but seems like going to cross over soon.
9) 20 day MA coming up to touch 200 day MA, and we need to see if it will touch and cross 50 day MA.
10) Ascending triangle spotted. Break upwards expected.
In short, might expect a breakout from Hongxing upwards...
Caveat Emptor
Rising Wedge Observed on Daily Chart
Wave counting is getting too complicated. Shall revert back to basics for a while.
A rising wedge is observed on the daily chart of STI
Stochastics has started to cross downwards. RSI is also touching 70.
We will need to see if STI opens below or above the short term rising wedge support of 2470.
However, the resistance turned support line of 2424~2430 should offer some form of support should STI comes down.
A rising wedge is observed on the daily chart of STI
Stochastics has started to cross downwards. RSI is also touching 70.
We will need to see if STI opens below or above the short term rising wedge support of 2470.
However, the resistance turned support line of 2424~2430 should offer some form of support should STI comes down.
Wednesday, July 22, 2009
Alternate Elliott Wave Count
Below is an alternate wave count raised by Milamberz of CNA Market Talk forum.
The chart looks very good, and it shows that we are in high danger of a big correction now.
Be it this count or the preferred count, we are approaching the end of this mega rally.
Will try to adapt this count to STI and post it tonight.
Also, the mentioned "expanded flat" has to be changed to an elongated flat as pointed out by 4dots in CNA Market Talk forum as well. This is because the C wave has over-extend the A wave by more than 1.618 times.
Typically, in an elongated wave, the C wave will extend at most 2.618 times that of wave A.
In short, be very careful and fearful of buying at this moment.
The chart looks very good, and it shows that we are in high danger of a big correction now.
Be it this count or the preferred count, we are approaching the end of this mega rally.
Will try to adapt this count to STI and post it tonight.
Also, the mentioned "expanded flat" has to be changed to an elongated flat as pointed out by 4dots in CNA Market Talk forum as well. This is because the C wave has over-extend the A wave by more than 1.618 times.
Typically, in an elongated wave, the C wave will extend at most 2.618 times that of wave A.
In short, be very careful and fearful of buying at this moment.
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