Friday, 16 December 2011
Will STI bottom at 2640??
After my last email, Dow Jones and STI began a 5 days slide. Dow Jones drop 300 points while STI drops 150 points this week.
Some of you ask: How is STI now? Let us look at the STI chart in the attachment.
From the chart, you can see that there is a Box pattern forming: Box Top (resistance at 2910) Box Bottom (Support at 2640). The fall in October to 2530 is what Mr Hu Li Yang calls an Untidy Box re-arrangement. It suddenly drops too much out of the box. If it falls too much, it will rise back up again. A Tidy good Box re-arrangement has a time period of at least 3 months.
So based on Mr Hu Li Yang's teachings, how is the STI now?
1) Look at how the STI is these few days. Especially these 3 days. See if it drops off 2640 without climbing back. My opinion is if it drops off 2600, it will go into another box with bottom at 2400.
2) If STI climbs above 2640, and makes a good run off 2640, this figure will hold, and STI will enjoy a run up to 2910. Of course, 2800 is still a small resistance. It is the 50% mark between 2910 and 2640.
Btw, US data continues to show great reports with good Jobless claims report and improved manufacturing data. Good news amid the darn Europe problems.
After the last email when I indicate a case study on a stock: China Aviation Oil. I have again attached its chart for us to study. It has gone according to what I say. After breaking $1, it may test $1. In fact it keeps on hammering $1 these few days and has shown remarkable resilience at $1, even when STI drop so much this week. This is the type of stock to watch closely! Let us see if it flys when STI rises...
Btw, I would be giving a FREE seminar on <Singapore Stock Training Course>.
<Please let your friends know by forwarding & emailing them to come for course to get them educated! Thank you!>
Date: 23rd Dec 2011, Fri Time: 2pm - 5pm (Chinese) (30 seats available)
Date: 27th Dec 2011, Tue Time: 7pm - 10pm (Chinese) (FULL!)
Date: 4th Jan 2012, Wed Time: 7pm - 10pm (English)
Venue: 141 cecil street, tung ann association building S(069541), tanjong pagar MRT exit G, walk straight 80m, opp traffic light
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(Pls note that this email is solely for educational purpose only. There is no recommendation whatsoever to buy any stock. Any stocks or position taken should be studied carefully before taking any positions.)
Posted by DL Investment at December 16, 2011
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