It looks to me like the market is going through some short term strength (agreeing with another blogger here) and here’s why: RSIs on the KLSE are moving up in conjunction with the market, volumes are holding and the press has been muted regarding this recent strength. I expect that since most players are mesmerised by the upcoming shoulder resistance at 932 and holding off until they see it get penetrated.
So? I expect the smart the money to give things a push beyond that to snare in some more buyers before offloading their shares. And I want to be there when it happens. Standing aside and watching.
July 13, 2006 at 3:01 am |
hey ddog,
love your comment abt the press making noise abt how good the mkt is before it falls, how true. nowadays, when the press or some bigwig says how good the mkt is, straight away my “alarm” will go on. I dont comment a lot but enjoy reading your blog man. safe trading. cheers!