Lately, it seems that bears are getting exhausted. On Monday, expect that
bulls will again take over the market and push some prices higher. However,
I think that bears will still have their final push downward this week
(maybe higher low?) before you see the rampaging bulls. Take advantage of
any market weakness(maybe on wed or thurs). I think that’s the time to pick up some battered stocks?
Watch the fires burning across the river (traditional Chinese: 隔岸觀火;
simplified Chinese: 隔岸观火; pinyin: Gé àn guān huǒ)
Delay entering the field of battle until all the other players have become
exhausted fighting amongst themselves. Then go in at full strength and pick
up the pieces.
– one of 36 Chinese Stratagems
immediate resistance 70-73
Price of OIL are now near 2 year lows. Remember that we are waiting for the final investment decision for Galoc Phase 2 this June.
Selling near .048 is already a potential 14.3% gain.
One of the most battered index stock might continue its uptrend movement. Usually, TEL gives dividends on August, so expect that there will be announcement of dividends next month. Good for medium-term holders, position traders and dividend players.
With RSI at its low and prices retesting the previous low, I think it’s good to position on this stock. (medium term play)
watchout for break of downtrend channel as it might retest its previous high near 65. A sell at 64 is already a gain of 14.3% from its current price.
JGS – Flag
Might retest previous high. TP of one brokerage firm here is 39.90.
seems like 1.90 holds a strong support. This is the 3rd time in a month that it retests it support at 1.90.
for position traders
a retest of previous high will give you a potential profit of 12.2% at 4.60
Nickel(the metal) is now trading near 3 year lows.
Last 2 days of volume are suggesting that it might retest again the 35.
Repeat from my previous post: If it will break 25, we can expect the price to reach 28.
SCC – for risk averse and patient traders
on CAL. despite the hype on social networking sites, you should know by now that CAL is not moving because of value play(FA), this is a jockeyed stock. Jockeys took advantage of TA as RSI will only appear on its 14th trading day. As I’ve said to my fellow traders/friends, if this is really a value play, then you will see Deutsche, ATR, UBS, JP Morgan, Macquarie on buying side.
One FM guru already posted there that “you will never see the SUN selling.” Maybe not now 😉
This is not a solicitation to buy or sell. Just assess first your risk appetite before making a move. Don’t be a victim of getting-left-by-a-train-syndrome.