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iPunter ( Date: 17-Nov-2010 07:16) Posted:
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Newbies should always remember this:-
The stock market is a very risky place.
"Not losing is already winning"...
The market is a highly fluid place.
A good trader should be able to change his stance from minute to minute -
Having this quality is a must for any trader to survive in the market.
This is is contrast to adopting a staunchly opinionated stance,
in which a lot of money can be easily and quickly lost.
Anyway, Daniel's comments are really more suitable for seasoned and veteran traders.
For the newbies I will still have the same advice :- "do not play shares".
Gaecia ( Date: 17-Nov-2010 02:51) Posted:
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Yeah,just did.Goin to sleep soon.Hv 2 wake up early tmr.
cannotfind ( Date: 17-Nov-2010 04:47) Posted:
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This morning's $2.07 is at the low end of the series of 4 weekly highs between $2.06 to $2.18 following the mid-Sept breakout from the then prevailing $1.85 high and ahead of the latest 4 weeks' $2.28-35 highs. The latter series of highs by no means represent a rounding top formation although they are closely herded at $2.28, $2.29 and $2.35 judging from the fact that Genting managed new weekly highs for 9 out of the past 14 weeks even when it had a sharp 15% correction in Sept from $2.18 to $1.85. Today's $2.07 low meant an 11.9% correction from $2.35 peak and the quick bounce to $2.15-17 shows the counter's trading prowess. This morning's correction took it just under the 23.6% fibonnacci correction mark ($2.10-11) which should act as a reference point for trading chances. Unless the market pulls back to below current STI 3270 support to 3230-50 or lower, Genting should not fall all the way to the 38.2% retracement of $1.95, which is 17% below $2.35. In fact even if it happens, strong bounces can be expected...
abkt999 ( Date: 17-Nov-2010 04:39) Posted:
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Leinadgnow ( Date: 17-Nov-2010 03:40) Posted:
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Leinadgnow ( Date: 17-Nov-2010 02:52) Posted:
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Hi gaecia no offence taken :D ..
im not talking about gsp .. im talking about GAR read below..... and for genting.. my stance still remains... i told you right at the start i read day by day chart giving details on what should theortically happen.. but i never expected that this would happen that badly. .. i just share my information and knowledge base on the charts.. i also did state very clearly.. to NOT buy base on my tech analysis because it's for informative purposes.. and my information was on what you should do if you were holding on to genting shares still and T+3 contra day settlement.. i also did state VERY clearly to not enter the market yet... as it's still consolidating and there has been no confirmation.. I did say to go in at 2.10 IF and ONLY if it opens at 2.07 (none of which was fulfilled) to reach 2.10 and remain there for closing.. read my previous posts and i DID tell bladez to sell off his GAR shares because i'm pretty sure it would drop to reach the MA20 despite the consolidation period (read my blogpost)
For genting just to make my stance v.clear... base on the charting as seen as of 16/11/2010 that is what would happen... the rebounding starting to take place if it shoots above 2.17 moving towards MA20 ( read the post below again) and i never ever told them to buy . I said confirmation criteria is fulfilled . and my genting sp stance remains base on the chart behaviour.. I stick to it. But please read disclaimer I I never said i was a seer..or 100% zun. i'm just for information purposes to explain the charting for you ..
and just curious gaecia.. since when have i changed my stance about genting sp? i did tell bladez to let go of his golden agri.. but i never explicitly state to BUY now.. i even emphasize alot of time to wait first.. wait first.. then go in when signs are fulfilled.. even telling them to not chase after the rebound as i have no confirmation yet.
Lastly.. i knew this would happen.. i hate the feeling of people misquoting me and using my tech to purchase shares and then lose their hard earn money.. i can't carry that burden.... so in that sense i think you are right.. i should refrain from commenting anymore about the position of Genting or GAR or any shares for that matter base on the readings... and giving people false hope and telling you how the market teching was playing out... What people want isn't informative information or explaination or opinions on what the market is like.. what people want is for people to say .. BUY .. OR SELL or be like an analyst and be zun so that they can get a quick buck out of it without having to work and analyze what the other party is saying in order to make their own informed decision.
In that case.. all i can say is good luck and i hope that everyone of us can find our holy grail or holy seer.
Warmest regards.
we need no negative headline news frm Greater China later today in order not to rough ride on Thurs.
Let's recap yup. We hav watched the US sending signals for many consecutive days since last wk. Prior to QE2 announcement there was nary a borderline day, many big gain days. As to how long this bull can run, only the wall street bankers hav the answers. DJIA 11,000 is an impt support.
Be led by the price actions that u see, not blinded by the assumption of trend continuation. TA investment approach is good to follow but be quick to bail when mkt direction violates all technical analysis.
In a bull market there is little resistance, in a bear market there is little support. What's your pick?
Me. i look at usd charts sometimes but not versus euro. u should have deep pockets to dabble in forex & unrelenting stamina, it never sleeps.
Regarding gsp's bullish reversal, why keep changing your stance? Otherwise if unsure can u try to refrain from making remarks like ie. on Tues early aftern u posted bullish reversal signals confirming very soon after 3 days of consolidation with today morning's gap down opening and other conditions fulfilled reversal criteria. Some of folks here will really take heed and go long on genting sp especially near closing 2.09 was a tempting entry prx. What are they to do now?
Its nothing personal against u Daniel. i did not buy any counter on Tues.
Leinadgnow ( Date: 17-Nov-2010 02:14) Posted:
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