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Poll - Has the bear gone into hiding?
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puntit
Member |
06-Oct-2006 16:00
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Looks like the cattle family is returning to the scene while the grissly beasts take a break. |
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singaporegal
Supreme |
06-Oct-2006 15:24
Yells: "Female TA nut" |
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I think allantanhc is right. Reading the Bollinger Bands and the RSI of the STI index, its definitely on an uptrend now. Also, the trading volume is pretty healthy approaching 1 billion shares traded. This is unlike the sleepy 500 million shares traded 1-2 months ago. CONCLUSION - The Bull is awake! |
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allantanhc
Veteran |
06-Oct-2006 11:24
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Chart wise, based on yesterday's closing, Dow, Nikkei, HS and STI all showing bullish signals. My reading of the charts is that Nikkei is heading towards 17500. HSI is heading towards 18100. STI has the potential to progress towards 3100 when the resistance at 2667 is cleared. Dow is in uncharted territory. While these are all looking positive technically, there will be corrections along the way. Overall at this point, Bull has won I reckon. It is also to be noted that so far the rise in prices are not broad based, propelled mainly by banking and property counters. It could mean that there are opportunities in the laggards and second liners. China stocks are seen moving today. Tech stocks should move too as their earning results to be released over Oct/Nov should largely be positive. |
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tanglinboy
Elite |
06-Oct-2006 10:01
Yells: "hello!" |
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I say that if the rally continues to mid-Oct, I can safely say that the Bear has gone to koon and the Bull is awake and charging! |
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