Straits Times Index   

STI to cross 3000 boosted by long-term investors

dear all,

thou i have mentioned i dun feel that this bear is real as mentioned below, however it is still better to follow the rules. the rules is to sell on rebound for a bear market, till this market has proved it is not a bear. with the bouce off the 3300 level, based on 1 hr chart it is a bullish triple bottom hence STI climb abit. however daily chart is still bearish, till the daily looks ok and the this weekly candle close as a bullish spinning top, i still deem STI as bearish. just my personal view

 

cannot believe STI in Green .....when US last nite LS....... any way Green is good.

 

Maybe got the "help" from HSI...closed 1.9% higher...not bad for a day...

 

wat a rebounce from sSTI... wondering wat's de push factors..

 

cashiertan, objectively speaking, if we just to view it from the charts, it is very bearish technically. DJIA closed below it's Aug and Nov support closing levels with heavy volume. I suppose sentiment often lags behind price action seen in the charts. I agree with you that the sentiment dun reflect what is intepreted from the charts. In fact, I find it strange and weird that though the charts tell me this, a quick glance at the major forums like CNA shows that sentiment is still not bearish. I base my view on what i see on the chart only so that i can have a objective view.

 

The trendline supporting STI last few days has become the resistance today. let see if STI can break it and close abv it today...

 

traderstudent, that is one of the reason i mentioned i cut lost becoz of rules but my mind think something is not quite fit the picture. the current sentiment is not as bad as the chart shows or isit becoz we are not the general traders.. seriously is the sentiment that bad as the news posted? i dun feel it myself or with colleagues and frens. the are still spending as norm..

 

is opportunity to take profit now as shorties are scrumbering to recover their position

 

DJIA breached it's November support level on the latest closing with heavy volume. Looks very bad to
me. But it seems that the current sentiment does not reflect wat i see on the chart. Anyway, U can check out the chart here.

 

Hey, isn't it great to see Elfin pop in? ...

Feels good... hehehe..  

 

likely to have shortterm tech rebound but be careful; cashiertan is right: the trend is established as down already.

 

I am waiting for Victorf's call......... :)) 

 

no capricorn... now we have to wait for CNY and Budget Speech at the end of Feb.

 

Look at the bright side, at least the trend is confirmed for the moment. trendline broken, support line brokem weekly trend line broken. technically in downtrend.

 

Paulson Says There Is `No Evidence' Housing Decline Is Ending


By Kevin Carmichael

Jan. 8 (Bloomberg) -- Treasury Secretary Henry Paulson said the housing decline is far from over.

``There is no evidence it is bottoming,'' Paulson said today on CNBC television during a trip to New York. ``The evidence would be that it has further to run.''

Paulson said yesterday that the ``overhang'' of unsold homes poses the biggest risk to U.S. economic growth. Sales of new homes fell to the lowest level in 12 years in November and may be headed for the biggest annual decline since 1963.

Still, Paulson said ``there's not a lot of evidence'' that the decline in housing was spreading to the overall economy. He said President George W. Bush hasn't decided if a stimulus package is necessary to avoid a recession.

Paulson repeated that he thinks a ``strong dollar'' is in the nation's best interest, and that its value ultimately reflects the economy, which is continuing to grow.

To contact the reporters on this story: Kevin Carmichael in Washington at kcarmichael@bloomberg.net ; John Brinsley in Washington at jbrinsley@bloomberg.net Last Updated: January 8, 2008 08:42 EST

 

tks cashiertan.. your timely advise is always good for me.

Cheers..

 

The Weekly chart look oversold at the moment, however as we learned from the recent dips, what is oversold could remain oversold (weekly chart) for a long time in a down trend. MACD is turning down, stoc still look like it can still dip some more however, dun be too bearish anything can happen in stocks. now just need to do what u need to do, cut or hold, u decide carefully.

 

lucky took some profit and cut some lost yesterday, now have to see how tomolo fare and how DOW fares.

With the uptrend support broken, i expect STI to dip to the Aug Low to test it. It seem to be the last line of defence till a Bear Market.

 

Scary.................................. I  m Cing Cs of RED.

 

Sry

Wrong Post. It's for ascott