Thursday, July 5, 2007

Markets showing weakness

Now i guess we are in the phase of rebounding from the correction. The problem is this rebound seems to be weak. Looking at Dow Jones, a higher price today reached yielded a low volume which is a sign of bearishness. For the STI, after rebounding from a morning doji star, it failed to penetrate the previous trendline and it close with the same price with a high volume.





I noticed that the construction stocks i been monitoring are showing weakness. Been noticing Yongnam, Lian Beng and CSC which have given me the greatest gain since a few weeks ago, i spotted all 3 forming a bullish reversal pattern. Spotted dark cloud covers and a doji for them today. Not sure whether it is due to the indices. Maybe if the indices can recover, they will cheong up but not that sure cos i never experience this kind of situation b4.

OSIM appear on my radar too. Today got a surge up with a high volume. Haha, not that sure why but dun have to noe la. Now trading at near 0.7 from a high of 2.1. I will carry on monitoring it. :)

0 comments: