Falling market

Upon reading the papers today and contrasting with how the markets are doing recently, i must say that it is really ironic. Why ? Cos the papers have been reporting that unemployment rate is at a record 5 years low and the economy is doing well but yet the markets are doing badly. Well, the stock market is an early indicator of how the economy will be doing so i guess there will be more news to come.

Since school is starting in 2 weeks time and the markets are doing so badly, no point in looking at the charts of various counters, so i picked up another book to read. It is called 'The secret of selecting stocks for immediate and substantial gains' by Larry Williams. I must say this book has been interesting so far. It is not those run of the mill kind of TA books where they teach u about chart formations which can be found in any other TA books. He offers a new kind of perspective about trading and talks about how he formulated his own technical indicators. Upon reading the 1st few chapters, i realized that the A/D (Accumulation/distribution) line is a refinement of the On-Balance Volume (OBV) technical indicator which i have already found it quite useful in detecting accumulation and distribution. So i will be testing out the A/D indicator for the months to come. Anyway Larry Williams really walks the talk as he won a recognised nationwide competition and he turn i think $10000 to nearly $1000000 in 12 months time and his daughter did the same thing too ! Amazing stuff man :) Think wikipedia has quite a lot of info on him.

Anyway, Dow broke the support of around 13250 and STI failed to make a higher high this time round.