Back with a vengeance


Just when you think the market is winding down for the next major festival , the lunar new year,
it came charging back with lots of help from the current favourite,Alam M.It goes to show how
unpredictable the market can be and the importance of solid market moving news..."Mirror"
O n G counters no matter how remote they are to the type of business Alam is in ( other than being in the same sector or has a "oil" sounding name ) soon took cue from it and moved aggressively in turn.

Keen eyed traders would have spotted the trend and probably made handsome gains today. The beauty of itall is that other than being alert and quick to the draw (pun intended ) no knowledge of fundamentals or technicals is needed .Perhaps a quick hand and  plenty of guts may be helpful. 

The broad market recovery also brought cheers to other sectors like property and some third liners..
That said, players have become more market savvy the last few years...most take on a very short term
view,"stretching" from a few minutes to perhaps a day or two and if given an opportunity would love to square off all positions within the same day.Gone are the days where the "long white candles" provide
solid assurance for a prolonged rally or up trend. 

There is a light hearted joke ( which unfortunatelycarries some truth at times ) that says when you catch an up trending stock be ready to skip your toilet break lest you end up catching a falling knife ! Then again there are always exceptions especially among the higher quality stocks and where the goodies have yet to be announced...
 

Let us all hope the feel good market will linger for awhile.

Thank you

Chris Choo
http://traderight88.blogspot.com

chrischoo007@gmail.com