My Trading Adventure

Banking and Financial

CP TEH
Publish date: Sun, 02 Oct 2016, 12:15 PM
CP TEH
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All the writings in this weblog are mainly for PLEASURE reading purposes. I am in NO position to recommend a call(BUY/SELL). Please check with those know-hows before you make a decision. Yes, I am just a learner, with only five years experiences in KLSE. So, please BEAR with me.
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Morning ... it is a rest-blogging time. Last friday, the selldown was in banking : AMBank, MayBank, RHBank.


AmBank : The defence at RM4 needs to be maintained. Be alert.


MayBank : Closed at RM7.50, we shall see if it will be testing RM7.30 level again ... but the black-candle certainly is not welcomed.

Testing current resistance are : RHBank and CIMB


RHB : Weekly chart

CIMB : Weekly chart

Financial Index showing crossover in stochastic at 80-level again ... for the third time. Range-bound with bearish-biasedness ... be alert.


Finance-index ... can see the highlighted crossover? If you understand what it means ... what should we be doing?

Why looking at financial-stocks?

Yes ... the nagging DB ... potential of collapsing due to their risk exposure in the derivatives-trades. Do read about that as it spelt RISK in financial-stocks ... and generally, financial markets.

For the whole Sept ... I m very reluctant to take any trades as the risk of losing is HIGH.


Perhaps the German-gov would bail them out ... "too huge to fail" kinda statement.


"Germany, which has insisted Italy and others accept tough conditions in tackling their problem lenders, can ill afford to be seen to go soft on its flagship bank, the Frankfurter Allgemeine wrote."

Why Italy?



Remember PIIGS? These group of debt-ridden countries almost brought the recovery of markets (since 2009 Mac) to halt around Sept 2011 ... and we saw the huge selldown in equity-markets globally ... PIIGS ... one of the I = Italy.


Nice domino-effect ... we saw Brexit. Grexit next?



To understand with a joke ... here is a clip for those newbies. This is classic clip. Haha.

Standard Chartered (02888.hk) traded in HKSE ... down by some 62% as of this week, from the peak. WHAT do you think?

Charts don't lie ... they said. THINK.

Have a nice holiday.

TEH
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Discussions
Be the first to like this. Showing 4 of 4 comments

PlsGiveBonus

What happens to pbb steel and Aa?
Cannot short now?

2016-10-02 14:22

bracoli

Mr teh how can we evaluate banking sector?

2016-10-02 14:30

cruger12345

He is a joker lah. When market not good he said he is already out or ALREDY short certain counters. Tell me when did he make any mistake or wrong judgement ? Looks like he said non ... A joke

2016-10-02 14:59

Flintstones

I thought you told everyone to sell everything and wait for crash?

2016-10-02 15:16

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