Saturday, June 25, 2011

Thoughts after selling

It seems that I sold off Noble too early. I could wait for rebound before clearing off position at day low. Anyway since I executed as planned, I am not that wrong too. What if Dow never recovered the -2XX that night? What if it was a straight away gap down breaking support? I rather be conservative.

Apart from the weakness I sense in Noble, I just see STI charts yesterday and sense that things have not turned around.
Yesterday I read and will translate in summary here. When stocks are going up and suddenly met with falling prices and gap downs (which was 2 weeks ago) and rebounded sharply in a V shape. This may be the last struggle of the index, we are meeting times of increased volatility, market feelings mixed. It may not be that bad just to keep in mind.

STI downtrending. STI must break 3070 with good volume for me to be convinced that we are going up or this may be the fast transition to a bear market? I am not sure though lets observe. Things are not looking positive imho.

At this point supports are still holding, if supports re- broken again which is within quite a short term frame, all hell break loose.

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