The mkt produced another spectacular run today, lead by HS. CIT avoids bankruptcy, commodity strong, HS’s property shares surge, re-rating of HS shares by foreign bank, confidence in China economy grows. I guess…. a list will just grow out of nowhere everytime there is any major movement up or down. Bottomline , mkt is bullish. Period
At this point, it does seems like the mkt will not give up till it reaches the 1060-1065, the peak in late July 2008, which is also the major top before a slide towards 830 last year.
Sentiment is so bullish; probably it will take like two days of weakness before active sellers appear. If you have no long, give this trend a miss, wait to re-enter long when a pullback.
At this point, it does seems like the mkt will not give up till it reaches the 1060-1065, the peak in late July 2008, which is also the major top before a slide towards 830 last year.
Sentiment is so bullish; probably it will take like two days of weakness before active sellers appear. If you have no long, give this trend a miss, wait to re-enter long when a pullback.
The upper band the uptrend channel is probably a good indicator to gauge mkt momentum in the coming days.
No comments:
Post a Comment