Resilient? Not too sure… looking at profit taking from 1115hr onwards
Good Morning Readers,
We are looking at the market to trade slight higher in the morning before another bout of profit taking to start coming into the market after 1115hr onwards. (as of writing, it is 1040hr). The selling from 1600hr yesterday was not just due to the News from Europe. It was a widely expected one.
Look out for HK Future. Breaking below 20500 will be signal for today’s selling.
Traders can still choose to buy if they believe what they are seeing is considered resilience but in my opinion; the game for this round is over…
Kindly note, we are still bullish in the market and expect more upside for 1st half of 2012 but no market moves in a straight line therefore a healthy correctional profit taking phase will do good for the market as investors must see confidence and support after the selling is over.
Iev, if fail to close above 84.5cts… it is time to book out….
V3Go Graduate continued to add shorts on Genting, Noble, Cosco, YZJ and the Bank counters.
Kelvin Han
V3Go Chief Tainer
Read more: Did You Trade