Shanghai down 200 points!!!

Dow futures -50
Shanghai -230
HSI futures -460

Nikkei futures -40

I be buying, but waiting for the right time.

Dow futures -82
HSI futures -755

Anyone want to sell me kinsteel?

No i am not bullish, i am just doing swing trade.

Kinsteel rocks

The US dollar index is testing resistance aka previous support. As you can see, the SPX is trying to test the inverse h&s neckline with RSI at 50 which shows tremendous support.

Like i said, this is a bull market, rather than a bear market rally. The main reason is,
Investors want the market to drop so they can buy before its too late. Those investors are "underinvested". So believe in your analysis, oil dropping at 4 dollars are a reaction of euro dropping like a rock along with a bearish inventory.

Good thing is, China will reduce fuel prices.

DB, i am not too sure if you received my newslettter yesterday but i did say its better to stay on the sidelines and wait for dips to long.

If you want to contra, you should wait for the price to fall close to near 10 sma, then purchase and then sell at 3 sma. (Applicable on high volume stocks only)

August 1st is Chinese PMI, so be very wary tomorrow and friday.

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Added on July 30, 2009, 12:32 amWill it be useful if i hold a technical analysis class for stocks and futures held at OSK HQ?



This post has been edited by AdamG1981: Jul 30 2009, 12:32 AM

DB,

IT's all about buying when there's a panic selling, such as today when shanghai crashed. That was a good opportunity to daytrade some high volume stocks. For Tanjong, it's all about your timeframe, how long do you want to hold and do you feel comfortable buying at that PRICE?

Here are some tips that might help to identify a dip.

Contra play requires a very capable technical ability to identify short term oversold base on the timeframe you are using. Since contra is T+4 for some, it is highly advisable to only purchase stocks when 4 hr chart is oversold, with possible candlestick (inverted hammer, hammer, doji, piercing engulfing) Please use 2 technical indicators the most with moving averages as support and resistance.

IF you are a pure chartist, support and resistance or (SR) and trendline are useful to identify possible entry and EXIT points.

IF i do hold a class, i will explain this in further details.

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Added on July 30, 2009, 12:52 amDB, if you don't do contra, please focus on the weekly and daily chart patterns, or technical indicators.

This post has been edited by AdamG1981: Jul 30 2009, 12:52 AM

I have sent out newsletter this morning issuing a call to buy, as i can see 1200 coming due to dow's and spx strength. Please check with me if you don't have it.

As for KNM, yes, i will buy on dips and keep it but for contra play i will watch oil prices. My TP still remains at 1.00 for my remaining shares.

Will China crash or recover?

Better watch the steel sector as China going to report PMI soon.

China up 29

SSEC +46...

Really crazy

Please watch the three lions carefully.

Tak ada.

I bought couple of commodity stocks calls.

Shanghai stock exchange.

Naz, do you mean mortgage API?

Buy on dips..

Omores, you didnt receive my MSN MSGS?

Watch UK HPI (housing prices) due out at 2. If better than expected, dow futures and FTSE might rally.