Two nites ago, i receive a phone call from the Lord of the Ring, he spoke only 3 words "Time to Sell".....i posted it on facebook, and this morning i woke up i was "Wowed by his accuracy!! so today I have decided to form a Fellowship which consist of me, me and me, three person.......vs the Witches(Dow), Alchemists(Nasdaq), Durids(S&P),Wizards(HSI) & Merlins(STI) and of coz my dear honorable Banshees, she will always arrive when the market needs a correction..........
okie now projects on hand......besides charting on this blog, i going to introduce a stock filter for Merlin Mkt in abt June....the process is long as i asking a friend to help coz i dun have the monetary resources to ask professional to do it........parameters are all set by me which i have take time to fine tune it in the process of getting the best for SG equities......
all rite nothing much to chart abt today..........Flight to safety is the theme of the week.......Banshees hasnt really come out for Witch Hunt just yet, but its soon. my guess is when everyone expect to have a qtrly dressing, the banshee will come for the undressing!! Watch the USD index or the %DX, 81.21 is a pt of breakout and Breakout it did!! 82.095 was the last reading.....with portugal downgraded, euro likely to be hammered.......then spain, ireland and others.....
Scenarios using the dow for correction
higher Low- above 10k, we should see new high with lots of sideways trading
lower low- below 9820, double dip which will bring us back to abt 8500 before base building.......
Asia mkt will likely to follow suit, except for Japan coz dollar up yen down meaning exporters are good...so with the strong dollar scenario, Nikkei 225 will likely be a top performer for indexes........
As for the Merlins of STI, the gap at 2791 look inevitable to be closed so that will be the Pivot pt down to test the 2680 bottom of FEB!! during the way down to 2680 from january, selling was in decent vol but on the way up to the current peak of 2930, vol has been sucky and breadth is like sissy, the que to whether we will break the 2680 depends on the vol of selldown, if its heavy i think probably we will visit the 2626 gap!!
Cheers have fun,
Ps: watch out for Vix to bounce of historical lows!!
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