If you have SHORT according to this morning recommendation, it is time to take profit. High volume down bar with closing in the middle could indicate possible retracement. In addition, 1120 is the near term support.
However if you’re intermediate term trader and intended to carry trade overnight, you could do so today. The next support line will be at 1110. Be prepare to old on the trade for a couple days. DJIA rebounds could bring up the price momentarily, but not for long.
You Should Also Check Out This Post:
- Bursa CPO - Possible Reflection Point
- Bursa CPO - This is the reflection point
- Bursa CPO - it is just too weak...
- Bursa CPO - lossing strength..
- Bursa KLOFFE - Still looking at short
More Active Posts:
- Bursa KL Composite Index Monday 14-July 2008 Outlook (2)
- KLSE Stock Tips: Petronas Dagangan Up Thrust After Profit Announcement (2)
- Bursa CPO - Short..Did you? (2)
- Stock Review: YTL Power Berhad (Code: 6742) (1)
- Bursa KLOFFE - Time to go for short term trade (1)
- Stock Review: Public Bank BHD (Code: 1295) - Accumulation Stage! (1)
- Penny Stock Tips: KUB Malaysia Berhad (1)
- Bursa Stock Tips: Ramunia - Buying Opportunity - STOP LOSS @ RM1.60 (1)
Loading ...
David Kong
As per discussed in the post, the KLOFFE rebounded back to 1130 towards closing after the DOJI bar. Subsequently, DJIA has a big bounce back yesterday. For those that have not exited yesterday “SHORT” trade, you have observe today’s market closely. If the market does close higher than 1147, then you have to cut loss. You have to manage your risk according to your profile.