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| Tuesday, November 13, 2007 |
| Current Trend |
What we see in the weekly charts in most counters is that it is undergoing a retracement/consolidation (duh!). But the positive to take is that we might be seeing a flag formation in most counters. While I am not a big fan of price patterns like double bottom etc, the psychological impact of such trading behavior is important.
The low in August is just a few months ago. Memory is still fresh and I feel those that vested after the crash would have that level as a psychological support. Thus maintaining that level is very important as confidence will be severely dented if it goes below that level.
At the moment, we are seeing low volumes for most counters and general trend as been decreasing for volume, together with price. This in my opinion is healthy correction.
The correction will most probably last a few more weeks and maybe next week we shall see the light at the end of the tunnel. We however, should not keep our hopes too high. As it could signal a start to an economic slow down as well. |
posted by Nenix @ 12:41 PM   |
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| NenixDreams Fund |
| Fund launchprice on 1st August 2006= $1
Target for 2007 = Beat STI index
Current price of NDF as of 1st Oct 2007 = $1.58
Current price of STI as of 1st Oct 2007 = $1.54
Difference with STI index is 0.04
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