Every Breath You Take. The Dean Glenn Hubbard's Parody on Ben Bernanke

Trading Ideas. MBSB

Previous posts on MBSB - failure on the pennant breakout. Since then MBSB has been on the decline. Me thinks MBSB is worth a look now in view of the decline and the current price formation. Anticipating U-turn up.

Proposed entry - 1.26 - 1.30
Stop - S3 - 1.240
S1 - 1.26
S2 - 1.22
S3 - 1.20
R1 - 1.30 (*)
R2 - 1.35
R3 - 1.39
On daily charts : Rising MACD, rising stochs

Trading Idea. Sapcres

Proposed entry - 1.47
Stop - between S1 - S3
S1 - 1.46
S2 - 1.43
S3 - 1.41
R1 - 1.49 (cluster)
R2 - 1.58
R3 - 1.72
On daily charts : Rising MACD, rising stochs, rising volume

Trading Ideas. AFG

Hammer / kangaroo tail formation on closing of daily charts (27/11/2007)

S1 - 2.8/2.81
S2 - 2.76

R1 - 2.94/2.95

60 & 30 minute charts - V formation on price. Rising stochs & macd.

Possible pivot formation on daily charts?

Trading Ideas. Sinopec-C1

For short term trade.
Looking at Sinopec-C1 (27/11/2007) intra-day charts, the following is observed:
1. Cup & handle formation on 60 & 30 minute charts;
2. Rising MACD & Stochs;
3. Intra-day base at 0.195/0.20?

Proposed entry - 0.20
R - 0.245/0.255
Stop - 0.18/0.185

NOTE : Sinopec-C1 expiry date: 31/01/2008

Trading Ideas. RAMUNIA

Proposed Entry : 1.01 or lower

Stop : 0.97

R1 : 1.07

R2 : 1.13

KLCI breaking new highs recently. Election coming soon?

Trading Ideas. PMIND-WA

Proposed Entry : 0.06 / 0.065
Proposed Exit : 0.075 / 0.085
Stop : 0.055

Do take a look at the mother share too.

Trading Ideas. MBSB

Pennant formation still intact me thinks. Anticipating breakout.

However, exit trade at 1.53 due to T4. :)

Chart Patterns. Pennant.

Some characteristics of Pennant formation:

1. Sharp Move: To be considered a continuation pattern, there should be evidence of a prior trend. Pennants require evidence of a sharp advance on heavy volume. These moves usually occur on heavy volume and can contain gaps. This move usually represents the first leg of a significant advance or decline and the pennant is merely a pause.

2. Pole: The pole is the distance from the first resistance or support break to the high of the pennant. The sharp advance that forms the pole should break a trend line or resistance level. A line extending up from this break to the high of the pennant forms the pole.
3. Pennant: A pennant is a small symmetrical triangle that begins wide and converges as the pattern matures (like a cone). The slope is usually neutral. Sometimes there will not be specific reaction highs and lows from which to draw the trend lines and the price action should just be contained within the converging trend lines.
4. Duration: This are short-term patterns that can last from 1 to 12 weeks. There is some debate on the timeframe and some consider 8 weeks to be pushing the limits for a reliable pattern. Ideally, these patterns will form between 1 and 4 weeks. A pennant more than 12 weeks old would turn into a symmetrical triangle. The reliability of patterns that fall between 8 and 12 weeks is debatable.
5. Break: For a bullish pennant, a break above resistance signals that the previous advance has resumed.
6. Volume: Volume should be heavy during the advance or decline that forms the flagpole. Heavy volume provides legitimacy for the sudden and sharp move that creates the flagpole. An expansion of volume on the resistance (support) break lends credence to the validity of the formation and the likelihood of continuation.
7. Targets: The length of the pole can be applied to the resistance break or support break of the flag/pennant to estimate the advance or decline.

See also MBSB chart for pennant formation.

Trading Ideas. MBSB

Trade based on pennant formation.

Entry : 1.550 (19/10/2007)

Stop : 1.45

Alas....Bloody Friday had to happen to DJIA. The after effect is general diahoerra on KLCI & Asean financial markets on Monday (22/10/2007).

Is the pennant pattern still intact?

DJIA. Bloody Friday. A re-visit to Black Monday?

Black Monday is the name given to Monday, October 19, 1987, when the Dow Jones Industrial Average (DJIA) dropped by 508 points to 1739 .
On Friday, October 19, 2007, DJIA dipped a massive 366 points.
Mere coincidence? Market moves in cycles?

Trading Ideas. SCOMI. 18/10/2007 charts

Hahaha. Cup & handle failure. No follow up from the breakout at 1.66.
Exit plan should kick in at 1.60/1.65

Trading Ideas. SCOMI. 16/10/2007 charts

And Scomi weakens today. Note the stochs. Possible double dips in the making before further decline?

By the way, there was no trading yesterday - public holiday.

Trading Ideas. SCOMI. 12/10/2007 charts

Looks like Scomi was able to break above 1.66 today. But.... is that a kangaroo tail that i see with today's candle? More upside or slowdown?

Trading Ideas. SCOMI - cup & handle formation?

Will there be a breakout from the cup & handle formation?