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The Whipsaw Song - Ed Seykota (Trading rules embedded into a song)

Friday, November 7, 2008

Important couple of days going forward

Just did a scan of the end of day (EOD) of today charts. As expected the resistance level of many counters works like magic and most of them retreat around their resistence points. Now the next couple of days will be fairly important in determining the short term market direction. If it can

1) make higher low = short term bull
2) retreat from resistence and close below 8 EMA = short term bear

As a swing trader, i will go with the trend which is down.. I have identify a couple of counters which are favorable shorts from a risk reward prespective.. Here goes..

1) starhub
2) straitasia
3) wilmar
4) SIA
5) Sembcorp
6) DBS
7) Noble

Remember.. Set your stops with enough width to cater for the volatility to prevent false shake out which also means proper position sizing must be consider b4 you pull the trigger... LAI LAHHHH

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