Afternoon market review.
Posted by admin in Commodities, Forex Analysis, Futures Pick, Market Analysis, Stock PickGood Afternoon,
Asia stocks and the Korean WON plunged to the lowest levels in 10months after a report that North Korean leader KIM Jong LL ordered his military to preparefor combate last week. The Euro continued to weakened and commodities declined on concern of Europe’s debt crisis may spread.
This morning, we expected TWI, STI and HK to recover once they go above OP, but most of them recovered alittle and sold down on stronger market forces by the bears. STI opened at 2694 and did try to go above 2700 but missed the posted level of 2718 and retreated back down to 2666. HK Future opened at 19327, below the posted level of 19360 so selling was expected. It hit a low of 19080 before covering to close for lunch at 19126.
We also called for Genting and it did hit 955cent upon calling it but the selling in the regional market made it came back down to 925 before closing at 935 for lunch. We have shared with our grads… if this stock goes to 92cents, just cut the long that we bought at 94.5cents earlier.
US Crude still trying to find grounds at US$69 level while the Euro trying to find a foothold at 1.23 level.
Have a great lunch!
Kelvin Han
aka Trend Master
V3Go Originator
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