Dow recovered from morning losses but will that reflect on Asia markets?
Posted by admin in Commodities, Events and Advertisements, Futures Pick, Market Analysis, Stock PickSTART: 0833hr
Good Morning Everyone,
Dow pared of earlier losses on buying interest led by Walmart after an analyst upgrade on the stock. Financial stocks also received a boost aftr Sen. Chris Dodd unveiled his financial-reform bill. Dow ended 17pts higher while the NASDAQ gave back 5pts. S&P rose marginally, 0.5%.
Crude Oil as forecasted, slammed below the US$80/barrel overnight therefore, this should increase some of the selling pressence on CPO related stocks. That’s why we hardly mention about going long on these stocks recently.
For today, using our reliable V3Go TSC technique, the STI is expected to trade sideway but leaning towards the downside should it stay below its OP(Opening Price) & below 2884. It closed at 2874 yesterday. Do expect initial upside first since the S&P was trading at around 1145 during yesterday closing while now is trading at 1150 level.
We will be looking at the Crude closely again for today; as long as it doesn’t show any sign of upside, it will be difficult for the CPO stocks to move much. In our Graduates Skype Conference, we are still pretty much looking to SELL/SHORT the CPO stocks via CFD facility.
Stocks that we called/mentioned for SHORT since 3 trading days ago and still vested:
(1) We are looking at Wilmar to potentially trade to S$6.49~6.50. It closed at 6.64 yesterday.
(2) We are looking at IndoFood to potentially trade to S$2.16~2.18. It closed at 2.24 yesterday.
(3) We are looking at Olam to potentially trade to S$2.48~2.50. It closed at 2.53 yesterday.
(4) We are looking at Swiber to potentially trade to S$1.02~1.04. It closed at 1.07 yesterday.
We are looking to cover back our SHORTS on the above mentioned range. So traders may want to take note too.
Stock(s) that we are looking to go LONG
(1) BioSensor
(2) Genting (For those who paid for the SPECIAL Genting Email, please check your email in 10mins)
With that, we wrapped up our morning preview and will update more as the day progress. Tonight, we will be conducting our V3Go Mentoring Program Preview at 7.30pm.
We will be sharing how we developed our V3Go System and how we integrate Market Psychology into it. If you are a believer of Technical Analysis and have been finding a ROBUST system that provide PRECISE Entry & Exit then One should attend this Preview. Interested, please contact us at sales@cronwell.com.sg to reserve your seat(s). It is a FREE Event so you can bring as many friends as you like as long as you provide us, everyone’s full name and contact number for registration purposes. All information will be kept confidential.
May you have a great trading day ahead.
Disclaimer apply as usual. Cheers!
V3Go Team
END: 0928hr
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