Market is still finding strength but there are interesting movements… & review of trades
Posted by admin in Commodities, Forex Analysis, Futures Pick, Market Analysis, Stock PickGood Afternoon,
Although the Dow closed negative once again, but the 100points reversal does show that there are some buying interest by the market. 10375~10385 is the critical support range for the Dow for the moment. The market really cannot close below 10370… if it does, then we might see further selling to come.
This morning, our buy call on SoundGlobal traded higher and hit 88cents. Congrats to those who bought it on our advice.
Our call on Genting came out wrong but unfortunately, we did mentioned that if the stock price goes below 98cents, one must cut and many did that. Well Done! That’s very discipline of you. Now we wait for the next round to enter again. As long as the story doesn’t change on Genting, we will still enter into it when opportunity arises while keeping our stop loss small so that we can catch the next wave again.
We called on Cosco at 1.57 and it close 1.57 (DH of 1.59) on 18th of May. Next day, it gapped down and based on our TSC channel, we have to cut which we did. We were stopped out at 1.53.
The reason for buying will be the reason for selling if breached. Our NOL buy call was made at around 2.03 but was stopped out at 1.98 as we mentioned that 1.99 is the reason for buying. Apology.
For this week, our stocks were 1/4 but our Futures calls on Gold, Crude and Oil was 3/3 .
1. Gold slammed down US$30 to go below US1200 as we predicted.
2. Euro now is trading at 1.2350 after hitting 1.22 level that I mentioned. So congrats to all those who made money on these calls.
3. Crude called for buy around US$69.60 on the previous contract, 18th of May. Upon the call, it did rocketed to US$72.52 before coming back down to close at US$69.17.
From the above, it clearly show that we are pretty balanced for this week but it does show the equity is near to rebound soon, from the performances of the Future markets.
I am pretty sure that if the Crude, Oil and Gold continue to move in the direction that I want, the equity markets should recover soon. By then, we will return and make money again.
With this, its time for lunch.
See you later.
Kelvin Han
aka Trend Master
V3Go Originator
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