V3Go on Stocks and Markets Outlook: Gap UP Not Equal to Buying Time
Posted by admin in Futures Pick, Market Analysis, Stock PickGood Morning Everyone,
In all honesty, I am not looking to go long in any stocks today even though it seem to be the “RIGHT” thing to do now as the market seem to running up 26th of Feb, from a low of 2738 to current 2822. Over the weekend, I was bombarded with questions about my outlook for this week and when I look at the chart, I can only give one advice:
” If I am right, the market cannot go below today’s OP (Opening Price). If yes, I will prefer to be seller than a buyer. “
I have advised my V3Go grads to book profit on their Genting SP since last Friday as there is a strong V3Go Resistance at 91cents. Failure to cross this level by today, will send selling signal on this stock. So traders do take note of the closing price today.
I also just shared with my V3Go grads on the V3Go Skype Conference on DBS:
[9:34:12 AM] 00 KH-Trend Master: DBS
TAOS R/L is S$14.20 and S$14.26.
Failure to cross this 2 levels and close above it = selling pressure.
If ONE really feel like buying, then wait for it at 14.18 today.
Going below 14.14, one can short it instead, based on TSC
After the 25th of Feb strong recover by the Dow, the Index have rallied more than 200points since and seem to be going towards the resistance around 10700s area. But our Indicators are having MIXED signals; not too keen to advise us to go too heavy long at this price as the Risk vs Reward is not worth the trade. One can still go long but should go small or just stay out for the time being. To go short, one should only do that if your RULES allowed you.
For us, the support point for TODAY is 10496. It closed at 10566 on last Friday. So if the Dow actually stay above OP, the next potential level is around 10700s level. If the Dow goes below 10496, then it may re-test 10396.
Last week, during the run up, I shared a stock with my V3Go Grads, and that’s Q&M. Some of us managed to buy it upon my call but it was running too fast for me to update on the blog. I don’t want people to chase after it therefore I decided not to post on the blog.
One last advice for it:
[9:36:04 AM] 00 KH-Trend Master: For those who are longed in Q&M, I would advise you to get out for now.
I will update more as the day progressed.
Cheers!
Kelvin Han
aka Trend Master
Originator of V3Go Mentoring Program
Started: 0917hr.
Ended: 1011hr
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