Watch Sound Global and Genting for stocks… and of course… HK Future & Euro to SELL
Posted by admin in Forex Analysis, Futures Pick, Market Analysis, Stock PickGood Morning,
I can only yawn whenever I see the market recently as I cannot really see much thing to do except looking at Sound Global and Genting SP for today. Sound Global although slammed down for the last 2 days but the closing at 78cents gave us the signal. We are calling for a BUY on it as long it stay above this level despite the recent selling.
For Genting SP, this is what I shared with my grads this morning;
[9:33:42 AM] 00 KH-Trend Master: Rem, i mentioned a few time before, Genting SP before it move, you just need to see the volume of it,.. it have a pattern… if by first 5-15mins, the traded volume is more than 20-30mil, usually, this stock will be in action. Overall, I am bullish on this share for the long term and I did mentioned before that if one can hold this share, hold it as i am looking at it to hit $1.35 again by around Sep 2010 after its earning report for 1st half of the year. This counter is a worthy counter to keep and hold. Cheers!
I have always been bullish on this counter and during all my previews in March to June this year, I have calling for a buy on this counter whenever it retraces. This counter in my opinion, is worth easily S$1.50 once the Q3Y10 report comes out in late Dec this year (of course, on the note there is no further financial clamity) because I understand how a casino operates and the amount of money they can TRUELY make from the machines and the tables. Just imagine, the LEVY they collected for the Government is already S$70million!!
So using simple maths, you should know, how many Singaporean have tried their luck on the tables and how many non-Singaporean have played too?
Using common TA, the support for this stock is $1.12 which I believe the BBs have taken great strength to maintain around there. If this stock do retrace on profit taking by the Dow in the near future, do take note of this level as a good level for accumulation instead. I will showcase a VIDEO on Genting within the next 1-2days. Watch out for it.
On the Future Side, I am still very bearish on this HK market and my stand of 1000points downside is still intact. But of course, with the World Cup probably sapping away most of the traders from the floor, it is most likely it will take awhile to happen. I am looking at this market to 20400 first. Now trading at 20680s.
But this morning, I also shared with my grads on the Euro currency movement;
[10:22:45 AM] 00 KH-Trend Master: Watch the Euro at 1.2266… if breaks, more selling is expected.
[10:23:16 AM] 00 KH-Trend Master: If Euro Sell = Dow wil most likely follow = so Asia markets may be reacting first… take note.
Lets see if my analysis will be proven right….Have a great trading day ahead!
Cheers!
Disclaimer applied
Kelvin Han
aka Trend Master
V3Go Originator
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