Stocks To Keep A Close Eye On
- Thread starter SavantGarde
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Much will depend on how Japan, China and Hong Kong Open. China and Hong Kong are the root cause for today's fall. I agree once the Dow futures opens tomorrow which would be green the market would take a U turn. But this Dow business is getting very annoying. It has hit its 15 months High on closing basis and if it closes above 11000 it will hit 10 years high but it is grinding the other markets especially the Asian markets which are so concerned with it that they are totally depending on the movement in Dow. When Dow rises and the Asian markets tend to rise the Dow futures become Red making the Asian markets shed its gain. When Dow closes Red the Asian markets open gap down only to rise again because Dow futures turns green. Our overall net movement is almost zero in this entire month which is just frustrating to the core I imagined that we ll have directional market when it finally crossed the 5200 barrier. However now I have reached a position where I m going to convert all my futures contract into February expiry. I had made almost 50% return on investment just this month but now it seems I ll be stuck at 10-15%.
Tracking dow is getting frustrating...agreed. Everytime time we see strength in our market, some dow, mow cow becomes the party pooper. This is what I have observed for a long time.
But then....lets believe what our charts are telling. Our charts are very bullish. Look at JAICORPLTD, SUNTV, etc who have gained today or any other stock who have gained by leaps and bounds in the past few days. Most of these gains are across trading ranges or long term resistance. Some of the stocks have made new yearly highs after their recent breakouts. There is very good volume attached to those bars/candles. The down-bars following this have not shown any selling pressure. The operators have absorbed the stock from the trading ranges and succeeded in pushing through the supply.
Such pushing up through supply requires lot of money, conviction and excellent judgement. The operators would not have dared this action if they believed the market was weak. And they are seldom wrong. So its clear sign that they are bullish. If they are bullish and we have long positions, then why should we worry about it?
One may recollect the past few days where dow was down 1% and we were up 0.5%. The supply-demand-opportunity conditions may be different there than here. So let us not worry.
BTW, I have taken long positions in cash stocks today.
But then....lets believe what our charts are telling. Our charts are very bullish. Look at JAICORPLTD, SUNTV, etc who have gained today or any other stock who have gained by leaps and bounds in the past few days. Most of these gains are across trading ranges or long term resistance. Some of the stocks have made new yearly highs after their recent breakouts. There is very good volume attached to those bars/candles. The down-bars following this have not shown any selling pressure. The operators have absorbed the stock from the trading ranges and succeeded in pushing through the supply.
Such pushing up through supply requires lot of money, conviction and excellent judgement. The operators would not have dared this action if they believed the market was weak. And they are seldom wrong. So its clear sign that they are bullish. If they are bullish and we have long positions, then why should we worry about it?
One may recollect the past few days where dow was down 1% and we were up 0.5%. The supply-demand-opportunity conditions may be different there than here. So let us not worry.
BTW, I have taken long positions in cash stocks today.
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