Review of last night's trades. Sorry for the late update. Brought the family out early for the Official Opening of IKEA's Tampines Store. Was there at 8am and the place was already packed with people! A REALLY big place, if you compared it with the Alexandra Road Store. But after visiting the Tampines Store, you just have this feeling that there's nothing really new about the product range. Just more space for customers to shop, that's all.
Last night's up move was very much in line with Leg 2 of the Bull Break. But, we may see this Bull Break invalidated, as there were two consolidating moves, on the TREND chart near the market close. We had 2 PRIME PPFs, followed by a B-PPF of Resistance - to be confirmed by PRICE movement tonight. High chance that we will continue in the direction of the Bull TREND, as long as 1394.00 stays intact, on the TREND chart.
10:34pm TREND chart has turned down. Looking for Minor PPF (Or PRIME PPF would be nice...) on the Trading chart to go SHORT.
10:38pm SHORT 1403.25 / STOP 1404.25 - First target would be 1402.00, followed by 1401.75, 1401.50 & 1401.00
10:45pm All targets hit. Next would be 1400.25 & 1400.00
10:54pm Out at B.E. Can you believe that? Was too busy watching "Prison Break" on the telly, and I thought I could let it run. Instead, it came back up to bit me!
11:05pm Actually, I got my wish. A PRIME PPF did occur at 1405.00, but I decided to take my shower! As I mentioned this morning, 1394.00 MUST NOT give way.
11:15pm It does look like 1394.00 is in serious trouble here. Am not taking any more trades for the night. Had a long day, so may retire to bed early.
11:17pm PRIME Match at 1396.50. Will this PRIME Match be breached?
11:28pm Yep. It did. Still no sign of PRICE failing here.
11:35pm Time for bed...1 Trade / B.E.
Thursday, November 30, 2006
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