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"To be successful, the technical approach involves taking a position contrary to the expectation of "the crowd". This requires the patience, objectivity, and discipline to acquire a financial asset at a time of depression and gloom and liquidate it in an environment of euphoria and excessive optimisim."
~ Except from Book "Technical Analysis Explained
By Martin J. Pring
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Interesting fact about Genting’s analyst calls over the past year:
Over the past year, there are a total of 49 target price upgrades and 27 target price downgrades – amounting to a total of 76 changes made to projected targert price of Genting.
~ Source: Nomura
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“Trading has become increasingly concentrated in the first and last hours of the session.
Those two hours now make up more than half of the entire day’s trading volume, according to an analysis of data provided by Thomson Reuters. In August, the first and last hour generated nearly 58% of New York Stock Exchange primary volume, up from 45% in August 2005, the analysis shows. The rise of high-frequency trading, where algorithms are used to exploit small discrepancies in high-volume situations, amplifies the concentration of trading at the beginning and end of the day, analysts say.”
~Source: Wall Street Journal
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STI been more or less down for 6 consecutive days since 3rd of Aug 2010. The big question mark is how many more trading days before it make a turn. Only time will tell.
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"To investors willing to buy and hold common stocks for the long term, the stock market has offered excellent rewards over the years in terms of both dividend growth and capital appreciation. The market is even more challenging, fulfilling, and rewarding to resourceful investors willing to learn the art of cyclical timing through a study of technical analysis.
The advantages of cyclical investing over the "buy and hold" approach were particularly marked between 1966 and 1982. The market made no headway at all – as measured by the Dow Jones Industrial Average (DJIA) – in the 16 years between 1966 and 1982. Yet there were some substantial price fluctuations. Although the DJIA failed to record a net advance between 1966 and 1982, the period included five major advances totalling 1500 Dow points. The potential rewards of cyclical investing were therefore significant."
~ Except from Book "Technical Analysis Explained"
By Martin J. Pring
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*. Think long term when trading
*. Avoid outcome bias (tendency to judge a decision on the basis of its outcome rather than process).
*. Believe in the effects of trading with positive expectation.
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“A Turtle never tries to predict market direction but instead looks for indications that a market is in a particular state. This is an important concept. Good traders don’t try to predict what the market will do; instead they look at the indications of what the market is doing”
- from Book “Way of The Turtle”
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Following markets are close today due to:
Australia – Easter Monday
Hong Kong – Easter Monday / Ching Ming Festival
China & Taiwan – Tomb Sweeping Day
Thailand – Chakri Memorial Day
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