Harmnoic VSA Forex - Week 6
Took a long position on Eur/Cad and GPB/NZD.
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ChinaMinZhong, IPC Corp, Addval Tech
As previous post stated, ChinaMinZhong is a dead horse. I miss 1 bid in triggering my short sell @ 0.665. =( Likely more downside ahead. IPC Corp, today's volume is incredible, if you chase now, potentially you are in great danger. Likely today or tomorrow, the BB will do their final sell down. Addval Tech, one thing i dont like about chasing penny stocks is that, if you chase the wrong penny stock, thats it for you. In a penny fever, usually you can only chase 1-2 counters. The reason being that you want as much herders as possible.
Update On Sakari (1)
Below are some charts which shows the Dow Jones U.S. Coal Index Stock prices. Sakari share price, together with the Dow Jones Coal Index prices have taken a hit. Coal spot price seems to have a support at 200 USD. Other major U.S companies coal companies such as Peabody and Alpha Natural share prices are also on a declining trend as well. Coupled with slowing growth of China, which is a huge importer of coal, the outlook of Sakari does not seem to be as rosy as before. Just to take note as the Coal prices index that i am using is not the Indonesia Coal spot prices, but valuation As Coal prices seems to have rock bottom, it is best to avoid coal related companies at the moment. As Sakari is the only Coal company listed in SGX, investors can only gain exposure to coal related companies through them. Support/Resistance at 2.100 , 1.97-2.00 , 1.800 . Do take note at thes...
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