Tuesday, June 23, 2009

Should I sell?

US mkt has been rangebound for a while, falling, but without enough volume to break the uptrend. Trend bending but not broken. Can go either way.

To KISS, I hold stocks in a uptrend as long as possible until a definite break in the trend. Buy on fundamentals, sell on chart. I look for:
1) Lower high, lower low
2) reversal patterns (double top, H&S).
3) Support and resistance
4) Short term candlestick patterns. Just started looking at these.
I don't believe in trendlines as they always get redrawn.

Can't see resistance/support lines. But the large vol for the 3 days circled in May will be resistance:
Stock has not performed well. No clear uptrend. Weekly chart shows large consolidation from Oct - can go either way.
Would like to sell this one as it has underperformed the rally but can't see where to. Cannot see trend at all.

Uptrend flattening but not clearly broken. Hold.
Can the last candle (hammer) act as a short-term reversal? Need to see if confirmed.

SIA Eng:
(Daily) Uptrend slowing, no cause for me to sell yet.

(Weekly) If it clears resistance around 2.90, there is no resistance for a while.


No sign of reversal *yet*.

May be reversing, hard to tell.

If we zoom in, it has very barely made a lower high and lower low.
I can choose to keep holding until a more descisive breakdown, or sell half.

Cant see anything. No Support, no resistance, no higher highs and lows, nothing.
No reversal sign. Gone down recently - 50% retraction of the sharp run-up from May around 60c, so its still considered normal.
Hold. The chart is so hard to read I will probably only sell this when the whole market changes.

Cant read this chart either. Not in a downtrend, so hold.

Zoom in and it may barely be forming a lower high, lower low. Not definate. Zoom out and its still in an uptrend.

Still in uptrend in the past few days, defying the market. Announced big contract on 22nd Jun.

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