Sold CWT

Sold 20 lots @ 1.04.

Although not 100% the uptrend is broken, the weight of evidence points to it:

Bought SC Global, CWT, CapMall Asia

Yesterday Wed 3rd Mar 10:

• Bought 20 lots CWT @ 91.5c. Cut loss at 87c (-5%)
  
• Bought 10 lots SG Global @ $1.82. Cut loss at 1.64 (-10%)
  

Today Thurs 4th Mar 10:

• Bought 8 lots CapMall Asia @ $2.28. Cut loss at 2.19 (-4%)

Aim was to buy stocks that are in an uptrend (or may be bottoming, for CapMallAsia), but are not to overbought, in case the market direction heads down again.

CWT

Still in an uptrend, above its MAs. Recently worked off its overbought condition:

Resistance zone at 96 to 99c (previous high, as well as from previous year). Clear after than, till $1.17.

What prevents me taking a position?

• market direction unclear.
• Ideally I would like to see another peak, so a clearer resistance-trendline (triangle) can be drawn. But this stock has not historically behaved like that.... too jumpy, short consolidation periods.
• Possibly buy on clearer market direction and 4-red/1-green.

Note, stock quite illiquid, may have to take half position only.