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This hot stock is on the run since Dec last year. Last week, the stock gap up on high volume and forms a long white thrust candlestick followed by 4 days of contraction with low volume. This is a contiuation pattern for more price increase as the sellers dry up.  Buy on breakout [...]]]>

De Vry Inc

This hot stock is on the run since Dec last year. Last week, the stock gap up on high volume and forms a long white thrust candlestick followed by 4 days of contraction with low volume. This is a contiuation pattern for more price increase as the sellers dry up.  Buy on breakout of $72.3.  The 13,26D is moving up and should provide support to the stock.

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MGM Mirage

MGM has broken out of $14 on good volume and the long thrust white candlestick signals strength in the move. Currently, the stock is experiencing its first pullback after breakout. The key signal to note is that the last two trading sessions ended with a drop in the stock [...]]]>

MGM Mirage

MGM has broken out of $14 on good volume and the long thrust white candlestick signals strength in the move. Currently, the stock is experiencing its first pullback after breakout. The key signal to note is that the last two trading sessions ended with a drop in the stock price but with two hammer formations and high volume. MGM actually closed off its low above the 13D MA when Dow Jones drop 120 points on friday. This shows that the stock is resilent and although the next few sessions will probably be more sideway consolidation before the stock burst upwards. Technical target for this run is USD$20.

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Some disturbing signs are appearing that could point to a short term market correction soon.

Firstly, the Morgan Stanley european equity has noted that the MSCI’s main europe index has risen 50% y-o-y. Based on statistics, this has indicated a long term bullish signals but doesnt bode well for the short haul. On 77% [...]]]>

Some disturbing signs are appearing that could point to a short term market correction soon.

Firstly, the Morgan Stanley european equity has noted that the MSCI’s main europe index has risen 50% y-o-y. Based on statistics, this has indicated a long term bullish signals but doesnt bode well for the short haul. On 77% of teh time, the equity markets have fallen over 4% over the next six months. The series of good economic news that is slated to come out may turn into bad news as this will sprompt central banks to a policy reaction and send bond yields and inflation up.

Second signal comes from America Merril Lynch whose data from 200 over fund managers shows that the cash holdings had dropped to 3.5% of assests among the group. Base on historical data, when the cash holding drops to this level, equities are slated to decline 7% over the next four to five weeks Although we are currently in a cyclical bull market, the short term signs points to added pressure to the market.

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Peabody Energy

The Coal war battle for Macarthur has taken a sudden turn last week when Arcelor Mittal and Posco Steel threw in their lot for US based Peabody [...]]]>

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Peabody Energy

The Coal war battle for Macarthur has taken a sudden turn last week when Arcelor Mittal and Posco Steel threw in their lot for US based Peabody after it launched a third bid at the Australia producer.  Finally the scale has tipped in favour of Peabody and unless a new bid offer comes from Singapore listed Noble Group , Australia Miner New Hope Coal and Swiss Mining giant Xstrata. Peabody has made a third  offer for Macarthur.

Technically, Peabody turned short term bearish following friday’s Dow Jones drop on high volume. This could be due to the Dow Jones weak sentiment. I am looking to see if the price can hold at the lower support line of the triangle but i am not comfortable with the high volume that accompany the price drop . If Peabody successfully acquire Macarthur, it would be beneficial for the company to tap into the growing asia market and ride the wave of China’s insatiable demand for coal and steel.

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Eastman Kodak

Since the last buy call on Eastman Kodak, the stock has broken out of a tight consolidation zone around $6.22 and formed two stage breakout [...]]]>

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Eastman Kodak

Since the last buy call on Eastman Kodak, the stock has broken out of a tight consolidation zone around $6.22 and formed two stage breakout to reach $8 high. Currently, the stock is overextended as can be seen in the chart that the price is far from the 13,26D MA. The good news is that the failed breakout on Thursday night which forms a spinning top is not of high volume. The trading volume is also drying up as the stock consolidates towards the moving averages which is a good sign. Expect further upside on breakout of $8 , but next few sessions would be rough given yesterdays selldown.

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Dow Jones

What a twist of fate for last night’s trading session. Goldman’s fraud episode has put a huge brake on the charging bull of the Dow Jones. The [...]]]>

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Dow Jones

What a twist of fate for last night’s trading session. Goldman’s fraud episode has put a huge brake on the charging bull of the Dow Jones. The index dropped over 120 pt on very high volume traded. Even the good results of bank of America cannot save the stock from the bloodshed last night.

Technically, last night’s session signals a potential short term trend reversal. The long black canlestick last night forms a bearish engulfing  and overwhelms the previous two days combined candlesticks. Volume is extremely high on last nights drop and this certainly does not bode well for the bulls. I would look at two key support points 10874 ( 26D MA) and 10722 as key support to watch out for any signs of rebound.

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Shanghai Stock Index

China’s news on additional measures for property curb on friday has definitely been a twin tower of bad news with the goldman sach fraud which added selling pressure to the local bourses and index. SSE corrected about 1% on a relatively lower trading volume  in reaction to the news on measures for property curb in CHina. Technically, SSE has not broken out of the symmetrical triangle but is just retracing from the 3184 resistance line. I expect the SSE to consolidate around 3070 to 3020 region and retest 3184 again.

Hang Seng

Hang Seng index has obviously outrun its 13,26d moving average and now consolidating back to its moving average. The expected weakness in Dow Jones and Shanghai index will also add pressure to the Hang Seng index over next few trading sessions.

Sirium XM Radio

SIRI is back. From the chart, the the inbound trend is very strong. Two gaps are formed although second gap up has considerably lower volume. 13,26D [...]]]>

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Sirium XM Radio

SIRI is back. From the chart, the the inbound trend is very strong. Two gaps are formed although second gap up has considerably lower volume. 13,26D MA is turning up as well.  SIRI needs to clear $1.15 and after that the next resistance will be $1.36. This will be one hot penny stock of the year…

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Watch for PLD to test $15.05 again. MACD is turning up and yesterday’s long white candlestick and increased volume signals strength. If PLD break $15.05 and holds well, there is good potential for upside to $20. This resistance has been tested many occasion. With dow jones breaking 11000, there is a good chance of [...]]]>

Prologis (PLD)

Watch for PLD to test $15.05 again. MACD is turning up and yesterday’s long white candlestick and increased volume signals strength. If PLD break $15.05 and holds well, there is good potential for upside to $20. This resistance has been tested many occasion. With dow jones breaking 11000, there is a good chance of PLD breakout and continuation.

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Will Delta Airline breakout tonight ?? Take note it is resting on 13 D MA and ascending triangle is

formed. Lets see if Dow Jones can hold well tonight. Technically, a break on the upside will bring stock

to $17.

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