On Chinese New Year

Everyone was waiting for the rally of the Chinese New Year today, the way everybody was waiting for the Santa Claus' Rally last December. Unfortunately, like Santa Claus who got stuck in the chimney, the rally never came and the market walked away today with a small scratch, losing 2.52 points only with relatively lower volume than the average turnover as today's turnover only amounted to 3.4Bil. Foreign selling amounted to around 500M today. Running out of shares to sell to push the market further down?

I added FLI and MEG to my "short" list last night but with the way those 2 performed today, I moved them up to my watchlist as FLI formed a higher peak today. Although the new peak wasn't sustained up until closing, it still closed higher from the previous one at 1.18. Now, I am looking to enter a position near 1.10 or preferably lower but I feel like the closer to 1, the safer.

On the other hand, MEG seems to be forming an ascending triangle at the bottom of its downtrend. I am not exactly sure though if this type of pattern works as a reversal or not.

SMB seems to be a good candidate for trend following. Not in the marginable list though.

I didn't touch SMC today as I was unsure on what it's doing. Forming a symmetrical or ascending triangle? Anyway, both are bullish patterns so I think I would probably get in once 180 is broken.

Still patiently waiting for AGI.

It seems like bullish harami are pretty much reliable for short term profits/technical bounces/strong downtrend. They seem to ensure a minimum of 5% gain in our market.

Yehey NIKL! I have no idea why it was being sold down early this morning, specially by R&L SEC. Looks like the guy got burned shorting the stock today. The other one that is selling relentlessly this morning is from INTRA-INVEST SEC so I decided to track his entry. Tracking back up to the issue's IPO(11-22-10), it appears that they have an average entry of 16.62. With that in mind, it would be safe to assume that they are just taking profits.

Interestingly, LARRGO SECURITIES(193) has not sold any shares they got at 17. Are you guys waiting to double your money?

At the start of 2011 up to date, MACQ has not sold any share that they got at 19.36(average) while ATR seems to be pushing the stock up so he can unload at a much higher price.

Anyway, here's just to see what I am talking about R&L shorts today :



Also, it would seem that I was right in reading the Nickel's price in LME.

CITISECONLINE has also released a research saying that NIKL's fair value is at 22.49 with a possible upside of 26(which I am guessing in the medium term).

*I think the full report was taken down...
*I think the reason why I am always unsure with my open positions is that I always put up a relatively small position that I always get shaken out by noise.
Will start a larger position in the next trade.