The market lost 13.80 points today on a lower value turnover, closing lower at 3837.
It is still a scattered market, with second liners leading the gainers with few third liners, led ANI +11.37%, DFNN +7.17%, RFM +4.97%, MWIDE +3.95%, PA +2.99%, LIHC +2.30%, and FOOD +2.25%.
Losers are also scattered among all sectors, led by LND -3.57%, NIKL -2.97%, ORE -2.86%, AP -2.83%, CMT -2.78%, and PCOR -2.58%. Other index heavyweights today are AEV, MEG, DMC, TEL, MBT, and MER, averaging 1% or so loss today.
MWIDE seems to be performing well in the current market condition after its IPO last Friday as it closed higher at 8.15 today.
ASIASEC gave away a pretty good amount of money today in MER as they sold it down to 220 before recovering right away, closing at 232. That's pretty nice profit for MER bidders. 5.45% gain in a day is not bad by simply waiting.
AEV and RFM looks attractive now.
NIKL could possibly drop another 2% or so before it starts heading back up. Waiting for nickel prices to turn back up.
*Ninja edit: Nickel just broke past its previous high of 28700 today(as posted on Bloomberg) and now trading at 29400, 0.9% higher from the previous session at 28250 so I really don't understand today's decline in NIKL.
Current market condition is probably not the right time to follow trend. Will swing trading produce better profits at current market situation?
Monday, February 21, 2011
Gold (EOD)
Looks like gold is poised to move up again. Pullbacks to the 50EMA is a buy.
No price projections for gold except the recent high of 1430 which provides a possible upside of 3.10% from the previous close.
MACD is forming lower highs and lower lows. Has gold already ran its course already?
No idea, just trying my TA on GOLD.