The market lost another 26 points today after recovering strongly yesterday, losing a total of 52 points in the past two days after the turmoil in Libya erupted. Value turnover has also dropped below the average of this week so there's probably no more sellers now as the index is now resting at the previous low.
The market didn't get into the green today as I was expecting but the decline is within expected range.Gainers for today is led by MA +9.38% after the rumors of the done-deal with MVP, followed by OPM and OV with +7.69% and 7.14% gains respectively due to the price surge of crude oil -breaking past 100 last night; and AEV gaining 3.71% for today and I have no idea why.
Losers are mostly composed of third liners again, with GLO being the heaviest of them all, losing 4.45% and the continuous selling in TEL caused it to decline further by 1.79%. I really believed that TEL was holding up at the 2300 levels the other day!
CYBR is now at its major support with doji losing 2%, MBT succumbed to profit taking after gaining around +2% during the day, MPI hardly changed, NIKL was bought up again at the closing(I wonder how long could ASIASEC keep this up) while SECB declined further by 1%.
1 unchanged, 1 winner and 2 loser with a net of 0.52% loss, not counting the unchanged. I think that the pattern has a low winning probability on the next day.
Let's see how will the patterns work out to the positive territory next week.
Crude oil(WTIC) broke past 100 last night and now trading at 98.90 while Gold is now above 1400 levels, trading at 1411.
