Dec 18, 2006
The market today is relatively weak. Nasdaq is trading down
to its bottom of the trading range again. The drop is crude
oil did not help to rally the market at all. Several stocks
such as BTJ, DK and ALJ traded down on relatively light volume
but breaking the uptrend, especially for ALJ.
TRMM
already reached $2 today. It had gapped up 3 days in a row.
The major resistance on TRMM is at $2.20.
HIHO
will report its earning within two months. If it ever drops
back to $3.30-3.50 range, it's a buy and hold there. The next
quarter earning will include the Golden Bright Plastic Manufacturing
revenue, which will show improvement in the top line growth
and possibly better net income.
MED
just
did a 38.2% FIB retracement from $8.50(bottom) to $14.65(top),
11.50 will be the 50% retracement, and $10.75 will be the
61.8% retracement. If MED continues dropping to around $11-
$10.75, it's a potential buy.
I did not buy BNSO
today because the overall market is not in a rally mode yet.
I'm still holding mostly cash at the moment.
Dec 17, 2006
The Dow Jones had a major breakout last week. The option
expiration was one cause of the breakout as many call option
were bought. The daily chart does not show a very strong close
on Friday. Tomorrow will confirm for a true or false breakout.
The Nasdaq may follow the Dow Jones, but it had not given
a clear sense of where it wants to go yet.
TRMM
shows a sign of life on Friday. The company is undergoing
a restructure plan for a turnaround. It's selling the non-core
business to improve the bottom line. The tax loss sell-off
should be over for TRMM. It can reach $2 easily as funds stepped
up on the buying in November.
BNSO
's trading action for the past 3 days look interesting. The
volume is increasing and trying to break the $4.20 range.
I'm consider buying BNSO tomorrow depending on market condition.
This may trade well into January.
FPP
just
formed a triple bottom now. Most small cap stocks will trade
up higher due to "January. Effect". FPP looks like
a good candidate for it.
GLGC
completed
the sales of the Preclinical division on last Friday and the
stock rose about 11%. The chart improved and looks good for
the long term again.
MED
already
exceeded the short term target of $12 and went as high as
$15. I like MED when it was below $9, and I still like MED
here. If it holds well at the 200 MA, it will go up again
to $15. The diet season is about to start after X'mas and
New Year as everyone gaining a few pounds with all the delicious
food around.
Dec 13, 2006
The market is still trading in a narrow range on both Nasdaq
and Dow Jones.
RFIL
is already exceeded the short term target of $7.50 today.
BNSO
is still trading in the tight range of $4 - $4.20. The volume
increased a little today. Watch it tomorrow as it may have
a breakout session.
i feel so pissed for spending 30 minutes of my precious time
to clean up the "low life" spammers on my message
board.
Not much update as the market is practically doing nothing
for longs or shorts. There are still winners, but the risk
is much higher at the moment. Right now, cash is king for
the next round!