Everyone is very bullish. Since the day I kept statistic on advance/decline ratio, this is the highest. Bullish counters based on daily charts is at all time high. Volume is also very high. Who will be the guys that will buy high and sell higher? Sugar is the speculative leader for this round rally. What possible reasons that can be used to push the stocks higher? I guess that currency theme will be played again. Then maybe the 3rd quarter result season, and finally the year end Santa theme. I don't know whether it will last until God of Prosperity or not....what I know is not to buy high volume counters at this moment. It's kind of hard to set stops when the stock keep moving up everyday. It's like jumping on a moving train, you will be rewarded if you got the skills, but most of us will just get killed.
Next coming Monday should be a down day....it always a down day during early of the week for the past 2 months. This is because amateurs and professionals buy and sell at different time (you got to read A. Elder book to understand this). Furhermore, the Dow close lower, so sentiment maybe affected. Lets see how does the high volume are absorved.
2 comments:
Still a bullrun.
Bull run till CNY.
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