Thursday, October 18, 2007
Bull vs Bear (17 Oct 2007)
I see that the bears are slowly creeping up. Daily bulls are down while weekly & monthly bulls are flat.
Not much action for Malaysian stock. Plantation stocks are doing well. Bursa continue to make new high. Oh...I missed out PBBank CW. People are so crazy about CWs again. This makes the CWs to go up very fast. No chance for me to buy.
HK CWs has gained tremendously. One has even score a 30% premium. Everyone is expecting it to continue to go up and up and up. But wait! Lee Shau Kee says sell above 30,000. That is one prominent investor. This call may just become a self fulfilling prophecy.
Anyway, I detected a bearish divergence signal on the HSI daily chart. So I decided to sell part of my CWs. Then again, I was really not comfortable everyone is just crazy.