Sunday, January 27, 2008
Hongkong & Shanghai
Very long shadow candle. That could mean that the correction is over. Monthly chart still shows that the bulls are in control. Another weekly white candle should confirm the bottom of 21700. Does that mean that it is going for an Olympic rally? Will it be a marathon or a sprint? I'm stalking for possible trades. The problem is that many CW are deep out of the money. So have to wait for the next batch of new CW with lower exercise price.
A very long shadow doji. Another weekly white candle will be nice. No monthly chart reading because it is launch only in Dec 2006.
No reversal sign. The selling pressure is still strong. Why? Releasing funds for the cheaper Hongkong? Maybe the story will change by the end of week.