How To Know When Not To Trade?
Look at where we are now and what we did to get here.
The market is running quite strongly again now, this comes after a long trend move higher.
Possibly getting little bit parabolic, so don’t look to open fresh long positions, instead manage and ride any current longs.
(Therefore removing China Aviation from the list here as we are not looking to open fresh long positions.)
Don’t try to pick market top also, so opening new short positions are not recommended either.
We have guidance from the TradersGPS system, and our users know how to interpret what the market is trying to tell us.
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Now let’s take a look at the STI!
STI
We blasted through the 3100 level.
Looking for the 3150 level next and then the 3200.
Movement is getting parabolic so do pay more attention to your existing long positions.
GLP
Still waiting on them to announce their decision on the bids received.
Sembcorp Ind
Shot up because their sister company, Sembcorp Marine, had a much better than expected financial report.
A good strong 5% run into previous swing high.
It might go parabolic, so pay attention to it.
Follow system.
OCBC
Bouncing back from a worse than expected financial report.
If you’re still holding, follow system.
Japfa
Candles have just started turning red.
Follow system, be prepared to let go of this one.
MM2
Still hovering just above support.
Slow grinding trend.
Follow system.
Hong Leong Asia
Made a run up near the previous high.
Let’s follow system and see where it takes us.
Cogent
Struggling a little with these previous high.
As mentioned in a previous post, Cogent is near a resistance area
So naturally will find some difficulty here.
So that’s it folks, time to manage positions, not open new ones.
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