The Weekly Review: Happy New Year!

It's going to be 2013! Currencies are getting funky now looking at EUR, USD and JPY charts. AUD/USD seems to continue to be bearish. Nothing much to trade as they get funky. Obama's speech on Friday caused the market to spin into negative. I would guess the market would continue to move up if not for Obama's speech.

US Stocks

Dow Jones bursted into bearish caused by Obama. We shall see how it goes in 2013.

Singapore Stocks

Those who bought Wilmar on the low, congrats! There might be more upside to come.

Yangzijiang is also looking good for a long.

Wish all a happy New Year!

The Weekly Review: We Survived The End of The World!

The EUR/USD and EUR/JPY has reached a resistance after a very satisfying up move. So one will have to wait for another test of low before buying in again. For those who are more speculative, one can short these two crosses as they hit a month resistance. My weekly timeframe is showing a bearish pinbar for EUR/USD. AUD/USD has tumbled down after 2 bearish pinbars. Congrats for those who shorted AUD/USD last week!

US Stocks

Seems Dow Jones Index has hit a resistance and coming down. Support was seen for Friday.

Wells Fargo failed to move higher after its support.

Singapore Stocks

Kepland had a freak rally on Friday going from $4 to a high of $4.26. I do not know what news came out for this stock but it was really a big one. After the high, profit taking by banks pushed it down to become a very big pinbar. Will it continue up more? Take some profit and I suggest waiting to buy another low will be better than buying the high. Profit from this stock would have netted you a handsome reward if you bought it at a low last month.

Time to short Osim?

For Wilmar, after a huge one day rise, it was pushed back down into a resistance zone. For the coming weeks one will need patience for this stock. Rewards will be very good if it manages to move up above.

Genting may be in consolidation mode. May have more upside.

Guess 21/12/12 was not the end of the world yet. According to the Chinese calendar, it is the winter solstice where everyone will gather together and have "tang yuan" soup. Well and according to some other sources about the Mayan lore, 21/12/12 marks the end of an era and comes a new age of "consciousness" which means will we gain new telepathic powers? Can we read minds and communicate without phones in the future? That will be exciting!

Singapore Stocks: Time for commodities

Properties have reached their current top. Time for commodities stocks to fly. Olam, Noble, Wilmar.

The Weekly Review: A New Trend

The Euro continues to be moving up after the retracement last week. Congrats for those who have bought on the low. EUR/USD had a pinbar on Thursday which then broke out of resistance on Friday. EUR/JPY is abit hovering on resistance, currently showing a bullish pin bar which signified that likely more upside is possible. If you look at the monthly chart of both EUR/USD and EUR/JPY, you would see that the trend is changing to bullish. It just needs to break out of the monthly resistance. On the other hand, AUD/USD is having trouble breaking up as you can see the repeated bearish pinbar. It does not mean that a good short is coming as it might be trying to breakout of a very strong resistance.

US Stocks

Wells Fargo is looking good for a long. This stock is also one of Warren Buffett's stock portfolio. In this case the call for upside is because of technical reason not investment.

Singapore Stocks

Yangzijiang is looking for a good long term upside if it manage to maintain its support.

But Cosco Corp still remains weak.

Genting SP broke out of its resistance, hence there is huge buying. Hmm.. will gambling stock continue its bull?

The Weekly Review: Stirred But Not Shaken?

After reaching a resistance point, the EUR had a big fall. But I it seemed to be supported at the last pinbar support. If it bounces back it will be a buy. The Aussie has been quite edgy as it became very volatile, however it seemed to be trending up slowly. I will probably stay away from trading AUD/USD. A good buy will be AUD/JPY, as it continues to be trending up. USD/JPY is consolidating now. USD will continue to gain strength overtime. The reason for the consolidation is because everyone is waiting for the decision on Fiscal Cliff.

A bullish pinbar has formed in GBP/USD. It is a very likely buy as the weekly timeframe is favorable for more upside.

US Stocks

The Dow continues its trend up. It has broken up. So it is likely it will continue its trend till news of Fiscal Cliff decision.

Interesting news is that Apple stock slumped 9%, forming a "death cross", which is when the 50-day moving average cross under 200-day moving average. To technical analysts, it means that it is a bearish indication telling you to sell. A "golden cross" is the opposite, indicating a long term bullish buy. This indicator is usually used for US stocks which has a longer history period.

Will Apple fall further?

Singapore Stocks

Singapore Stocks have been much in consolidation for many weeks. Other than this, property stocks have continued to be strong. Kepland, Captialand and CapMallsAsia still showing strength and making new highs. Commodity stocks continue to be weak such as Noble Group, Wilmar and Olam.

Olam has been in a fix lately because of Muddy Waters announcement that the company is having a big risk of debt problems. Before the news, there have been already selling of this stock (Must have been Muddy Waters). Simple technical analysis with a good stop loss will help to minimize your losses in this stock. The lines I have drawn is a pattern which is the underneath forms a increasing support. However, the support broke which the stock made a continuous sell even before the announcement of Muddy Waters. It was probably this period Muddy Waters was making the short selling. BBs are smart and they soon followed. Later the stock bounced back strongly cause of Temasek buying and short covering. Then things became complicated.... So I suggest stay out of Olam till things are clear again.

The Weekly Review: It's December!

The EUR had a very small short before it is rocketed up again by news that the fiscal cliff will not be a big problem. Hence you can see the supporting pinbar on the EUR/USD. EUR/JPY now sports a small pinbar from Friday's trade. However long term wise it is still a long for EUR crosses.

US Stocks

Google has been recovering from its big selldown.
US will likely still head higher till next year unless the fiscal cliff problem is not solved and will hit stocks hard. Very hard.

Singapore Stocks

Is Yangzijiang ready to move up or will it still hit a ceiling?

 Yet NOL and Coscocorp had a very big selldown on Friday. Is it a trick by the BBs?

Property stocks continue its run up. Capitaland, CapMallsAsia, Kepland, Yanlord are all moving up.

GLP has caught my eye as it had a very big bearish pinbar indicating a probable end to its bull run.

Bullish

Bullish on EUR/USD, EUR/JPY, GBP/USD.

AUD/JPY

Likely shorts for AUD/JPY and USD/JPY.

The Weekly Review: Euro Up

EUR/USD broke out from its resistance and trended up. The move could further push up EUR/USD. EUR/JPY had a few false bearish pinbar, once it broke out of the pinbar it moved further up. This kind of action is called a pinbar failure. AUD/USD had a bullish pinbar up, then continuing to move north. Right now it has a bearish pinbar signalling a possible down move on Monday. I will continue to be bullish on JPY crosses as the Yen might continue its selldown for the next few months. USD/JPY had a bearish pinbar last week. So take some profit.

US Stocks

Apple had a big move up after that pinbar. Simple buy up by the big funds.

Singapore Stocks

Starhub continues to be supported. Will probably be flat.

Caution Trading

Bearish Pinbar has formed on EUR/JPY and AUD/JPY. Trade with caution.

The Weekly Review: The JPY Short

Last week was certainly a good profit week for those who shorted the Yen. Almost every currency cross with JPY had a very good rally in just a few short days. The rally might continue for the next week looking at the pinbar for EUR/JPY. EUR/USD was stuck at its resistance point when it tried to rally, still it will be a difficult trade for EUR/USD as EUR is still weak and USD is getting stronger. Might look to long if it breaks out of resistance. AUD/USD will likely be moving up next week but be cautious.

Big USD/JPY Rally

US Stocks

There was certainly panic selling as many were dumping their Apple stock after continued decline for many days. But on Friday, there was some buying at the low, forming a pinbar. There might be buying up for Apple. Was the decline a correction or a real decline? Anyway technology stocks are on a decline as it showed the end of Golden Era for technology as nothing new is out that can wow the people.

Singapore Stocks

Singapore stocks continued their decline following the US. Noble Group continued its panic selling by big investors as there were big gaps at every open. But as a Chinese saying: "For every crisis there is an opportunity". Value buyers may lap this up at low price.

Noble Group

Genting found support on Thursday and moved up on Friday. Punters may look to buy into it.

Genting SP: Bullish pinbar after a bearish pinbar

Commodities

Covering gold for this blog for fun this week. As many were wondering how much higher will gold be? Let's look at the big picture.

Monthly Chart of Gold

I used the monthly timeframe to look at gold. Certainly gold had a steady rise over the years since 2002! Gold was seriously cheap at that time! But if you look at gold before 2000, the price of gold was steady between $200 and $300. Now it is at the price of about $1700. Will gold rally further? Nobody knows. Looking at the past few months, price of gold was supported after its decline and than rallied up, then declined again. So gold price will probably be stagnant for awhile. When gold price drops below the green support line, thats where big funds are going to sell.

The Weekly Review: Aftermath of Obama Win

Obama won the election. It was a close call as Romney garnered as many votes as him. In the end Obama wins. Wall street wasn't delighted by his win as his continued legislation means nothing will change in terms of monetary policy except for a possible tax rise for companies and wealthy people at the end of the year when Bush's tax cut policy ends. Romney, on the other hand, proposed tax cuts for companies and government spending cuts. No doubt Wall Street was hoping for Romney to win. Markets were bullish for awhile when Obama was announced the winner. Then later it when into a massive selloff. Short sellers sure made a good killing.

The Euro had massive selloff. The pinbar was an indication of the impending short. It will still get very tricky next week to trade the Euro. But look into JPY instead.

Bullish Pinbar in USD/JPY

Bullish Pinbar has formed in USD/JPY. Friday markets did not sell off as markets were taking profit due to the fact it is the last day of trading week. Also some currency pairs have touched their support. Might look for a long next week.

Singapore Stocks

Noble Group had a disappointing earnings report. Share price plunged massively during opening. However, Wilmar had a different story. It had reported better than expected earnings. Shares surged on opening. It is still stuck in a range for now. Value buyers might look into this stock.

Wilmar

The Weekly Review - Tablet Wars

Another bumpy week, EUR/USD failed to move up resulting in a bearish pinbar rejection. Needless to say what happens next, a very good short. On the other hand, JPY has been very weak which is a very good long trade for trading JPY crosses such as AUD/JPY, USD/JPY, etc. AUD/USD has been very choppy, slowing chopping up until late night aggressive short by the market several hours after the US unemployment report. Notice the rejection again. Next week will be another tough week to trade as EUR/USD is hanging on breaking point. It will correct up for a while till market decides to bring it up further or push it down again.

Note: If you noticed, my AUD/USD timeframe is in 4h. I find it easier to spot movements in 4h timeframe. However you should always look at bigger timeframes to see the big picture.

US stocks

Let's take a look back at Apple. After breaking down out of the support, it has corrected up, failed to go back and continues down further.

Apple's in trouble recently

Apple unveiled their new iPad mini and 4th generation iPad (Click link to read review). It was quite a pity for the iPad mini cause reviews were praising about the form and weight, the only let down was that it lacked a retina display. If it had retina, I would say indeed it will be beautiful.

iPad mini me

Let's look at Google. Will it recover from its large drop after disappointing earnings?

Recovering from support. But will it hit resistance?

Google had quite good releases lately such as Nexus 7, Nexus 4 and Nexus 10 (Click link to read review). Their Android keeps improving with better UI. The specs are also very good as now most screens have high resolution that is said to be equal or better than Retina. But still the lag when scrolling will bug users. However they are cheaper than Apple's premium and I would say worth your money till Google updates with new OS after Jelly Bean.

Indeed

Another stock which is getting my interest is Potash Corp which is a company that makes fertilizers. Right now is hanging on support. So either it will bounce back up or continue further down.

Potash Corp

Singapore Stocks

Biosensors is looking for a long after a rejection of price.

Upside tick for Biosensors

Osim might be ending its bull run ending the Friday with a pinbar rejection.

End of bull run? Or a trick by BB?

Mapletreelog is not looking good. Currently it sits on support after a big down. This REIT company gives good dividends. But it is on the high side right now. Book your profits if one has bought this on the low price. REITS might be losing steam next year.

Big selldown after a very long good run

Strength in USD

USD/JPY showing alot of strength the past few days. Euro is weak.

Aussie Upside

Aussie continues its consolidation upside, stronger than Euro now.

Euro looks to be strong

Euro looks to be stronger than AUD.

Aussie Upside

Aussie to go upside.

US is closed due to Hurricane Sandy

No US market tonight. However Euro is set to be bearish. AUD/USD to be flat/ bearish.

The Weekly Review

The EUR/USD has been tumbling down for the week. There was a rebound of price within the channel but things has been looking so grim that market decided to take it down further, therefore breaking into bearish mode. I currently it is still uncertain for EUR/USD as if you look into the weekly timeframe, it is in consolidation mode. On the other hand, EUR/JPY is looking bearish judging from the rejection of price. But it seems to be supported and might move up next week. AUD/USD continues to be unpredictable but looks to go bullish as USD is set to drop next week. USD/JPY may drop for a short while.

US stocks remains to be flat/bearish. Tech stocks like Apple, Google, etc remains to be bearish. It is a tablet war out there, iPad mini, Samsung Galaxy Note 10.1,  Google Nexus 7, and now Microsoft is joining the fight with its Windows 8 tablets. It is holding its triumph card: MS Office included for tablets. Clearly aiming out for masses who needs to use MS Office while on the go. Consumers will be be spoiled for choices this Christmas.

Microsoft's Surface Tablet

Singapore stocks remains flat. Noticed that most stocks are beaten down. Even as US had like -100 pts drop, many stocks remain to be flat. Is there nothing to sell anymore? The situation now is weird, and I just read that money are pouring into Hong Kong Market. Funny.

Sometimes I miss out checking certain gems (too many stocks to track!) like Osim. Was out of my radar for quite some time till I decided to revisit and check it out. Too bad it has risen alot now. Check out the growth! BBs were buying massively!