Profit from USDJPY

Taken profit of 157.3 Pips from USDJPY after the news when prices started to reverse back after hitting a resistance.

The Weekly Review: Up?

The USD pairs all went up after news from the US side. AUDUSD continues its strong state. USDJPY seems weak and still stuck in a consolidation.

EURJPY is cautiously moving higher.

US Stocks

As mentioned previously, Dow Jones Index is in a big consolidation.

Hong Kong Stocks

Watch for Hang Seng Index and China Index (Not SG China stocks). I'm seeing a potential bull coming up.

Singapore Stocks

STI is playing cautious. But a potential bull in the making?

The Weekly Review: Rebound of Dow Jones

EURUSD ended with a damper on Friday. Is it a correction? AUDUSD seems to consolidate but looking strong while USDJPY still stuck in consolidation.

US Stocks

Dow Jones Index rallied on Friday (could be just a short covering). Based on my chart, there is still some more to go before reaching its support. So watch for it next week.

Hong Kong Stocks

Hang Seng Index has a bit of jumpy mood. Where is it heading? Currently it looks like it's in a downward bias.

Singapore Stocks

Seems like Capitaland is continuing the selldown from its consolidation last week.

Has Noble Group finished its accumulation and pushing to new highs?

Friday was a historical day for penny stocks as something big happened. 3 stocks were suspended for their sudden big fall in value after a such a big run up. One of them is Blumont, which I believe alot of punters were punting. And I guess its because of recent popularity of punting penny stocks in Singapore has caused an excessive push in value. And given high manipulative nature of these penny stocks, fall will ensure to trap retail investors. But to this magnitude, its the biggest I have ever seen! I believe many poor retailers were burnt very badly and worst if they were in contra. This is just scary.

The Weekly Review

This week the EURUSD had an indecision week ending in a doji. AUDUSD went down after that pinbar while the USDJPY slumped. What will happen next?

US Stocks

Dow Jones index has fallen to 50% of its rally. Will it continue to fall or bounce back up? Could be a chance that it will continue downwards as it looks like going for a big consolidation.

Singapore Stocks

Many good blue chips are undergoing a consolidation as it waited for more direction. One of them is Noble Group, after a huge rally, its now consolidating. So are the BBs accumulating or they are actually dumping stocks to the retailers?

The same goes for property developers like Capitaland and Kepland. We shall see how it move next!

The Weekly Review: Making Yen Cheap

We had a very big rally this week thanks to the BOJ. JPY crosses were explosive. EUR sets for a comeback while the AUD/USD looks bearish. AUD now looks stuck at the support waiting for the breakdown. USD/JPY might continue to rally as it broke out of the high.

US Stocks

Seems the Dow Jones Index fell last night and recovered. Still stuck in a consolidation range.

Has Amgen finally reached the top?

Singapore Stocks

Singapore stocks looked very weak on Friday with most stocks plunging down.

Genting on the lifeline.

Properties looking weak.

But REITS are still going strong.

Commodities

Gold had reached its major support and rebounded.
Let's take a look at the weekly.

Will gold rebound? Or will it breakdown and cause a gold panic?

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: 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