2008/10/28 market watch

FACTS:

BIG VOLUME UP, MOSTLY AFTER 2:00PM.

 

SURFACE REASONS

1. EXPECT FED BIG RATE CUT
2. BUY LOW.
3. 10/31 IS FISCIAL YEAR END OF MOST FUNDS, NEED BETTER LOOKING NUMBERS. BUY BACK THOSE BAD LOOKING STOCKS AND TRANSACTION WILL NOT SHOW.

 

TECHNIQ:

1. MID TERM BOTTOM WAS CONFIRMED AT  840-850.
2. AROUND 1000-1050  IS THE RESISTANCE ZONE.

3,  NEXT RESISTANCE ZONE IS 1230-1330.

 

FORECAST

RALLY OR CONSOLIDATION?

 

TOMORROW:

BUY IF PULL BACK.

 

LESSON:

 

PENNANT FAILED. 圖形在未完成前不要急於預測. 完成後可能滯後.

絕對數字可能更重要.