***** Next Master the Markets Foundation Course 1.5 days - Sept 14-15, 2009. Call Dolly at 03 4252 4149 to enroll ! ***** The Importance of Being A "Honest" Trader :-) martin_tf_wong@hotmail.com: Feb 8, 2006

Wednesday, February 08, 2006

11:25 am - After wash up to 928, FKLI prepare to selldown

FKLI 50MA is at 921.5 and FKLi is low at 922.0. However, the MACD is the middle.
So there is no setup but a short signal.

Stay out until it cross down and below 50MA.

Yes, this is a good location to short but it is NOT part of MACD setup.

10:10 am - FKLi cannot hold to up and run up

As all the short position got out, the FKLI return back to 925/926.0

9:49 am - FKLI just cannot break 923 - 3 times

As FKLI cannot break the support at 923.0 and time passes by, more and more traders are eager to get out of their short position (like myself), they tighten their stops.

Naturally, all the stops were triggered all the way to 928.0.

I was in yesterday at 924.5 and got stopped out at 926/926.5. My short setup is not based on MACD cross down.