BINTAI Is Out Of My List

Bintai (6998) broke the support of RM0.515 which was the recent low. Bintai is out of my Cup-with-Handle list.
My remaining list :
BRIGHT 
MKH 
PWROOT 
REDTONE 

Weekly Global Check

Dow Jones Industrial Index (DJI) has been bullish based on GPMMA and it went up by 187.73 on Friday (27 July 2012) and closed at 13075.66.

The followings are Global Indexes Weekly Checks : 

DOW JONE = Bullish 
NASDAQ = Bullish 
S&P 500 = Bullish 

FTSE = Bullish 
DAX = Bullish 

HANG SENG = Bearish (back to bearish again)   
SHANG HAI = Bearish 
NIKKEI = Bearish 
SEOUL = Bearish 
STRAITS TIMES = Bullish 
TAIWAN WEIGHTED = Bearish 
KLCI = Bullish  

HSI (Hang Seng Index) dropped for the whole week and bounded back a little making GPMMA turned bearish again. 

The Weekly Global Watch

I will try my best to update the weekly issue of 'The Global Watch' based on GPMMA in order to get some idea of the overall market situation.

DOW JONE = Bullish 
NASDAQ = Bullish 
S&P 500 = Bullish 

FTSE = Bullish 
DAX = Bullish 

HANG SENG = Neutral (waiting to close over to bullish)  
SHANG HAI = Bearish 
NIKKEI = Bearish 
SEOUL = Bearish 
STRAITS TIMES = Bullish 
TAIWAN WEIGHTED = Bearish 
KLCI = Bullish 


It looks like there was not much changes accept that Hang Seng Index turned to Neutral from Bearish last week. 

BINTAI - Cup-with-Handle Trade?

With recent high of RM0.63 then consolidation, BINTAI (6998) has potential for Cup-with-Handle trade. I am waiting for the break up; 15% increase for Bollinger Band.

So far our potential Cup-with-Handle stocks are :
BRIGHT 
MKH 
PWROOT 
REDTONE 
BINTAI

The Higher The Market The Shorter The Trading Term

I think it is important to know that as the market goes higher, the risk is getting higher too. And so we should trade stocks in a shorter term bases (Short term means between the month latest not more than two months). Cup-with-Handle Trade seems to be the way to go.  

The cut loss point is short for Cup-with-Handle. Any change in market condition, we are out. The losses are kept in minimum. 

My watch list for Cup-with-Handle so far are : 

BIRHGT
MKH 
PWROOT 
REDTONE

GPMMA Global Watch - Nothing Changed - Neutral

The followings are the major markets indexes on GPMMA so as to get some idea of the market direction. 

DOW JONE = Bullish 
NASDAQ = Bullish 
S&P 500 = Bullish 


FTSE = Bullish 
DAX = Bullish (It was Neutral last week) 


HANG SENG = Bearish 
SHANG HAI = Bearish 
NIKKEI = Bearish 
SEOUL = Bearish 
STRAITS TIMES = Bullish 
TAIWAN WEIGHTED = Bearish 
KLCI = Bullish 


It is obvious that Asian markets are in bearish except Straits Times (Singapore) and KLCI (Malaysia). While US market and Europe markets are all bullish. 
As long as the major market ; US and Europe are doing fine, we are OK. 

Take Care Of Down Side, Upside Will Take Care By Itself

No body knows for sure the direction of KLCI or the entire markets. The best think to do is to rely on technical analysis. In this case, I would use GPMMA of closing over for direction; bullish when closes above and bearish when the blue lines (5 lines) drop below the 5-red-lines (entirely not partial blue lines).

KLCI closed at 1626.38 on Friday 13 July 2012. The blue lines stayed well above the 5-red-lines indicating that the market is still bullish. 

We have to constantly monitor KLCI and the rest of the indexes including the global ones like Dow Jones, Heng Seng, Shang Hai and Dax etc. for direction based on GPMMA.

Take good care of the downside and the upside will take care by  itself.