Thursday, September 9, 2010

Stock market analysis

Am going to keep this post short dear readers as there is really nothing much to say about the action today. It was another day of consolidation for the bulls. I don't think the markets are don't consolidating here. A small pullback from here on and the indices should be nicely set up to take on the MA(200). Hopefully, we should start seeing the volume pick up from next week. Here are the updated index charts. The support and resistance levels haven't changed from yesterday.

Personally, I got in LDK at 8.00 today expecting it to breakout after a break of 8. I got stepped out at 7.95, leaving me with a loss of 0.62%. I had got into the stock expecting a breakout and when it didn't occur, there really was no reason for me to stay in the stock. Simple, isn't it?

I will be back later this evening with the Chart of the Day. I will also be going through my scans this evening and will post a watchlist if I see any interesting setups out there.

Take care and good luck!

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