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Dear Member:
I'll be travelling on Friday so there won't be any activity for me. I think that may be just as well since volatilities are pushing up a bit and that could be a bearish sign. After a fairly strong move, the markets are showing signs of at least taking a breather and I would not want to put on any new positions, particularly bullish ones, right before this weekend.
Though I won't be able to trade tomorrow, any further decline in Taiwan Semiconductor (TSM) is reason to exit. As of now, the candlestick may be signalling a reversal back up, but that formation needs to complete today and requires confirmation tomorrow.
I am also looking at a reentry on CDC Corp (CHINA) which I have already played successfully several times. It needs a bounce for me to get back in, and looks as though that could happen.
Bill Kraft
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