Tuesday, May 02, 2006

The tide may be turning

Its an unusual week. Unusual because i haven't take alook at any interesting stocks this week. But one gets the feeling that the next week the china stocks will not have a good week with the possibility that the chinese government will slowly raise rates.

Its always nice to see some of your favorite stocks trend lower. That is the case for some of the stocks taht i am looking at right now. ElectroTech has retreated from its high of 0.63.Good entry point now that MCAD and RSI weakening, but i feel its better to stay in cash for the near future. The market risk is high enough to warrant such a defensive position. One needs to learn to be more patient, knowing that in time a much more favorable scenario will unfold.

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