Triple Top is forming in Simsci

Simsci formed a double top and when it made a low of 247.2 last monday, it gave people a wrong impression that bear was in charged. Who knows the next thing is shortist cut losses and it brings to a high of 250.8 last Friday. Hence, a potential triple top is forming.

In fact, the volume of these three tops has a significant impact on buying momentum. I would say, any rallies is to sell. Especially, during chinese new year period and shorter trading hours, there is a tendency that big fishes would like to push up the market and forcing small guppies to cut loss. I would like to look for opportunity to sell any rally!

I will sell at 252.5 and 253.5 levels, I might just average up. Will cut loss at 254.5 level. These are meant for position trade. Profit target will be at 238 or even 235 levels.

Time to short NK?

NK hit a high of 11555 yesterday and started to lose stream today. In fact, minus off the gap down of 100 points, today's range is only 50 points.

Since NK did not break the 120% of AB range (A is 10545, B is 11450), i.e 11630 and today's candle is a dojit with tight range, it seems like NK is losing its up trend momentum too, and a correction is likely to be expected.

If Dow is down again tonite, then any rallies in NK would be opportunity to sell. And if tomorrow it closes at the low, which means a red candle formed, then it is believe that NK will retract to 11100 level (about 50% retracement at least). So tomorrow's candle is important.

Well, let's see if my prediction is correct this time.