WED 16 SEP 09/26 Ramadan Wrap/ Eid Mubarak

another 0.9% up leg in this small congestion printed today by EGX and impulsive run by other middle east exchanges

I closed 4 positions today before the Eid holiday (Sunday, Monday) and because they begin to retreat after touching the upper boundary of their sideways action

and they’re: SUGR, IDEA, ETRS, UNIP and I’m very lucky in them cuz all of them are profitable specially SUGR regardless their short lives

and from the watch list posted yesterday 3 positions only triggered to gain some profits from this Eid run: IRON, ABRD, CEFM

I didn’t scan the charts today cuz I will not be available the next week, I will be in holiday trip to calm my mind and will follow my trades via phone

TUE 15 SEP 09/25 Ramadan Wrap-up

finally the middle east markets agreed on something and closed green today except Doha Exchange and the best performer was TADAWUL, yeah it’s weird I know

today no position closed but three new positions triggered in: NCGC, CSAG, ECAP

now we’ve 12 active positions 4 MT and 8 ST, 6 in green and 6 in red

some stocks to watch for breakout and the modified weekly watch list

Monday 14 SEP 09/24 Ramadan 1430 Wrap-up: Middle East Stocks

EGX30 (the main index of the Egyptian exchange) printed another down leg today –1.4% in this sideway below august high and taken the small pivot 6655

our portfolio transactions today: closing both MNHD and EREC, the first at BE and the second with good profit 1.6R/1R

and new 4 positions initiated from the watch list posted yesterday

and they’re: ALCN, ETRS, NASR, UNIP and all of them from the same industrial sector, I don’t know what’s cooking in this sector but history tell those are the main sector movers

the middle east markets retreated more today after the prior week surge and the only advancer was the Saudi Exchange TADAWUL

some stocks to watch for tomorrow Tuesday and the modified weekly watch list too

 

Monday 14 SEP 09/24 Ramadan 1430 Wrap-up: Middle East Stocks

EGX30 (the main index of the Egyptian exchange) printed another down leg today –1.4% in this sideway below august high and taken the small pivot 6655

our portfolio transactions today: closing both MNHD and EREC, the first at BE and the second with good profit 1.6R/1R

and new 4 positions initiated from the watch list posted yesterday

and they’re: ALCN, ETRS, NASR, UNIP and all of them from the same industrial sector, I don’t know what’s cooking in this sector but history tell those are the main sector movers

the middle east markets retreated more today after the prior week surge and the only advancer was the Saudi Exchange TADAWUL

some stocks to watch for tomorrow Tuesday and the modified weekly watch list too

 

Middle East Wrap-up Week 37/2009

 

UAE rocks this week and the others still in sideways

the portfolio update and the watch list for tomorrow and the next week will be posted later today

Middle East Stocks Weekly Wrap-up

the main market index EGX30 print 1.1% in Thursday, the last session in the second week of Ramadan month, I hate those short sessions, you can decide or trust them

after the sell off from 6790 we can see this session as upward correction and we cant talk about uptrend continuation before good signal

so three senarios here: congestion, upward by taking the peak, downward by taking 6500

 

    

EGX30 daily/weekly charts, click on them to enlarge

if you’re a fibo believer (I’m not) then you need to note that the market resting on the 38 ratio from the big down leg

our stock basket this week has 39 decliners, 3 unchanged, 19 advancers

and the sector performance table sorted by the weekly change and off course the healthcare sector on the top as usual in the indecision times

other middle east exchanges still the worst performers in the region specially Saudi’s TADAWUL

I’m frustrated from them and begin to miss the value of their daily tracking and scanning!!

It has been long when we saw the last opportunity their…

EFG Hermes is the best broker Again

EFG-Hermes Securities Brokerage was again the number one broker on the Egyptian Exchange, the Abu Dhabi Securities Exchange and the Dubai Financial Market in the first half of 2009 according to data independently available from the region’s stock exchanges covering the first six months of 2009. AME Info

congrats..

The Week Wrap 23/09, Golden Cross

new high printed this week and the market broke 6,000 closed around 6240

do you remember the famous 6400, watch it closely if we continue upward the next week

golden cross on the daily chart the 50MA crossed the 200MA, this is good as you know even if we will see some retracement

also the Gulf Markets did well this week, the best performer was DFM (Dubai), the real estates recovers much of their losses, energy stocks in Abu Dhabi

Best Brokerage Firm of 2009: EFG-Hermes

“It is an honour to be recognised by the Egyptian Exchange and GTM,” said EFG-Hermes Securities Brokerage managing director Sherif Cararah.

 

Congrats

Trade Arabia

Egyptian Exchange Wrap-up 08 JAN

Is this a begin of coming correction?, the market run this week and then erase the week profits

we will see what the last bar refer to in the next week

the Other markets we track performed well too except the Kuwait exchange which witness 5.28% drop

for EGX if we are in a big upward correction then we can look again for the Spread indicator to see where we are and a possible resistance level, the strongest level we can see is -27% under the MA and this at the current MA value around 5900 for the case, lets see if the correction will go this far or we just end here