finally … the market did it and saw the reality of results
our chosen 53 basket of stocks which we always follow haven’t any advanced stock except BIOC.CA and 48 stocks record more than –3% today
all the active positions liquidated today except AITG.CA cuz the Up Gap and the stable performance, all of them closed in profit except ENGC loss of the half risk and CPCI closed at BE
this is the importance of tight stops in times like this
of course the pending orders list didn’t trigger any position today or gone near they entry points
many stocks will show Short tomorrow if the lows of today taken, some of them in the next table:
and the bad companies results continue today
- Beltone Holding dips 88% in 1H09 results
- October Pharma Egypt dips 43% in 1H09 results
EGX30 Sell Signal 19 August 09
Posted by Ghareb on August 20, 2009
The main index did it today and shows sell after the taken of the pivot 6232 and closing under it (-1.7%)
breakout of today’s low 6187 confirm this and breakout of its high tells that there is either false sell or coming congestion …
the watch list of yesterday didn’t activated (NASR didn’t take the entry and Gap in NEDA)
many of the shorts in the prior watch list worked well and many stocks signaled short today too like ABRD, ASCM, AUTO, ECAP
also there are some interesting stocks too you can watch them tomorrow:AMOC, COMI, HRHO, IEEC.OTC
if any of them take the high of today without gaps then it’s ok to buy in them with tight stop
Active Orders list still has AITG who yield 40% until now without rectracement
Posted in Market Commentary, Pending Orders, Wraps | Tagged: EGX, COMI, HRHO, ASCM, NASR, IEEC, AMOC, NEDA, Egyptian Exchange, Market Commentary, ECAP, ABRD, AUTO, 2009, Pending Orders, البورصة المصرية, AITG, August | 2 Comments »