Friday, October 8, 2010

Shanghai Composite: The Tiger Leaps!

My last post, "Shanghai Composite: Crouching Tiger" suggested an impending breakout above 2700. Today, the Tiger took the leap on high volume (+ 3.13%). I have added some long positions with a stop just below 2700. The initial target of 2900 from my last post still stands, with a potential short-medium term target of 3100. Watch out for resistance from the descending trendline.

All the best!
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