Thursday, August 18, 2011

YZJ - The Renewed Weakness

I was actively watching yangzijiang and just when I thought it was going to trend higher, I saw a massive selldown at 10:20am and the stock tanked down from 1.14 to 1.12 within 1 min. This is distinctive bearishness in my opinion. Another bearish indication was STI is currently participating in a rally while yzj remains stagnant! Well, anything can happen in the stock market, let's continue to watch!

Update August 18th, 2011 17:56PM

Anyone shorted yzj after my post in the morning? My analysis went in tandem with the market's bearishness and you could have made a lot of money today!

Ronald K