While Capitaland became percolate with a massive breakout today and when the mass public thought that this breakout could last till next week, I am looking for opportunity on the short side. Why?
1) I don't see enough evidence of a true accumulation or tiring process to wear out the premature bulls.
2) This could be a technical rally because it has been on the down trend for a long time since last year Sep.
3) An explosive volume today which could be profit taking by the big boys.
4) Big boys would never allow public to cheer. They might have created a breakout to allow the public to buy while they secretly took profit and depress the stock.
Whatever the reason is, on Monday, let's watch how much follow through are there for today's breakout and decide if the bulls shall continue it's uptrend or the bear emerged which permits a short sell.
Ronald K
