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Leap Year 2008



Today is Thursday on the 28th February 2008. Did you know that this year is a leap year? I have a feeling that STI will see blood tomorrow on 29th Feb 2009. Here's why.

As u can see from the chart,

1) STI past few days tried to cross above the 3120 resistance but it cant. 3 black candles on moderately high volume was formed. All below the resistance. And this is coupled with the fact that Dow rose 100+ points each day for those 3 days.

2) STI shows a trendline break today showing its first signs of market weakness.Very yummy!

3) STI incidentally is at the resistance at the 50-day MA and as I've pointed out in earlier posts, the major trend is still down and any sign of weakness has to be acted upon!

I bought put warrant STI3100BNPeP080328 at 18 cents during closing time. Cheers. Hope it works out. I will expect STI to find support at the 3k mark.

29th Feb 08 Uodate : Dow saw blood...STI down 45 points at 3028. Sold my warrants at 0.205 for a net gain of 13.8%! Cheers...

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