Marubozu - My Stocks Investing

GoldenAgri – A strong resistance to break!

Post author:Marubozu
Post published:October 12, 2009

GoldenAgri is having a very stong resistance at $0.493 to break before the stock price to move uptrend. It is also testing the 20D and 50D MA resistance level. It looks like a double top has been formed too. Base on the chart, bear will take charge in the short term. GoldenAgri really needs a strong bull to break all the resistances to go north!

DRYS – Forming A Wedge

Post author:Marubozu
Post published:October 11, 2009

DRYS has formed a wedge and currently testing its 20D & 200D MA. I will accumulate DRYS shares if it retraces back to $6.20 to $6.50 price range (wedge support). $6.00 is another very strong Fibobacci support level.

The probability of the stock price goes below $6.00 is low because the global economy is recovering and the Baltic Dry Index (BDI) is showing an uptrend. If this upward trend continues then that will be the proof that the economic uptrend will continue into 2010. The BDI is a great indicator for the demand of Dry Bulk goods (Coal, copper, lead, silver etc.). Increase in BDI equals increase in global economic activity. That also indicates the Dry Bulk Shipping Companies will have a better earning performance in the next few quarters.

China Fishery – Insiders Buying

Post author:Marubozu
Post published:October 10, 2009

Two substantial shareholders of China Fishery (Pacific Andes Limited and Golden Target Pacific Limited) started the shares acquisition at $1.16 since Aug 18, 2009.

The shares acquisition is still on going and the trading volume is pretty thin for the past two weeks. Normally it is a good sign if there are insiders buying.

In addition, the stock price is on a nice trend (200D MA on a up trend). Although I have sold half of my positions to take profit, I am still holding half of it as long term investment amid the concerns of big correction. I am watching very closely whether the stock can stay above the 20D & 50D MA if the correction comes. If yes, I will probably increase my position in this stock.