Wednesday, July 18, 2007

Ugly. Simply Ugly - Except for Hyflux

And I'm not talking about Ugly Betty. A lot of the penny stocks charts were badly " damaged " by today's actions. Would probably need a few sessions to get a clearer picture. All said, it doesn't mean that all is doom. Some counters may face a slight retracement whilst others will lose more ground. The market will need to clear some back-log, before action comes rolling back again.

However, one of the counters that was totally unfazed by what happened today is Hyflux. It looks like a Bull Flag is forming. I'm watching this counter closely.

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