STX PO forming a GAP

For those who are following STX PO, I am predicting the listing date on Seoul Exchange to be after 19 Sep, most likely on the week of 24-28 Sep. Fed Reserve is scheduled to meet on 18 Sep (US date), this time round another rate cut is highly possible. I think the company will plan its listing on Seoul after Fed meeting to give the stock an important boost on opening day.

In less than 1 week, STX shares has risen 30% to $2.9++, volume continue to remain high. Some say it’s another Cosco in making, and I also believe there is a chance.
One more piece of good news, a ‘PRICE GAP’ has formed today on STX’s daily chart. For those who are unfamiliar with Tech Analysis, a Gap refers to the spread in price between yesterday’s high and today’s low. Sep 4 price hit a high of $2.61, and today’s low is $2.68, a Gap of 7 cents. An Upside Gaps, like this one, are sign of a shares strength, and the price at the Gap ($2.68) acts as a very good support. So for those who brought the shares below $2.68, you’re in a very good position.

Tempted to cash out? Please don’t! Do yourself a favor, wait for 18 Sep, at least. If you are not convinced or really need to exit, do it a bit at a time. I agree it’s not easy to capture the top, but letting go all at one shot will give you more heartache if the shares finally hit $5.0.
With consistence high volume, this almost feels like Genting right after the IR announcement. The different is, the stocks are yet to be listed, and so the climax has yet to come.





Side track a bit, the picture above is Bear Stearns Office at mid down Manhattan.
The high profile collapse of 2 of its hedge funds involved in Sub-prime loans started the Aug worldwide market corrections. And thanks to Bear Stearns, we have the opportunity to really buy low, sell high.

Disclaimer: All shares recommendations in this Blog are my personal opinion. Readers are encouraged to do their own research before investing. Remember, it’s your own money! I will not be liable for any losses incurred.