Recap - Sembcorp, Sembmarine, Noble and Olam

Just to a quick recap of the various positions i mentioned last week plus olam.

Sembcorp Industries

My initial post was here. The stock hit my initial target today. Still looking strong. Let's see if it can hit the $5.30 - $5.40 target in the coming days.

Sembmarine

My initial post was here. Hit my first target today. Let's see if can reach $4.70 - $4.80.

Noble

My initial post was here. The counter was actually on trek a few days back when it touches 1.11 but unfortunately, i think it was also dragged down by the muddy waters incident. My view of a rebound back to 115 is still intact.

Olam

While this is not exactly my favorite counter in terms investing, it is nevertheless "too late" to short now unless you see a meaningful rebound back to $1.80 area or a decisive break below 1.50. In any case, there are no scrips available and from what i understand, the scrips were loaned out at 10% p.a. I think a short squeeze for a rebound back to $1.70-1.80 is on the cards. The Muddy water report has been released and the link is here --> http://www.muddywatersresearch.com/research/olam/initiating-coverage-olam/

The stars are starting to appear for some stocks..

You must be wondering why i wrote this post last evening about looking out for shooting stars and evening stars etc. This is because this is usually the first sign that the market is undecided and hints of possible corrections.

Some of them have appeared and if you are a trader, it will be good to tighten your stops when a doji or shooting star first appear. 

Just scan through the charts and i am sure you can catch some of them. I share some of them with you so that you know how to spot them yourself.

Evening star - Noble. A possible correction back to the 1.25-1.28 region

Shooting star - Olam. A possible correction back to the 1.90-2.00 region.

Evening doji star - SC Global. A possible correction back to the 1.05-1.10 region

Happy stars gazing.