Just received email from my master Jason Ng on the launching announcement of Master Star Trader Web Medal. In conjunction with this, all Master Star Traders were awarded with the Master Star Trader web medals as an official recognition.

Being 5 times Master Star Trader, I was awarded with 5 Master Star Trader Web Medal:

The Master Star Trader award was started in Feb2005 in order to reward and give reocognition to Star Traders who perform well. Only the BEST star trader every month qualify as the master star trader, winning themselves not just honour but also cash prizes from Masters ‘O’ Equity.

The Master Star Traders’ Web Medal Scheme was Launched on 8 Feb 2007 as an incentive program for all Star Trading System students.

All graduants of the Star Trading System course are eligible to compete in our monthly Master Star Trader competition where the most profitable student for the month emerges as the winner and crowned as the Master Star Trader of the month at The Hall Of Fame Blog.

Master Star Traders will be showcased in the Master Star Trader Hall Of Fame page and will also spend 1 month on our front page. On top of all these, Master Star Traders will also be awarded a prize money of US$100 and the Master Star Trader Web Medal.
Sign Up For The Star Trading System Training Course And Be A Master Star Trader Today!

by Jason Ng, Founder, Master ‘O’ Equity

FUNDAMENTAL ANALYSIS
Markets took a beating as a snow storm takes New York city today. The chill seems to have set in on the markets as well as the Dow took a 0.45% beating and the Nasdaq composite erased 7 days of gains, collapsing down 1.16%. Everything in the world seems connected in all ways. A comfortable warmer winter gave the markets a boost and when the snow come back, the markets go into hybernation too. This avalanche was due mainly to a severe letdown in the Financial and Tech sector as borrowing rates increased. Let us not forget that the Financial sector contributed to 8% of the 11% growth in the S&P500 and a correction in the financial sector will certainly make itself heard. Decliners in the Financial Services sector led advancers by more than 3 : 1 and decliners in the Nasdaq 100 led advancers by more than 8 : 1! The Fed’s hawkish statement underlying that inflation is still a concern further depressed investor sentiments. Next week is another week of economic releases and that could be another reason for the bail out today. Investors would want to play it safe by taking profits off the table before the uncertainty set in next week.

TECHNICAL ANALYSIS
I was surprised today at how readily the markets corrected today by such a great magnitude. I expected the Dow to take a slight dip before it climbs to new highs and that the Nasdaq composite will struggle against its 2500 resistance level but what surprised me was the magnitude and the readiness at which it happened. Well, what was again not so surprising was that the markets are used to doing things like that anyways. That is why technical traders like us read the overall chart patterns and not get all caught up with what happened on any particular day. Both the Dow and the Nasdaq Composite closed near their 30 days moving average support level, which are still healthy. As the indices are still only very slightly off their short term overbought condition, it will not be strange to see Nasdaq trade sideways a little for a few days along the 30 days moving average before mustering enough energy for another charge. As for the Dow, I see that it has completed another step in its staircase formation and is ready for a rebound to new highs and we might see that happen within these few days. But does that mean that the Dow will continue to rise endlessly? Definitely Not. So what will the first indication of a correction be? A Close Below The 30 days Moving Average.

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