This Stock Market Hours Report is brought to you by Jason Ng, Founder, Master ‘O’ Equity

Incredibly, the Dow rallied over 200 points today and gave a small boost to our existing morning star positions. Why didn’t such a big rally give a bigger boost to our positions? Well, you should also ask, why didn’t a drop in the Dow cause our morning star positions to drop too?

That’s the magic and the whole objective behind the selection criteria of the Star Trading System… to choose and invest in stocks that has their own momentum and strength to perform independantly regardless of market conditions.

Thought For The Day : “Traders Always Enjoy A Good Weekend.”

This Stock Market Hours Report is brought to you by Jason Ng, Founder, Master ‘O’ Equity

FUNDAMENTAL ANALYSIS
The Dow staged a rebound today like it did the last time it ditched on 20 June. It is certainly not unusual to see some accumulation after such heavy selling. There didn’t seem to be any convincing market movers today except for some take overs, which has been happening throughout the year, and comments that Bear Stern’s hedge funds will unwind in an orderly fashion. On the downside, we have crude inventory lower than expected for a second straight week, rallying crude oil prices even further. Crude oil prices will certain put some pressure on the market should it continue to move higher.

TECHNICAL ANALYSIS
The Dow looks like it is repeating the exact same pattern it did the last time it came so close to new highs on 20 June. One big drop, followed by one recovery day and then the definite drop down to the bottom of the channel. I maintain the same assessment I had yesterday.

The Star Trading System is also sitting on the sidelines today with an almost equal number of morning and evening stars.

Thought For The Day : “Discipline and Patience Are The Hallmarks Of Every Successful Trader.”