What kind of job that you want to do?

During an interview in the past, I was asked what career I am looking for in a job? This is a very interesting question because different age group view it differently. In fact I feel that it applies more toward those young green horns who have just entered the market.

It is more important to them because they have more than 20 years ahead of them and one wrong step and you are in deep trouble for long time to come.

When I started my career path, I wanted to be an Engineer because this has been my life long ambition since the age of 4. At 7 I was inspired by Thomas Edison and by 14 I heard of Leonardo Da Vinci. These 2 have been my idols.

While this is my ambition, reality has never been kind to the path I take. I love the job of an engineer because it is dealing with machines. When I first came out, I told myself that I do not want to deal with people. Machines listen, people don't.

But what do you know? I ended up handling 4 technicians, which later on increased to 15. Then during secondment to China, I took care of a head count of 40 operators. When I switched line to marketing, I have to face client ( apparently they are also people ). Even now, I head a department of Engineers with me the least knowledge in technical term.

Still I don't like managing people because like the cause of third rule, history repeats itself because human never learn.

Technical analysis is very different, it is dealing with human but the code is written in the charts. The trick is to properly reading the chart to get the right pointers. I am standing in the middle of a crowd and yet away from it when I look into a chart.


Fig 1 STI Daily Chart

My last words last night was "what should I be buying?"

I scanned through my target list last night to see which counter would be good for a short term gain and I was quite dumb founded when I realised at the end nothing that I am certain would be a good deal. Well, Fuyu was a good one with target till 0.12 but I was already expecting it would have moved up by this morning.

The STI was like what I expected climbed all the way up and at one point reached a peak of 2,748, a total of 47 points coverage. It however retreated until the day closed at a mere 22 points gain.

The pattern failed to conform to a morning star formation. Worse, I have a shaky feeling that the worst is not over. The wave since 13th May till now seems to be incompleted with the present upward movement to be the 4th wave and there is a fifth coming.

The fact that STI is still clinching on to the negative gradient of the Gann Grid is not helping neither and I feel there some more room to go on the down side. Although both RSI and Stochastic has shown a reversal at from the bottom, there has been no divergence, which I see as an important indication of reversal.

The most important point now is the 23.6% Fibonacci retracement support at 2,667. If STI breaks this line and stay down, most likely we can kiss the right shoulder good bye because STI is now having a double top. It is like one forumer posted, 80% of the counters have shown signs of BEAR.