Monday Jan 24, 2011-- The market is down but there are still trading opportunities..

The market is down by 4.46 recorded at 1542.97 but there are still trading opportunities. There were 258 counters up and 548 counters down.

I ran my explorer on Meta Stock and 5 stocks came to my list, namely IRCB(2127), MPHB(3859), MUIIND(3891）, Dutaland（3948） and Jadi（7223）。

IRCB closed at 0.295. The recent high was on Jan 18, 2011 at 0.34. It came down to Jan 21 of 0.275 and rebound today(Jan 24, 2011)

MPHB closed at 2.35. The recent high was 2.44 on Jan 10, 2011. It came down to a low of 2.26 on Jan 21, 2011. It rebounded today.

MUIIND closed at 0.235. The recent high was recorded at 0.26 on Jan 17, 2011. It dropped to 0.22 of Jan 24(today) before it staged a rebound and closed at 0.235.

Dutaland closed at 0.55. The recent high was recorded at 0.58 on Jan 12, 2011. The candle stick chart showed that it was a bearish doji. It later came down to 0.51 of Jan 24 (today）before staging a rebound.

Jadi closed at 0.265. The recent high was 0.28 on Jan 14, 2011. It slipped to Jan 21, 2011 of 0.24 and came back today(Jan 24, 2011)

Takaso (7071) closed at 0.37. You can see black candle on Jan 19, 2011 but on Jan 21 and 24, you can see white candles showing positive sign. Well...

Redtone (0032) closed at 0.185. Sometime you thought the stock will never come down when it is moving up quite strongly. However, when you jump in and buy, you thought it will continue to fly, it came down.

The recent high of Redtone was recorded at 0.215 on Jan 13, 2011. It just came down to 0.185 on Jan 24( today). Will it rebound? I think so.

Salcon(8567) closed at 0.68. You can see two dojis were formed on Jan 13 and Jan 14. Doji shown after a short run up of the market normally can be categorized as bearish doji. Indeed they were bearish dojis because the stock came down from 0.745(Jan 14) to 0.675 (today).

On Dec 6, 2010, Salcon also came down to 0.675 low but it quickly recovered. Will history repeat itself. What do you think? The essence of technical analysis is history will repeat itself. Well, show me again.