Pilobolus Equity Research: Chinese Stocks Lower: Short Scalp: Huaneng Power (HNP 38.29) chart appears over

Tuesday, January 9, 2007

Chinese Stocks Lower: Short Scalp: Huaneng Power (HNP 38.29) chart appears over - extended

Rational: HNP appears over-extended from these levels and seems probable to pullback to it's 20 day EMA (36.24). Momentum has moved into overbought territory while ADX numbers has reached outlier levels.

Target: 36.24 (20 day EMA)
Stop: 39.25 (above today's high)

About Pilobolus Research

Seth F. Wolff
A ten year institutional market strategist formerly with IdeaGlobal & Charles Schwab (Cybertrader Corp) advising institutional clients in the equity,commodity and fixed income area, with prior roles in institutional research sales in North America. Seth has also appeared in media coverage including Dow Jones and Bloomberg. A graduate of the University of Arizona with a B.S. in Finance and continuing studies at NYU Graduate Business School, Seth has also been a member of the Market Technicians Association (MTA) since 1990.

Disclaimer: Pilobolus Equity Research obtains information from sources deemed to be reliable; however, Pilobolus Equity Research does not guarantee the accuracy of any of the information or commentary provided. Pilobolus Equity Research makes no warranties, expressed or implied, as to the fitness of the information for any purpose, or to results obtained by individuals using the information. In no event shall Pilobolus Equity Research be liable for direct, indirect, or incidental damages resulting from the use of the information. Pilobolus Equity Research shall be indemnified and held harmless from any actions, claims, proceedings, or liabilities with respect to the information and its use.

Pilobolus Equity Research

Tuesday, January 9, 2007

Chinese Stocks Lower: Short Scalp: Huaneng Power (HNP 38.29) chart appears over - extended

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