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I will say its buying time for those who can take it. Or u can wait till it goes back to 2900. cheers.
have some faith lah....fundamentals for GOOD co. dont chg overnight rite? bargain hunt at your own comfortable price :)
CNY rally will come...not necessary BEFORE CNY hor ! :P
cheers!
more like CNY Panic than CNY Rally... anyway, this is from DBSV Daily today. It's quite right in reflecting the behaviour of retail investors.
"We observed that the typical investor/trader behaviour during
the past 3-4 weeks was that of a desire to bargain hunt
thinking that prices are now cheap. If our view for STI to fall
to 2500-2600 pans out, then investors have been in a
‘disbelieve’ mode the past 3-4 weeks and that is now
switching to ‘panic’. Panic is the acceptance that the stock
market has topped out and thus, the rush to reduce stock
holdings. Base on this, STI should head for 2590. The nearterm
resistance is shifted lower to 2720 and along the way
down; the next interim support is at 2740. The closely
watched Hang Seng Index should trend down to 19200. A
gap down below 20,000 should mark the resistance level
there.
If you are not holding any position, it is time to free yourself to celebrate CNY. The risk level is high.
The market is not low enough for buy.... Wait somemore time....