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Wah ... Just came back from Tea break and now STI crash 100 points !!!
then, alert all of us, it is a good buying opportunity what.. heee..
no need so big fonts!
CRASH THE WHOLE DAMN MARKET !
split second rebounce back abv 3000... hope it maintain abv tis support upon closing..
com'on.......
NO! Now STI is standing at 2999.87....
SUper critical last two hours!!! cross fingers
broke liao.. hold for too long.. at last.. given way. .
Market sentiment are very disgusting poor now... No matter what good news company have or whatever so..... It only head one direction which is SOUTH!!!!!!
Hope it wun break the Impt 3000 lvl... cross fingers.
we are tat close to break 3000...... 3pm will b crucial..
From CIMB this morning:
Immediate outlook: The new Straits Times Index?s (STI) fell below its 3,268 triangle support last Monday, prompting sellers to start their selling activities. Now that the support has failed, we are rather bearish right now. With indicators still in negative territory and the index below its 100-day SMA, it is not time for investors to go all out to buy. There could be a minor short term rebound from here or from the psychological 3,000 support. Nevertheless, any rebound should be seen as an opportunity to cash in rather than an opportunity to buy. More risk-averse investors should wait for the dust to settle before getting in. If the index breaks below the 3,000 support this week, it could be heading towards the next support at 2,900.
Medium-term outlook (2-6 months): Looking at the weekly chart, we also saw a breakdown from its middle band support. Hence the medium term outlook has also turned bearish right now. Earlier, we expected the index to push past its 52-week high of 3,831 in the next 6 months. Now that the index has broken below its middle band support of 3,220- 3,350, the odds of that happening is greatly reduced. We now expect further downside ahead with the next strong support seen at its major trend line support of 2,768-2,890. Its 38.2% Fibonacci retracement level is also at 3,814. The previous support of 3,220-3,350 is now the medium term resistance level.
Those who got this ebook: Trade Secrets Video System with me should know how i am going to trade the market today.
therefore those who got the ebook pls browse thru again as one of the 4 setup may be done today. watch tight for big profit may be coming..
Now is actually a good time to rebalance your portfolio if you are holding onto too many shares or shares that are non performing. It would mean appreciating the fact that selling eg share A at a loss, and putting the capital in share B is merely a transfer of capital. You just lose the brokerage fees.
In a severe correction like this and when you are holding onto too many shares, to work out your net position fast and deciding on the appropriate action would not be easy.
Agree with cashiertan that we should be in e wave 4 period.
However, there is still no sure sign of reversal and indexes are struggling with very high selling volume.
I've posted my opinion @ www.bear-analysis.blogspot.com
Comments welcome!
Though there is no trading on Mon on DJ, but for Spore, its a good buy on Mon, if ST declines once market open, then buy in when there is U turn. There is exception on BIG, buy in whatever you can, but not over 1.15. No more Short activities next week. Cheers.
There is no sign of a reversal yet in my opinion. There is no higher highs and lows for the indices. Add that to the fact that volume has been very heavy and that confirms the downtrend is in place. U can see the charts of the indices here.
yesterday big swing is due to optuion expiry. the bearish thing is it close lower thou there are more put options in the markets. the only good thing is vix is near 30. signalling a reversal maybe in sight. and the current price is at rising trendline support. what i dun like is the massive sell volume which is not likely by the retailer. more like BBs.
It's a big swing last night, I saw it going up and down. I guess it will be like this for this quarter untill the sub-prime saga ends. If reccession worry still lingers in the investors' mind, then we would be seeing more downturn. 12,500 level reached, next support is 11,800. From last night's swing, looks like we still have quite a bit of downside before it consolidate at that level (if that ever happened).
still no sign of bull. it seem there is more selling of DOW yesterday than buy. would suggest sell on rally. i will have to recount the elliot wave. hope the uob kayhian elliot wave analyst is not wrong as he also think we are in wave 4..
I certainly agree with U all. however we are just like a boat in the sea, got to follow the tides.
Yes, the current situation was mainly due to US uncertainty