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STI breadth chart is lagging behind the STI in this 5th wave formation.
In the 1st and 3rd wave the breadth was above the STI
I guess some of you are thinking when is the crash
going to happen again. Should you sell off your shares
is a question on my your mind. I have a simple method.
Now market is seems headed higher. I will let the first market crash hit me. Again at most I lose just one day. But I could be "nearer the mark" then someone who tries to time the market. Thus focus
on the major correction and not the minor ones. STI
dropped today but you can see some shares still
continue to go up.
Only the major correction affects most stocks.
Please trade carefully.
Next month got 5 Mondays.
With market crash, I prefer to let the stocks ride up and wait for thr first crash to hit me. Again at most, I lose just one day. However, I could be "nearer the mark" than someone who tries to time it.
As you can observe, STI might go through minor correction but your share might continue to go up. Thus, I believe in focussing on the major and not minor correction.
Good luck!
Oops typed wrongly :
As market fell, you buy in staggered manner (danger is you might NOT know where is the bottom)
When STI was crashing a few weeks ago, there are 2 ways to put in your positions to grab the "red cherries" :
1. As market fell, you buy in staggered manner (danger is you might know where is the bottom)
2. Wait for the first market rebound and buy back
Strategy 2 would be good. At most you just lose one day. If the "red cherries" proved to be "sweet" slowly grab more (average up and buy more).
Remember to take some profit as STI run up...to new high
Straits Times Index Last:3714.77 Vol:0k -
Likely to close lower tomorrow after going up in last 4 days. Either goes up to 3729 (3759 if mood still super bullish) before closing around 3688. If a lot more people are taking profit, then 3650 is likely to be the next support.
i rather it moves up slow and steadily.. can lose momentum easily if cheong up too fast
good closing.... volume not that bad too....
...
what next? 4000 or 4200?
Should close at 3717 +/- 2 pts today.
The time has come for me to dump my blue chips bought during the market turmoil. Made afe $100ks already.Will wait to pick up during the next turmoil which I think is coming soon.Made afe $100ks already.
Victorf,
Are you still buying in at times when STI is climbing to record ie. these few days?
the catch of making money in sharemarket is that you listen to the market...not to your heart or brain...good luck
it depends on individuals and trading style ...if you have picked the cherries at low, then the risk is low even if you picked some more at high...if you pick the cherry at high, then the risk is higher..for TA, it is easy as buy up all the way if the peak is broken, and sell if the peak is broken below (stop loss) for any big move...and many many more reasons etc...good luck
I think the title should be changed. 4000 is not far away. Last month we see panic selling and STI dipped below 3000. Now STI is above 3700. My goodness. Victorf, shall we go in and buy? By this rate and barring any unforeseen circumstances, STI would be 5400 at end of year.
as i said the recovery will be at least till 8th/15th October ...good luck (when we picked the cherries at near 3000 points and now collecting to the bank)
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* Alert Admin |
Surprisingly, the market choose to move up in the next three months (August, September and till 8th/15th October to be confirmed the exact date in october)....while there will be some consolidation on the way, it will be "higher up" rather than "lower low" at least till 8th/15th October ...i would advise to buy in the rebound for the next two months...good luck and it is good to know that certainty is back to the market |
you see how crucial the next 2 weeks to the movement of STI for the next 3 years as i said in August...that is why the market made a move...not us.
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DnApeh, no one knows and it depends on the strength of recovery by october...if the previous high of 3600 plus points not breached by then, the market may be in trouble for the next 3 years, else it will carry on to move up till 2010 (maybe till 5000 points which is unbelievable at this stage i know but market always gives your surprises in long term)...good luck and let's see but at least we know the short term trend :) |
left_bug, if you have adopted the same thinking when there is a downturn, you will have made money..but always subject to market and not us...good luck :)
From your wording "Upturn - The more upswing of STI, the more I get scare. +600 points in a month. (because you think it will go down)"
Transform to "Downturn - The more downswing the STI, the more I get happy. -600 points in a month (because you think it will go up)"
I suppose many are selling on strength to take some profit as well. At the same time, volatility still prevails, so it makes sense to conserve cash to pick cherries when the time is ripe! Afterall, going up too fast too soon a recovery warrants cautious trading.
