Yes....super bad week! And still more bad news for this coming Monday esp due to the US friday's close. Can expect the HK market to drop by another few hundreds points to maybe to 20000. If that breaks....all hells will break till it reaches 18500 points which will have strong support at that level. By then.....many people will have to jump!
Oh...will be attending Keane's Mass gathering tomorrow to hear what he has to talk about. And from the usual mentors' session so far....still the same old bullish calls!
The selling is not done yet....funny thing about stock market which I learned over the years. If many uncles, aunties, young men and women start to rush into market....it is about time to go "short".
ReplyDeleteSo maybe I should be looking at "shorting" the market. Yes....esp SGX one! No major correction since March....major meaning about 15 to 20% drop!
Even the Wilmar, Indo Agri, Straits Asia, Golden Agri are starting to drop....next will be the Olam, Ezra, CapLand, City Dev and the banks. These have to drop or correct by at least another 10% before....a meaningful up trend can come again. If not....the risk will always be there for a drop or no 2nd round of up-trend can happen.
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