Analyst Reports 18: Expect the Unexpected?
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I find this utterly disgusting.
In my last Analyst Report, I have mentioned that most of the markets were supported at that time of posting. The next day, it broke the support by a few points. At that time, I felt pretty lousy, thinking that it must be really bad for the market to go so low so fast. I was prepared to switch to bonds for a while if the support was clearly taken out.
But on the safe side to “diversify”, I switched my Sing/Malaysia fund (a part of my portfolio) to a China fund since in my last posting, it was affirmed that SSE is on an uptrend.
And bummer, the pullback from the low was so fast that it shocked many TA traders. I must say it pretty amazing too see for many markets, the indices leaped from one end of the bollinger band to the other. Gosh. Spectacularly so was STI when even DOW dropped for one session, it just ignored it and continued up. Individual stocks like Noble went up by more than double digits for several sessions. Disgusting. STI outperformed SSE by quite a bit for the past few days.
I am still anticipating a severe pullback soon after reaching such a overbought level. Some expert TA analysts like Mimosa have called for a very possible bottom but i am still reserved at this point of time. For me, I would like to see a higher high. Nevermind not catching the bottom.
I like SSE in the chart below. Steady Steady. If broken at the bottom uptrend line, i guess i would switch funds again. Try not to switch so much ba.
For those who have been doing their RSP for these few months, you should be sleeping soundly and probably should not even been reading this post. In the years to come, you won’t even bat an eyelid for not buying at the low here.
Have fun and yes, stay invested (for the long haul).
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