Friday, July 21, 2006

STI Update

My view of STI remained unchanged. I think there should be a final leg down that will break 2,280. However, it is really tough to 'trade' these days. You can see so many 'gap ups' and 'gap downs' these days.

One of my brokers was just commenting that her clients were relative quiet except for the buy-and-hold types who called in to make orders during the June-July period. One of the regular traders bought China Sky at 108, cut at 90 only to see it creep back to 100 yesterday. This period will be relatively volatile, i am sure the headlines, geopolitical tensions and interest rate hikes to continue, oil cross US$80 again, ABC reports lower than expected profits, etc will continue to spooke the market.

A good thing about me is that i dont have the time or the energy to trade everyday, so i tend to swing trade more often than not. I dont see any interesting trade set ups yet. If i think there is a sustained upswing, i will 'alert' again. Actually hor, come to think of it, i alerted you to get in on 15th June and alerted you to run on 12th July... hmmm... not bad lah hor...kekeke... take care ah.


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