What a day! The stock market rebounded strongly on cue from Nikkei which had a more than 300 points incline. But still this is no confirmation that the worst is over. It can be a technical rebound. But the volume and the late buying at closing really seems very bullish to me. It will be good if we can close Friday on another up day to erase the deficits on Tuesday and Wednesday. Trade with care.
I remember the same thing happened in Oct'05, we had our worst decline in history and then it lasted for 5 days. This time round i took no chance and decided to take profit first and trim my holdings by selling onion tech incase the decline is just as worse. However today everything rebounded including onion tech. I asked myself, am i stupid to run too early? In the end, i decided i did the right thing. I have just lost a small amount on onion ring and the price rebounded. If i had not sold, and onion tech continues to decline? I would have lost more. Hence I feel safer to have a closed position. It is utmost important that i did not hang on to hope. When i feel uncomfortable, it's better to stay aside. Although I am wary of the market direction, I am still hanging on to my other quality stocks. (At least i think). Because i know that I am no expert. My anticipation may be wrong hence I cut all those i least confident only.
My visitors rate dropped over the last 2 days. Gosh, i hope you guys are not burnt by the market. If you are, don't be too depressed. Market is always there, we can always make back the money together. *cheers*
GrowMoney QuickPick
Breakout:
C&O Pharm
Memory Devices
Sky China Petroleum
Landwind Medical
Sembawang Kimstran
Fung Choi
DMX
Cosco Corp
Semb Marine
Consolidations:
AusGrp
ManWah
Rotary (500 mil contract story not over yet!)
ChinaSky chem
DataCraft
Hyflux
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
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