No matter which filters i scan the market with, it seems to me a broad market retracement in progress. Notably, China Plays have been hacked down. Semi Con industry looks hesistant. Property looks set to correct after a massive run up. Oil and Gas plays fail to shine despite higher oil prices. I could not find a good risk reward stock to post tonight. To me, i'm unclear, i prefer to stay clear of the market. It's not easy because I have to contain the greed and not to take risky position. I reminded myself there will always be another opportunity in the market. It is highly important that i should continue to observe how our market develops from here. Because, not only will it adds on to my experience, i won't miss any chance of a re-entry! The rebound rally of the market is important this week. Let's see the strength of the rebound.
Elections is just a week away. Looking at historical pattern, market will be cheering before the judgement day. However i did notice a difference. In 1997 and 2001, PAP return to power on Election day and this time round, the margin of victory will be scrutinised by market. In a nutshell, if PAP did not win by a very comfortable margin, a sell off in the market can be expected.
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