Thursday, December 14, 2006

Red Bull

Once again STI defied gravity and we are back into the green once again. This is a warning sign to me. The big retracement didn't happen and what we saw is firm actions. Hence I took my losses in DBS PW and the STI PW at 2700. It doesn't pay to argue with the market. I'm wrong in my analysis of a big retracement so I gladly take my losses while still small. I reckon that it is not going to happen in the near future and hence I took my losses first as i was too early. Instead I kept my STIPW at 2800 as it is near the money. In between I traded HSI PW for quickies. Market to me is range trading for the moment. Deploy your fishing rod at support and sell at resistance.

I am still wary of a sudden correction and hence am not too aggressive in my buying. Prefering to watch my position closely.

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My Holdings:
Cosco Corp
Tat Lui

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