I do not like the way how market is behaving lately. Firstly, the recovery from the August low was too fast. Secondly, I observed that the price swing has been very wide and loose on the way up. This could be signs that the smart money are getting out. At the top, there shouldn't be alot of selling (volume) because there are limited over hang shareholders. The only explanation for the high volume is, smart money liquidating. Thirdly, the incredible run at HSI. Murphy law applies in the market too.
Inorder to cut down risk, i sold HongXin when the selling persist. I had wanted to ride this on the way up but the price actions has been too loose and i didn't like the wild swing. If everything is fine, i will look to buy back again.
I derive 2 opinions about the market.
1) Market trades in a range and we see major support levels hold.
2) Market breaks the major support levels and we crash south creating a lower low in price actions.
GrowMoney Quickpicks
SPC (Bull)
Ezra (Bull)
UOB (Bear)
SMB (Bear)
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
