If everything goes well, we could have seen the short-term bottom at Tuesday Low. I longed cosco taking that low as my support. My view is, that should be the low and we are heading for a rebound. This rebound should take us to STI 3100s thereabts and I will look out and becareful for dumping again. Conditions that favour this rebound include Fed's rate cut and more cuts to come when they meet? Also the traditional CNY rally. Earnings so far is disappointing. Apple gave a weak outlook for Q2 and Motorolla has a bad quater. But! Motorolla hasn't been doing well all along... hence i will be looking for strong results from the competitors to dispel worries that consumers are not spending. Anyway, Motorolla so far hasn't been producing cutting edge products.
Today I cut my loss on Cosco warrants which i took yesterday at closing. I fully deserved to lose this 2 bids trade. Though the loss is small, i am very tempted to just leave it aside because the position is small. But, i hate that kind of complacency in trading. I mean, what the heck! I didn't do my research properly and bought a call warrant which is high in premium and it will not move unless Cosco trades near 4.60s. Hence i choose to punish myself and face the music. I don't want the ill-discipline to manifest in me.
With 2 trading days to go, it will be nice if we can close above 2800s to give us a nice hammer on the weekly chart. There is no need to play god and predicts the ups and downs of the market. Like my ang mo shifu, Livingston said, "I let the tape tells me which direction it is going"
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
