At this stage of the market, i am still looking around for solid buys and which sector to look at. Agriculture seems to be getting volatile and we are seeing broadbased buying. I especially like the intra-day selling that was absorbed well yesterday. Buffet and the retail sales figure was what the market needed and we are now looking at potential "W" patterns all over the place. I will be keeping a lookout for those stocks that breakout successfully from this pattern.
STI update: Currently we are trading at the resistance gap and it was closed moments ago. All the gaps in STI meant crowd behaviour and emotions at their extreme and price is not moving uniformly and this is not a good bull market looks like. The level to watch should be 22SMA, it could be a good level to short if market fails there. Even on the STI, we can see "W" pattern. I will exercise patience and not risk my money in the current overly sensitive market. Volatile market is not a characteristic of a market bottom.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
