Those who were looking at the market wouldn't have missed the afternoon sell-down. Dow futures plunged and euro's weak opening didn't help either. HSI was very strong whole day and at one stage lead the S-shares in our bourse. Gosh, i nearly bought one of them. But being long on HSI and manhattan resource, i reckon it isn't sound to be vested heavily on the long side in this volatile market. I am still seeing downtrend channel... unless we break that. Of course my all out loss last week still fresh on my mind and this prevented me from being too aggressive. Is it time to short? Yes, i will be looking to short if stocks break their minor low.
No good opportunities today, but i found a classic candlestick reversal pattern in Ezra's chart. With such high volume and a bearish reversal pattern, it's very difficult to not die.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
