Wednesday, December 10, 2008

Who let the BULL out?

In chinese i would have called it 牛气冲天! Wah... I was speechless by the power of the bull that hit Asian market. Dow slammed lower but Asia opened weak and then the bulls took over and drive us to close high. Beautiful and this bullishness has not been seen for months. As beautiful as it is, i wasn't part of the party as i have no long position. Infact i just cut my Capitaland yesterday and then had to scramble to take my profit on the AscendasReits short. With STI taking out the previous high, it's a very positive sign. However, pretty disappointed that the intra-week weakness was not present. Looks like dips in the morning is a good chance to buy already.

The transition period from bear to sideway to bull may be here. The next sell signal will be a tell tale sign. The plan is, if the stock doesn't goes down, it is a healthy retracement in an uptrend.

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