Shorting all the way from Japan to Hongkong and finally Singapore... how can i not be elated on a day like this. The pay back time i was pondering about happened. Nothing has changed. I applied what had happened in the past and it worked. Of course the risk factor need to be worked out. Actually i wasn't really that excited about the good profits this round. I am still far off from my target for the year. Also, it is only March... 9 months to go. There is this lingering fear in me that i may be caught by a rebound tomorrow and struggling to decide if i should take profits first. I had to be clear. This move seems to have just started. We broke away from the trading pattern last week where we remained resilient despite Dow's heavy losses. What happened today was, market simply gave way, rebounds were weak and most importantly we closed lower. The volume of this sell down is HEAVY.
Also, did you guys realise the last round of bailout doesn't seem to be working with many of those beggars asking for more money again.... nan dao is throwing money into the deep sea? Other than giving beggars money, are we running out of idea on how to rectify the problem? Interest rate left one more cut at most... They are fast running out of weapons!
The only regret is not able to lay my hands on the finance sector. Look at how they had crumbled. Property and banking sectors are my favourite to short in recent months. These two sectors are in trouble fundamentally. Hence if i am able to time my entry with T.A, my odds are higher. Singapore market is very simple to understand and trade.. the sectors involved are limited. Unlike US, there are so many sectors to watchout for. But in Singapore, usually you won't go too wrong to stick to offshore, banks, properties, S-shares, plantation, Marine. The rest of the stocks are just noise and sexy stories to confuse us.
Those who have always liked to go long... the chance may be here soon. As we are very near to multi-year lows, the odds of a rebound is very very high. I will sound the alarm when we reach those levels. Currently i won't dare say we are there yet.
NOL Update: Sharpen your knives fellow pirates.... tomolo we shall conqeur NOL!
On a more human and personal side.... I really hope i can wake up to see bloodshed on Dow... oh please... please don't rebound tonight... give me one more day... just one more day!
Nikkei last level to defend would be 7k, i expect some support there... but can it hold?? I would be damn happy if it gaps down to that level tomolo at open.... loon arh!!
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