Monday, June 08, 2009

Bulls got slaughtered

This deep deep pull back caught everyone by surprise. I had high hopes of seeing Financials take the lead to clear 2400... it's all but vanished as the bears mercilessly sold down the market. Is this the start of another bear leg? I doubt so... technically we had moved too high too fast.. it's only natural to pull back for consolidation. Especially property sector.

Now it is time to watch how market trades at support... the next chance to long or short is very very near.... just a few more days and we will be staring at key support levels. My eyes will be on which sector to turn the corner first! Or which sector to lead the downfall?

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