Market SideSteps Investors

Market soared on open due to lower oil price and Wall Streets gain. However, the gains were pared off as we drift closer to the closing and finally most gains were demonlished. Those who bought at the high today are stuck. The question now becomes will the market rebound and let these people liquidate their positions? Looking at Keppel Land and Cosco Corp, the volume today is pretty light. Chance to get out if there's a rebound.

Market will continue to trade sideways. I saw very mixed actions from leaders of the last rally. Marine group is pretty weak. No momentum to move up yet. I asked myself, is it worth the risk to trade now? Market is merciless, during uncertain times, it is best to steer clear. Another strategy will be to buy near support to hold. Once break support, just cut! Do not sit and hope.


Keppel Land: The Breakout yesterday retraced badly today with many investor opting to take profit. The volume is less than 50% of yesterday's trading volume and the retracement tested and hold above 3.42 support.



Cosco Corp: We might be heading to a consolidation zone just like the previous consolidation zone before it's up move. Volume has been light and the trendline flattening. Hold on tight, it's going to be a wild ride. Although history may not repeat itself 100%, looking back at the old consolidation zone, slowly accumulate at the support might be a good idea.