True enough. The STI rebounded strongly on the back of Dow strong performance last week. Asia market is just like a follower to US. Although rebounded from low, the market is not out of trouble yet. Sell into strength, if bought something last Friday at the low. At this point of time, Dow is only up 20 points. Sentiment is not recovered yet and if there are more bad news - more fund folded up, then we would witness about big drop.
Still waiting on the sideline. However, judging the current situation, hopefully all the hedge fund/foreign fund already done their pull out. So, we can expect lesser degree of swing in coming months.
Get the cash ready now, as I have mentioned earlier on, it is impossible to catch the bottom. So it might seem like a good idea to buy small now when STI touch 3100 and buy even more when it is 2900. My buy list for this "correction"(I am not sure whether it would developed into a bear market)
Swiber at 2.2x
Tiong Woon at 0.6x
China Hongxing at 0.65+-
Hiap Seng at 0.65+-
Monday, 20 August 2007
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