19 FEB 2010
First of all, Happy CNY to all!
I have been very busy recently. Finally, manage to squeeze out some time to share my view on the market.
The recent market movement have no clear direction on where it is heading to. Many people have different perspective on whether is it a bearish or a bullish. Well, if you are not sure of the trend, then exit. Unless you are prepared for it. We can't predict the market movement but we can ride the trend.
Looking at a broader view of STI, the long term uptrend is still intact.
STI Monthly
A closer look on STI Daily
Notice that there is a gap resistance highlighted in the graph. For the short term downtrend to reverse, we have to wait for it to be filled.
Shorting or Longing now is not advisable as the psychology of the market is still not clear. "Bulls and bears are fighting hard"
My strategy is to wait for the gap to be filled, then long at the higher low.
The scenario is just my ideal plan, market is never an easy game.
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