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Wednesday, June 24, 2009

Market Sentiment Has Changed

Knowing that SG market yesterday had 27(>$0.5 stocks) stocks jumpped gap-down, you will have a better understanding how market sentimental has changed -- People are panic selling their shares. The banking and mighty blue chips are leading the way down obviously. DBS, OCBC, CityDev, SGX, Wilmar, kepcorp all these stocks showing selling pressure, they are a pretty good basket of stocks to monitor closely for market sentiment.

To my opinion,the underlying sentiment has changed, even there is a bounce back( which I expected, let's face it-- market never be a straightline since it already downed so many days), if it unable to break above previous gap resistance level, then I'm switching to short side. The reason why I a bit hesitate to short sg market is because it's pretty stronger uptrending than US market, whereas i'm quite comfortable when shorting US stocks. I missed shorting profits in sg market, it's ok.

With the wholly-texted post, I shall end here for now.

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