STI needs to hang above 2948
Morning Everyone
STI covered the drop, back on the 8th of august 2011.
If the STI cannot hold above 2948 today, then likely we might have come to an end of this incredible rally and profit taking might just occur for this week.
Many counters have already considerably reached extreme zone therefore we are not advicing people to chase after them until we see a reasonable pull back for our next entry.
Undeniable, as predicted back in August 2011, the US and Global Economy will all recover and stock market will keep rising and all these are proven right.
But no market travel in a straight line therefore this cycle upside, based on my personal opinion, needs a correctional pullback, to lure back savvy investors.
If HK Future is to lose 20760 or Genting closing below 1.635 today, it will be a good sign for longists to book profit on their profitable postions.
Both HK and Genting are trading at 20920 and 1.645 as of writing (1007hr)
Caveat Emptor
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