Today STI had one of its biggest fall for the year. 80 points down, breaking the previous low of 2688 points. The next few trading days will be important. If the fall continues and the trend is confirmed, then we will be saying good bye to 2700 points, and will be heading down to 2400. I hope the downtrend will stop at 2400, not any further down. The next level after 2400 will be 2100. I don't think you will even want to know what is level after 2100. It is not going to make many people happy, except the shortists.
DJIA as I am writing now is down 230 points. Not very sure whether STI will follow suit tomorrow. Scary. You don't want to be an 'investor' who applies the 'buy & hold' strategy. If you do, you must have a big enough heart to bear the huge losses.
Let's see what will happen tomorrow for STI....
Thursday, September 4, 2008
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