Before I left for my business trip, I made a watch list that I thought the stocks were mispriced. Here are a few of them(counter/price at that time)which I thought it was mis-priced between 10-12%.
1. YTL Power. $ 1.72
2. KFC. $ 3.31
3. JTI. $ 6.16
4. Boustead. $ 5.21
Since then, the prices keep surging and narrowing fast. Another 5-7% jump from yesterday closing will get back to the level of pricing before the market brokedown. The incentive for me to get back to the market is really very little. I cannot get back to the market just because I've missed the boat on the first week of October. If I jump back with both feet, it's like making a mistake that I sold a huge block of my holdings 3 weeks ago.
I believe the market is overbought now. Even the sleepy stocks from the forbidden city surged? Give me a break!
The rational thing to do is DO NOTHING and wait for the next boat. The boat may come tomorrow, next month, six month or even one year later. I'll sit here and wait.
Subscribe to:
Post Comments (Atom)
1 comment:
It is becoming more and more apparent that you mis-read the markets and like I said your decision to panic sell when Dow broke a critical level was a not a wise one....in fact, Dow seems to crack above its resistance level recently, so if you follow your theory, you should be buying, no? :)
Post a Comment