I have been following the markets a little bit closer this week. Monday and Tuesday were already building up the pressure with loser to gainer ratio of 7 to 1, not a pretty picture. Yesterday was definitely was a mini panic selling. The next stop that everyone is eyeing is 1400.
Those who missed the October 2011 rally will certainly feel the urgency to get back into the market as they saw the stocks have became cheaper. Some of the stocks have even reached March 2009 lows. There is a fear of missing the boat, will some of these stocks bounce off ahead of others? Yes, in the world of investing, anything is possible. However, remember this.
Whether this is going to be an orderly correction to 1400 or dis-orderly correction is still remain unknown. And it is futile to predict the future.
It is critical to sell before everyone sells but it is also equally important to wait patiently to assess the situation until we reach 1,400. For now, unless you are playing a technical rebound, it's certainly still too early to play aggressively.
2 comments:
Mr MTI.. I have to leave here for a while.. will let you know when I come back. Everything look so bad doesn't it.. you can feel it in the air..take care..
What about the Gas Malaysia Berhad IPO? AT RM2.20 per share, do you reckon it's expensive? What's your analysis, turtle? worth it to apply for this IPO?
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