trying to figure out the science and art of trading and investing

an exchange of trading and investing knowledge. the various postings in this blog are based on my personal opinion only and do not constitute as investment advice. The blog owner shall not be liable for any losses incurred by visitors who take investment action based on the postings.

Monday, November 20, 2006

Correction - Day 1

Just thinking out loud. Today is day 1, notice some panic selling.

1.) Could be contra trades due and brokerage throw out for those who did not pick up.
2.) Genuine profit taking
3.) Kian Cheong sellers following N225

If Wall Street is does not close positive tonight, tomorrow there might be another round of sell offs resulting in possible margin calls for those with too high gearing. Resulting in more people throwing. What a vicious cycle. Typically, a correction should last about 3 days. Key support for STI is at 2750.

1 Comments:

  • At 22/11/06 00:37 , Blogger Unknown said...

    Day 2 Correction invalidated as strong reversal shown today. However, I think it could be too short a correction.

     

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