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.) 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 , Unknown said...
Day 2 Correction invalidated as strong reversal shown today. However, I think it could be too short a correction.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home