Wednesday, May 9, 2007

More Downsides to Endure

Straits Time3439.21-38.38(-1.10%)
BT-SRI 1730.50-21.55(-1.23%)
UOB Sesdaq 214.21-4.24(-1.94%)
KLSE Comp 1354.67-10.61(-0.78%)
Nikkei 225 17656.84-12.99(-0.07%)
Hang Seng 20706.35-190.29(-0.91%)

Asia Market corrected as expected. Based on the market sentiment, there will be more red days than green. The bull is currently tired and exhausted. As you can see from the above, the corrections are rather small but its believed that this trend will continue.

STI - Most of the favoured or rather speculative stocks had corrected greatly. I cannot tell which sector actually survived. But what I found was stocks like Armstrong and HLG usually goes up when the market are down. There could be some reason behind this. Either they are pushed or many found them to be undervalued. Further downsides for most speculative stocks are expected as weak hands are struggling to let go once the trading bell starts tomorrow followed by a slight recovery in the late afternoon.

Any opinion herein is made on a general basis and is not an inducement to trade.

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