Friday, 2 March 2012
ISM did not beat expectations, however Market is forgiving
Yesterday ISM did not beat expectations. The Institute for Supply Management said its manufacturing index declined to 52.4% last month from 54.1% in January. Economists polled by MarketWatch had expected a reading of 55% for February based on improving regional results and employment data.
However I also noticed that market is forgiving in not going down after the poor report. For this, I have to say that currently the market is resilient! Unless there is a change in the market confidence and sentiment, we can still remain bullish.
Take note however that, Market Risk is growing higher by the day. Even if u enter, u will need to control your position and exercise disciplined STOP LOSS. If u have position in the market, u may still hold on to your stocks unless market changes.
After yesterday ISM report, I would not expect DOW to increase by quite a lot this month. And a lot will depend on Next Friday employment data too.
Will carry on monitoring the market. Any changes would be posted...
STI is the Only Flower stuck in a pile of Cow Dung! - The only major index in Asia that is in the Green
Dear Friends, A few days ago, I issued a post on where I think is the accumulation area of STI - 3300-3350. Yesterday it dropped into thi...