Dear Friends,
11 out of 12 days. That is the longest losing streak we have this year. Patience is needed. Greece news dominate headlines again. Fitch downgraded their debt again.
2moro Facebook will IPO. I heard that some singaporean friends have lined up to buy this stock on the first trading day. My advise is to wait. I have witnessed how Baidu, Google and Visa IPO with so much hype only to drop back. So I suggest to be patient. Let the stock run-up and bust. Only after it bust, the big boys will come in.
But I am hoping this strong IPO will light up the tech sector. Ever since our Market Sentiment Indicator indicates bearishness in Tech sector and Nasdaq, tech has been weak. Hope that this Facebook IPO can help save the Dow.
Be careful this month on any entry. Patience is the word until we see a turnaround.
Rgds
Daniel
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