If STI does not go down, there would not be opportunities to buy your stocks at a discounted price. It is just a matter of when to enter now. Like what we mentioned in the previous article, I am liquidating my short term positions ahead of Ben Bernanke speech. In fact I think today's fall in Singapore and Hong Kong market is a reaction by the short term traders liquidating some of their positions.
Remember that traders normally do not like risk. And exposing ourselves to an unpredictable decision by the FED involves risk.
I am on the sidelines now waiting patiently to see the reaction of the market these 3 days. Firstly, my eyes will be focused on tonight Jobless claims at 8.30pm US Eastern Time. It will give a glimpse of what might be the outcome of the Non Farm payroll next Friday, and whether I should take the chance to enter next week.
2moro, my feeling is that probably there would not be QE3. So I actually am in the sidelines waiting for the market to react disappointingly. If not, there might not be a chance for me to enter the market.
Next Monday, ISM report will tell me about the strength of the US enterprises .
Of course, if things go bad, I will be looking to a triple digit increase next week to find confidence back in the US market.
This week is crunch time. Get your weapons ready. There isn't any reason to panic yet. Instead there might be opportunities round the corner.