It has been a fantastic up day after Draghi comments. I kindof like this guy now. Yesterday we said that Ben Bernanke is a trader who know mind games of the market. I think this guy is better. Together these 2 form a tac team, the super mario brothers! ha...
Indeed, they have not disappointed the market. Or maybe, the market itself choose to believe the bullish side of things. Anyway, like what we always said, don't be a BEAR this second half of the year. Not now...
Always take the drop as a chance to enter just like the drop these few days!
Oh mind, we are probably the only organisation and trainers who keep reminding you of that!
If you are mid term to long term trader, pick up any stocks and hold... Christmas is round the corner.
But if you are a short term trader like me, 2moro is a tricky situation to be in. Today's ADP employment and jobless claims provide evidence that 2moro non farm payroll won't be bad. So I expect 2moro morning might be good... but probably 2moro afternoon is profit taking time.
So if you go in 2moro, you may be forced to hold through the weekend.
I think 2moro, STI and KLCI will open gapping up, taper down into the afternoon session. So my view is if you want to enter, enter after lunch hours but before 3pm, where Europe might gap up at open hence pushing Asian index up again.
That is my point of view. And remember, next week we will have Ben Bernanke QE expectation again, which might push the market up!
It is the super mario showdown again.