Dear Friends,
As explained in radio and blog and facebook, 3240 is a barrier for STI. It is especially good today that the broad Asia market is down, as STI needs a pause. STI highest reached ysterday is 3237. Now it is at 3214.
We once again need to provide this advice as a reminder, wait a few days to see how US market respond positively to the start of the earnings season tonight:
Our 7 points suggestion:
1) Cut down on your position size overall
on bullish positions for Singapore market. ie. in the past you may buy
$30,000 worth of shares. Now buy only $10,000 even if you want to enter
2) Take note that the risk is higher now than 1 month back.
3) Focus on stocks that are fundamentally good with earnings.
4) Take note of when your companies earnings' dates are for their 4th quarter results
5) Sell away all short term positions for stocks that have increased a lot before their earnings
6) For good stocks that you are holding, establish a tight stop loss. For those that are profitable, move your stop loss up to guard your profits
7) Leave 50% of your money as cash to take up positions when market consolidate again
By the way, we are not saying that 3240 is a barrier that can't break through. It can, provided that US market is positive to its earnings results. Let us wait and see how market reacts to the earnings. Even when u enter, cut down on your size.
It is our mission to help you SAVE your money, not only MAKE money!
Rgds
Daniel Loh
www.danielloh.com
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