Thursday, 28 February 2013

2 up days bring up Cheer, but I am still wary

Dear Friends,

2 wonderful up days wipe out all of the losses in the US market, but I am still having by reserve on this bullish sign. Looking at the market sentiment indicator, it does not show me a sign that things are changing. In fact, I am looking at a possibility of another sector that is in danger of turning bearish is the ALL IMPORTANT Technological sector. It is 0.36% from turning bearish.

And if tech sector really turns bearish, I am not going to give my vote of this bullish run anymore. One more triple digit fall might be what it takes to trigger it.

I am watching by the sidelines for now... until a clearer picture. Let us first see the ISM report this Frday. Just holding on to existing position but not opening again for now is my strategy for now.

Rgds
Daniel
www.danielloh.com

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