STI today breaks the price of 3188, the opening price of this year. And this happens in a matter of 3 short weeks of trading after a 4 months increase. Yes, everything is wiped out. We are at a deficit of 18 points now for the year. Given US and Japan strong showing for the year, STI really looks a great disappointment.
This is a timely reminder that the market can be very unforgiving when everything turns bad! All gains of the year can be wiped out in a month. It is always good to be cautious when things are too good to be true, when everyday the stocks are running. Remember that Nikkei can tank 1000points in a single day amid the bullishness.
Do remember that this is a terrific OPPORTUNITY! Every market will have its turn of bullishness and bearishness. I know that KL stocks recently have a great run. The run will halt one day. Rotation will occur. And maybe SOON, it will be the turn for STI component stocks!
I am looking closely at STI component stocks, especially when it is near my targeted 3000-3100 region.