Dear Friends,
Our Market Sentiment indicator, an indicator that tracks all the 9 sectors in US is showing us that Technology and Energy sectors had turned bearish yesterday. It is a call for us to be careful as Tech and Energy are the major sectors of US Economy.
Our market sentiment indicator:
http://www.danielloh.com/2013/08/market-sentiment-indicator-for-9-aug_16.html
It may be time to take some profits off the table if you are a short or mid term investor.
Yesterday the drop of 226 points is hard. I never like DOW dropping 100 points and ending the day at its lowest. Yesterday is also the second day DOW drops a triple digit figure. OUCH! Triple digit drop indicates waning confidence.
Let us not be too confident of the market now, especially when US is showing some weariness now.
Advice for investors:
1) Don't plunge all of your hard earn savings inside to buy some stocks that you think is cheap. Small lots are preferred if you want.
2) If you enter, do think of your exit strategy
3) For the experienced, maintaining a hedging position helps, meaning shorting some counters.
Rgds
Daniel
www.danielloh.com
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