We got it right when we stated that we look forward to seeing a market halt to the run-up before the QE3 announcement. The day it gaps up is the highest reached for the DOW.
Read our article on the consolidation just before the QE announcement:
Yesterday marks the longest period of consecutive days drop this year. Some of you might think this is an amazing drop given that there is no QE tapering now. We did said that given the run-up before, any announcement might trigger a profit taking and a halt to the run-up.
But do take note that a good thing we see in the market is that there is no panic now.
The market is poised for a run-up after a good consolidation!
Do not be despaired. We feel STI will not touch the low point of 3000 this time round. In fact we remain mid term bullish that STI will be heading towards 3300.
3150 is the point I hope that STI will reach to consider cheap this time round.
Of course there is a discussion on the debt ceiling issue recently.
The dateline seems to be fixed on 17th October! Hence I do hope that there is volatility from now onwards! The bigger the volatility, the bigger the rise!
We definitely would take any drop in price as a point to enter!
STI below 3150 we feel, is Angbao...
Hope it touch soon!