Yesterday about 4pm , I was in the office. Since I was in office it was not so professional to go to my chatroom. However, I managed to sneak in for just 5mins. I wrote ( rough quoted ) : Today is a reversal day / Buying today is aggressive / Buying tommorrow is safer. (those in chatroom if wrong words/ time ,pls comment)

Anyway, Dow Jones did its rally yesterday. more than 3% , strongest in 5 years. This is a typical BEAR rally? violent but NOT sustainable.

Let?s look at some charts to find our targets for STI .There are 2 gaps in the chart ,one at 2900 and one at 3000. Personally, I think 3000 is a better target because
1) that is the confluence of the 20sma
2) near the down trendline establish since 1st Nov
3) RSI( which I dont use much is oversold) RSI at 50 will be my resistance level.

So how do we trade this information.
1)trade the short term rally to 3000 ( likely to be short lived) , days maybe
2)wait for STI to go near 3000 and wait for reversal to short.
3)Sell on strength if STI near 3000 for your longer term portfolio

Stocks remain unchanged(DelongH remain my favourite) not a contra stock though ( view is biased as I am vested ). http://www.tradingsingaporestock.com/viewtopic.php?f=18&t=104&sid=380929b2836129a7fb919d4175377e78

I seldom trade short term now because I am still concentrate on coming out with the training manual( sianz really take time )

By the way, if you see today newspapers( straits times) there are so many courses teaching people how to trade stocks. This is a clear sign , STI is in bearish mode long term already

Best regards,
Collin Seow

P.S : All view are personal. (we are all adults liao ! quoted from wise man )