Tuesday, November 23, 2010

Correction or Reversal?

KLCI lost 16 points. HSI lost 628 points!!

There is an increased in the oversold list as I went thru the scan. 35 stocks today after the market dive due to Koreans. I cleared off KFC-wb and MEGB which I bought in the morning for a loss. Then, I also sold off SPSetia-wb for small profits. I sold MSports at 0.535, only to grab back some at 0.50(queue done). Then, market dives ... oh boy, I do not know about the Korean news, I was busy today. But, I grabbed Malton and top-up LionInd(double-blow). I have limited bullets left as many of other stocks are in wounds too. So, I drawing a conclusion to cut-off a few while top up more on those I want to hold longer. Also, I m ready to pump in some money into my new PBBank-invest account to buy more of YTLPower - a buy-n-hold counter.

RSI : With Evergreen at 35, Jaks at 36, Kinsteel at 37, AnnJoo at 38, LionInd at 39 and WCT at 40. That is cool order ... many more RSI are below 40 now. Time to buy if you think it is merely a correction but selling seen if you see it is a reversal. YOU DECIDE.

DOW down 150 points.



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