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Tuesday, July 24, 2012

Bearish sentiment : Too late to run?

DOW down another 100points ... time for correction as expected and written last week. That explains why I am selling many last week and sold my SKPetrol yesterday, cut-loss Presbhd too. Keeping cash and staying sideway ... to go shopping again. Do not go against the tide ... we will be drown.

So, what to buy? Nothing much except shorting FKLI ... wanted to short at 1645 yesterday not done. Have to be glad with 1640 later?

Spain banning short-selling .. ouch ... markets are diving now ... with HSI down almost 600 points. Shall we short HSI too?


Taken from biz-times : STOCKS suffered their worst day in more than two months yesterday, led by a slump in Europe's largest bank HSBC Holdings, on growing worries about Spain's ability to stave off a sovereign bailout.

The benchmark Hang Seng Index tumbled 2.99 per cent, or 587.33 points, to end at 19,053.47. It was the index's worst performance since May 16, when it lost 3.2 percent.

Blue-chip heavyweight HSBC dived 5.7 per cent to HK$63.10 due to concerns about its banking operations in Europe. Its fall alone accounted for 174 points of the drop in the Hang Seng index.

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It is a SELL ... with IHH in play this week.

Selamat Berpuasa ... stay safe.

TEH

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