Yesterday (22-Feb-11) was really a bloody hell day for stock market. Almost all the profits were nearly wiped off due to major correction caused by countries riots & oil price hiking again. STI index was testing 3000 pts supporting level before confirm for reversing major trend line from uptrend to downtrend as it has crossed below 200MA. As Dennis commented, if STI index continuously stay below 3000 pts or 200MA for 5 days, it is likely to confirm that the major uptrend has been reversed & bear market has been kick-in.
As for today (23-Feb-11), STI index is still hovering around 3000 pts supporting level, likely to show slightly technical rebound from lowest level (2988 pts) & trying to stay above psychological support level.
So for me as learning to be a market investor, what have I done? I have quickly made a decision to reshuffle some of my stock portfolio, which are Tiong Woon (as it has crossed below 200MA & with poor financial result announced which shaken its fundamental) & Tuan Sing (due to wrong decision of chasing high price) into fundamental stronger penny, e.g CES & Viking. At least now I feel more secure & willing to hold long to stay tuned for next possible rebound. I hope I have made a sounds decision in order to cover my losses.
Just to share my personal investment feeling throughout the journey of learning to be a market investor
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