Tuesday, March 07, 2006

Tomorrow - Which way the Wind blows?

Today most China Stocks were bloody so to speak! Other stocks also went down. STI was down 23.73 points & closed at 2489.15. This is the resistance point I previously predicted (2490). It does look like it is very hard to break without taking a pause. STI now look very overbought and extended. So it is better to be cautious and prudential... My sense is telling me it is safer to be in CASH rather than to be long on stock. As I’m writing now, Dow up 20 points, Nasqad down 11 points. Chartered, StatsChpac and Creative in USA also down. With today 3 digit down in Hang Seng and Nikkei and 29 points down in China, things look a bit scary. Whether which way the wind blows tomorrow, is a question which can be answered only after 5pm tomorrow. Let’s see how!

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