Friday, April 2, 2010

Don't know the market trend...

The Singapore market has been going up:
  • only had short 1-or-2 day pullbacks in the past few weeks...
  • not enough to remove the contra players and create any short-term oversold condition.. where I can enter safely.
Not sure of the trend: await direction from Uncle Sam.

The US market has not significantly corrected, and is still overbought.... don't know what the trend is:
  • The market has moved in a tepid way (several distribution days and bearish candlestick formations in the last week)....
  • but it has still been rising, killing the shorts.
  • IBD's tone changes daily.
Now that 1st quarter window dressing and the low-vol Easter week is over, wait to see what happens...

Dur to the uncertainty, I would buy on retracement, instead of breakouts.