Yesterday night, DJ broke 11000. If it continues to inch up tonight, there will be a spillover effect to STI. However, the fact that Japan index recorded a huge drop today is a letdown. Then again, it has risen sharply since new year and no way stocks go up without correction!
I sold my Federal (half of my holdings) immediately after the announcement and i saw price weakening with huge sell down. Yes, i bought 20 lot after it broke the ascending triangle shapre several weeks ago. The other half i am keeping for the moment, as i see the inclusion of 2 influential indonesian investors may bring lotsa new contracts. Remember, connection still matters a lot in Indonesia. Nevertheless, i will monitor further; if price deteriorate further with high sell down volume - i will escape as well and park the $$ in other counters.
Right now, i am waiting for Beauty China to break 0.75 (hit 0.76). I expect Asiawater to move as well, having broke 0.445. This expectation will likely be realised if US rise tonight and Japan recover tomorrow! Afterall, ST Eng announced results in line with expectation.
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