Am I Buying? Nope… I am still shorting and will stay short for now…
Posted by admin in UncategorizedGood Morning Everyone,
1307 is the critical point for S&P and this morning, it broke thus I am near 90% sure that we might be in for another wave of selling very soon. This time, I am looking at the market to test 1290.
Greece and Italy issue, in my opinion have not been resolved and the talks are still an uncashable cheque situation… yes the figures are there but since no one wish to commit to resolve the issue, sooner or later the stress level will mount further and the next wave may be torrid.
I have booked profit on all our Gold position. I believe that this safe heaven instrument will soon be target for easy cash withdrawal to settle the underperforming equities issues.
For the record, if the S&P cannot hold above 1295 today or tomorow, I am looking at the market to test 1250 level, the pyschological level that many are fearful. In June 2011, 1256 have became the artificial support as it tested more than 4 times over 2 weeks period before the selling cease and the market rallied.
At the moment, I foresee more selling in India and HK market while staying out temporary for the Indonesia stock market. Singapore side, I have not loaded any shares but hedged with shorts in the SIMSCI. NIKKEI, I am taking a short position on it as I foresee Dollaryen hitting the 78 flat figure soon and that will add pressure back to the Japan stock market.
I am still looking at Crude to cover the gap to US$90/barrel…. which is now trading at US$97 area.
Overall, I am not keen to go long yet thus based on vested interest reason, I would encourage traders and investors to sit it out, temporary but end of the day, the choice is still yours.
Disclaimer applied.
Kelvin Han
V3Go System Originator





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