The market is moving up earlier this morning. At one glance, one would thought the market is bullish and the bulls were charging back. However within an hour, everything started to sell off and started to tumble again. DBS, Citydev, Best World all started to slowly simmered off with sellers after sellers. The market finally for once turned green today after many days of stagnant but I wasn't sure if it's sustainable since there were many stale bulls still waiting up there.
More importantly the STI has reached a supply zone and for any trades done now, it's all short term fast contra trading. It's wise to watch and trade carefully for now. The Top Volume consisted of some bad stocks where one would look to unload. On the other hand, there were some good counters too which is now taking a short breather first.
Ronald K - Market Psychologist - A Stock Market Opportunist
