While the general market is breaking down, so does most of the blue chips like the banks and property stocks. UOL, one of the better blue chips which reported some good results also started to fall off the cliff with a lack of support. It was holding there for the past few days and suddenly it gave away today because the sellers were pretty persistent. At the peak, there was a fake breakout first to trap stale bulls to long and suddenly when the market shifted, UOL just followed the trend of breaking down. It's one of the better property stocks but need to wait for a better timing before taking a long position.
Ronald K - Market Psychologist - A Stock Market Opportunist
