Happy Chinese New Year

Happy CNY to all readers, really wish you happiness for the year of the rat.

Apologise for my absense recently as I was away. But, a string of weird things happened to me on sunday and monday, I do not know how to explain, but that made me stay away from the market before the CNY. Anyway, do not think of the market now, enjoy and celebrate your chinese year.

But if you insist on thinking of the market, i will just give a short review. The market is generally mixed. In other words, this rebound is very much selective, not a general market rebound, so any longs have to be extremely stringent. Read the technicals, not the fundamentals, during such a technical rebound of stocks. If you are an investor, understand the intrinsic value, and add on discount intervals, whatever the technicals are. But you have to be firm and did your homework well.

The current technical rebound is becoming extremely weak but not totally negated yet. We need to see how the markets will react to the last low. I understand many will buy on wednesday because the market is oversold, but the risk reward is not favourable, first due to the long holidays, and second due to the mid term bearish trend. Whatever you do, manage your risk, it doesnt matter if you are right or wrong.

conclusion...
Remain cautiously bearish...ride the wave down to the last support, place a cut if a strong surge enters. Try to avoid longs except for system selected stocks, thats if you have a tested system in place.

Enjoy your CNY.. Heiwa


Singapore

Wednesday 06 February 2008 *Half-day Trading
Thursday 07 February 2008 Chinese New Year
Friday 08 February 2008 Chinese New Year Holiday

Malaysia

Friday 01 February 2008 Federal Territory Day
Thursday 07 February 2008 Chinese New Year
Friday 08 February 2008 Chinese New Year Holiday

Hong Kong

Wednesday 06 February 2008 *Half-day Trading
Thursday 07 February 2008 Lunar New Year's Day
Friday 08 February 2008 The second day of the Lunar New Year
Saturday 09 February 2008 The third day of the Lunar New Year

Thailand

Thursday 21 February 2008 Makha Bucha Day

Japan

Monday 11 February 2008 National Foundation Day Holiday

Korea

Wednesday 06 February 2008 Lunar New Year’s Day
Thursday 07 February 2008 Lunar New Year’s Day
Friday 08 February 2008 Lunar New Year’s Day

US

Monday 18 February 2008 President's Day Holiday

Canada

Monday 18 February 2008 Family Day