STI down 6 points to 3137, this morning the market falls more than 25 points due to the weakness of the US market as traders sell off shares ahead of FOMC meeting today. Since STI make the new high one month ago, it went into a consolidation phase as we have not seen it moving higher nor lower, currently resistance is spotted at 3150 and resistance is spotted at 3100. If STI can break above the resistance or the support, we will see more clearer picture of the direction of the market.
Market has been rallying over the past few month, what should investors do now? Is it time to sell?
I think overall market is still strong and there is no sign of weakness, to sell everything now might not be the best way to position our portfolio as market could possibly move higher. Most retail investors will keep under performing stock and sell the profitable stock too early. However I would sell away those non performing stock now at the market high as to reduce my overall exposure. Only if STI fall below 3100 support, then i will clear more position
Which sector or stocks are you looking right now?
Right now the strong sector is IT Electronics sectors, stock that is involves with microchips are doing well recently. Stock like venture, UMS and Valuetronics shows that this sector seems resilience towards the fear of the market. Other than the electronic sector,
