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Straits Times

Straits Times Index today stage a strong rebound and closed at 2694. First resistance to watch out for would be at 2730 which will also coincide with the 50 DMA. If STI await a few days later, it would also meet with the 20 DMA as resistance. Right now, do take note that to long would be against the trend, therefore please do not go crazy with long position. How high can this move to the upside is anybody’s guess, but as long as it wants to go higher, there is no reason to stop the running train. Is this a start of Christmas Rally? That would be too early to tell yet as there are so many problems in Europe right now. All one can do is to enter a position and set a trailing stop as it goes higher. We still have 25 plus days to Christmas and just last week, everything is all doom and gloom. Therefore, please take 1 day at a time.


But there is something more urgent: Dec 31st 2011. It is the last day of this year. I seriously urge you to reflect back your achievements for this year, what needs improvements and moving forward, what is your goals for next year. In just 2 more days is the end of November and you have 1 more month to go before 2011 says sayonara. Now would be a good time to do a reflection…

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