General Update

Since my last post where i mentioned that we have an intermediate term bottom, STI has been heading north for 3 straight weeks and now we are in the making of a fourth. My HSI longs are well in the money and the index traded as expected. So what's next? I think it is always hard to trade on the long side when the market is overbought, for example right now, i believe many traders have taken profit too soon only to see the market grinding higher.

After 4 weeks of strong initiating buying, i still do not see any signs of extreme bullishness in the media but instead, news like the above after a small pullback. I think there is only one way we are heading which is northwards.

For the time being, i will be looking for short term trades and any upside will be small till the market is back to oversold conditions.