This week is rather mixed for me. Overall has dropped from $1.56 to $1.55. Market correction seems possible though, but anything more than that seems unlikely. If you ask me, on hindsight, I felt that I invested too early. I knew from technical indicators that a consolidation is possible for OKP, advSCT, asiaEnv, pacAndes. Thats why I sold advSCT, some asiaEnv, pacAndes. Basically, I cleared my CFDs. Then when market corrected down, I tried to bargain pick these counters. Initially, I queued OKP for 80cents, advSCT at 995, asiaenv at 0.775. But I was afraid that I couldn't get it, so I used cash to get advSCT and asiaEnv, thinking that since it is for the longer time horizon, it should be ok to get it soon. For OKP. i changed at the last minute to get at 825. Oh well, I feel there isn't much wrong in my decision though. This week has been shaky, having lots of whipsawed movements. How I read this is that stocks are exchanging hands, and it is more geared towards accumulation by funds. At the moment, after the correction, I think funds have lots of cash at hand and by default, they need to be in the market. Thus, they might be loading in positions now. Generally, things are looking sweet at the moment. A last note of caution, we are almost halfway through the historically bad month of October and the year end rally is near. If we follow historical trends, then I will have to say that my fund will not go below $1.50 till the correction next year! Anyway, the decision on whether to cut the fed rates in two weeks time will be the catalyst for either the year end rally, or stagnant growth till end year. Labels: NenixDreams Fund |
