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| Tuesday, October 09, 2007 |
| October Spook |
Historically, October is a bad month for stocks, although last year seemed ok. As markets are driven by perceptions of traders, concerted thoughts that October is a bad month will often lead to a correction. However, I still maintain my stance that we have already seen the worst of the correction (bear in mind that I don't predict that accurately), most speculators are very badly wounded during that period and for the inexperienced, they should be licking their wounds now. The money in the market now consists of mainly experienced traders, do-nothing investors, new entrants. Of cos, there will be also newbies like me who didn't suffer collosal damage and still in the market, but this proportion should be small compared to the others.
The significance of this proportion is that panic selling will be limited, or should we say, the floor should be found rather quickly. This is of course an indication to probably buy on dips.
If it does correct, it will be an opportunity to increase my holdings in some positions.Labels: Random thoughts |
posted by Nenix @ 7:38 AM   |
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| NenixDreams Fund |
| Fund launchprice on 1st August 2006= $1
Target for 2007 = Beat STI index
Current price of NDF as of 1st Oct 2007 = $1.58
Current price of STI as of 1st Oct 2007 = $1.54
Difference with STI index is 0.04
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