After yesterday's sharp fall, Dow Jones would likely have confirmed the start of its downtrend. Dow Jones fell 226pts to its 4-month low of 13,716 while Nasdaq lost 50pts last night to 2,639. European markets also fell sharply last night.
The KLCI closed at its all time high yesterday. However, we have cautioned investors about a sudden reversal yesterday as well. I am going to cut all position today as I do not believe that Asia can buck the global trend.
I am also going to take whatever losses for the Singapore stocks today. Am going to keep cash until the time is right to get in again... :(
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