As i was posting this update, STI created another new low of 2614. At this point, STI had entered into the bear territory. The news and papers are fuelling the public with a lot of bad news, draw the picture as bad as possible. The plight of our country entering recession, send the fear to everyone's heart.
Personally, i am still holding on the Capitaland position, strongly believe that it is just a big correction. The reasons are that i only see a slow down in the growth; there is no pay-cut across the boad; there is no major retrenchment in the job market. Why there is no posting of thousands of jobs lost in the news like the one in 2008? If we are to go back to the 2008 crisis, you will see real bloodshed in the market. This means that most of us will lose our job and pay-cut scheme will be among the hot topic.
Current market situation is a very tough situation for novice traders. But it provides a good opportunity for us to test our skills. Traders with traditional way of trading will fail in this fast and volatile environment. We will need to upgrade ourselves and this market provide us this opportunity.
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