The key to averaging down is to be patient. Yesterday, someone asked if they should average down today. I said that it would take at least three days in a meaningful correction for the market to find a bottom so probably into the latter part of this week would be a good time to start doing some bargain hunting. I have put up the following charts to provide some guidance on what technical levels investors can look at to start accumulating my “stock picks”.
BH Global Marine – support at S$0.20
Related posts:
- Juken Technology – a recent stock pick reports net profit in FY2010 of S$9.54mn compared to S$0.94mn in FY2009…..up more than 900%….
- China Animal Healthcare – reports net profit of RMB129.7mn in FY2010 down 21% from FY2009…..this was a Stock Pick but I called a sell at S$0.42 when it hit my price target
- Tiger Airways…….SIA on the defensive with key appointments in Australia and Singapore……but it may be too early to do bargain hunting
