1 Nov 2012: STI closed at 3026. From 10 Oct 2012 to 31 Oct 2012, STI was range bound. As per our discussion back then, the aftermath of a sideway range will be an increase in volatility. We also discussed that a move below 2975 will see further downside and failure to move above 3108 will see range bound.
On 14 Nov 2012, STI closed at 2978. For a while, I thought that the STI will not reach my 2012 target level. I almost lost my hopes. But the period between 14 Nov 2012 to 30 Nov 2012, STI had a roller coaster ride. 16 Nov 2012, STI hit a low of 2931 but managed to recover to close at 2945. If you do recalled in our earlier discussion dated in August period, we discussed the support level of 2920 -2940. By ...
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