Fearful investors sold out on their blue chips, causing the index to fall another 1.5% mid day. Since the psychological 3300 level is broken, if the bear does continue ravaging we would need to find support at the 3,000 level , which is a very strong and easy number to remember. STI would need to correct about 10% to break the 3,000 support. As the market sells down we should take a look at the valuation of the STI, in such a case lets take a look at the STI ETF. Details can be found from the SPDR Straits Times Index ETF page here Current the STI is trading at 13 times earnings, considering its historical average of 15 times earnings the STI may start looking attractive. As such I may consider an entry into the STI ETF at $3.00 which means a 3,000 level on the index. ......