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The STI defied gravity to add 22.1 points today, closing at 2,896.43, it is only a bit more than 100 points away from the magic number 3,000. However, today's volume of 1,143,954,590 and total value of $989,019,766 suggest that the upward movement is weak. Volume is low and the value is lower. Activity has clearly reduced and moved to the pennies.
It would not be wrong to lock in some gains for anyone vested in index linked counters. For anyone looking to add to their positions, waiting for a pullback might be prudent. However, if in doubt, my strategy is always to hedge. For the person who is vested, divesting half of his position might be a good idea. For the person looking to add to his position despite the technicals, adding a smallish position would be less risky. Read more...[caption id="attachment_3024" align="alignright" width="150" caption="Photo by mysza831"][/caption]
The STI defied gravity to add 22.1 points today, closing at 2,896.43, it is only a bit more than 100 points away from the magic number 3,000. However, today's volume of 1,143,954,590 and total value of $989,019,766 suggest that the upward movement is weak. Volume is low and the value is lower. Activity has clearly reduced and moved to the pennies.
It would not be wrong to lock in some gains for anyone vested in index linked counters. For anyone looking to add to their positions, waiting for a pullback might be prudent. However, if in doubt, my strategy is always to hedge. For the person who is vested, divesting half of his position might be a good idea. For the person looking to add to his position despite the technicals, adding a smallish position would be less risky. Read more...
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The STI defied gravity to add 22.1 points today, closing at 2,896.43, it is only a bit more than 100 points away from the magic number 3,000. However, today's volume of 1,143,954,590 and total value of $989,019,766 suggest that the upward movement is weak. Volume is low and the value is lower. Activity has clearly reduced and moved to the pennies.
It would not be wrong to lock in some gains for anyone vested in index linked counters. For anyone looking to add to their positions, waiting for a pullback might be prudent. However, if in doubt, my strategy is always to hedge. For the person who is vested, divesting half of his position might be a good idea. For the person looking to add to his position despite the technicals, adding a smallish position would be less risky. Read more...
