Following the crash down last week, it was followed by more bad news on Monday triggered by the lock down of Malaysia for 14 days. This triggered another crash down of the stock market to 2500 points and it was followed up with another bad new on the closure of Europe Union borders on Thursday which send the STI tumbled down to 2300 points.
What a ride dive down the rail!!!
Yet again, this is the first time I see the STI crashed down so swiftly ever since I begun my journey in the stock market. The Covid-19 has triggered numerous series of bad events within a short period. While not as deadly as SARS, it spread more easily like a wild fire. Many countries subsequently implemented measures to contain the spread. With all the locking down and closure of borders, all trans international business are impacted.
I had been holding myself back for this week despite the weakness of the stock prices, I had since activated my armies a little bit during the early downtrend, so at the moment I am not entirely in a hurry to move into the market to average down my counters in the view that the situation could get much more worse. But that doesn't mean I am just sitting around praying for a miracle. LOL.
I had spend my time working out my own positioning and comfortable entry prices on selective counters, putting them on my watch list. It is just not possible to determine the bottom of the prices, so it is better to determine my most comfortable entry prices and grab it when it hit my target price. After all, my investment lore are mainly focus on building a sustainable future, not much on profits.
So guys, no need to ask me when to buy la. I also donno lor, because I donno your sizing, positioning and risk level. Lol.
Until then, stay strong, be healthy and wash your hands often! :)
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