Last 2 weeks the Singapore market latched on a few good news as reasons to rebounce – the good 1st quarter results from the US banks, the US Federal Reserves announcement of a rescue package to buy 1 trillion worth of bonds and treasury and commodities gain.
As it looks like the storm has quieten down, the AIG bonus scandal at the end of last week, clued that it may yet not be over.
Will it be short lived? Will it go up? Will it go down?
My strategy is to scoop some at this point. Put part of what I am holding now as cash. 25-30%.
Straits Times Index
Chart from Yahoo Finance
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