Dear readers, I was wide awake on Monday (6 July 2020) night till past midnight to Tuesday (7 Jul 2020). While many of the people here on this tiny red dot were sleepy, I was wide awake. Looking at the computer screens which flashed US stock ticker symbol and dynamical stock prices. Tired as I was from yet another unrelentless pace of busy working (even though from the comforts of home), I knew that it was time to sell some of my US stocks which I still have and take profit. For it will soon be time that stocks markets will be correcting soon.
This is what has made me successful as and investor. Contrarian style of investing. When people are selling but if market conditions are good, I will buy. When stocks markets are consolidating and making no meaningful headway except to wait for a correction like it is now, I believe it is time to unlock some profits, and redeploy at the next stocks markets opportunities.
Yesterday, the Straits Times Index already started showing some fatigue going south by 2,661.42. My near-term support of 2,500 will be realized soon. And who knows after reaching that level, the Straits Times Index may hit all the way south to my bottom-most target of 2,000. But this is not all. If there is an all out stocks markets correction, I expect the Straits Times Index to reach around 1,200.
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