Another day to prove that asia markets are indeed oversold, resilient or decoupled from Dow. HSI and N225 managed to close up 77.84 and 86.89 respectively despite a 306.95 drop in Dow last night. STI? Er.. play safe again, closed at 3104.25 (down 35.63).

I has missed out most of the action in the market due to an appointment. Only managed to reach home at about 3pm. Personally, I believe is time to pick some good shares. The reasons are:

1. Lots of bad news are out.
2. Bush to push for tax rebates for people and tax breaks for business investment.
3. Fed to cut rate by 1/2 or 3/4 percentage point.
4. Dow is approaching 2 critical supports. Any positive news will trigger a strong rebound.
(Look out for my technical analysis for Dow.. coming soon..)


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