Another wave of selling could be around the corner

Today we witness another wave of selling in the markets which completely washed all the gains we made yesterday. To me, this isn't a good sign.

Furthermore, I don't feel that there's any panic selling yet - maybe except for commodities.

Watch for break down of STI at 2761 or break up if STI 2832. You all should know what I mean. :)

Congrats to those who shorted when I post at the side that shorting has a better probability than longing.

But nothing is confirmed until your positions are closed and money is safe inside the pockets.

I know commodities and shipping sectors has fallen quite badly, so its difficult for us to short something that is already very low. So I give some counters to watch out if really break down.

Counters to look out for

1) The 3 banks

2) First Res

3) Kepcorp

4) Sembmar

5) Sembcorp (This counter looks slightly stronger but might be dragged)

6) F&N

I believe all these are enough for you huat big if it really managed to break down. 

Breaking down of 2761 should send STI to around 2680 level (+/- 20points).

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