Market Diary:
World Indices:

Thursday, December 1, 2011

A Day To Take Profit

The Dow rose 490 points last night to 12,045. It has risen 814 points in three days and is very near to a short term downtrend line.  S&P500 rose 52 points to 1,247. It has risen 88 points in three days and it is already touching the short term downtrend line where Stochastic is overbought :

Locally, the STI is approaching the important downtrend line mentioned in my previous posts. I have taken 50% of profits from my recently added positions. Biosensors, Genting and SembCorp are all making good gains.  I believe today is not the day to add new long but to take profit.