The genie appears again and reminded me of April 11, 2010...
"2ndQtr - Going forward, it will be "Sell in May and go away"; reflecting profit taking and accounting for uncertainties as market retests previous heights. Also, some of the EU's members’ deficits and sovereign debts will shake market confidence.
Aboveall, the persistent challenges against the wisdom of Yuan(Rmb) fair exchange rate and protectionism will cause further creepiness in the market. The desire to withdraw previously instituted stimulus measures is unlikely to happen with any significance as more, rather than less, need to be done to keep the global economy 'roaring'."
With a spell 'Hakarrahoomara!!' he said... "a temporary relief is near";
Indices NearTerm WorstCase
Hang Seng 18800 15000
Nikkei 9800 8400
Shanghai A 2700 2400
Dow 9800 8200
Bursa KLCI 1280 1200
STIC 2700 2200
It is not the end of the (financial) world; it is simply that 'the game is old but the players are new' and a 'fool is born every other day'.. got it?
Trade at your own risk. In this rocket age day, I find it hard to believe genie exists.
Trading on rebound sounds like searching for the Pink Panther ...