[weekly review] ww27 2018- STI BEARish

Thoughts

 Shared last week that STI was in trading sideways (here), and that while i shared my stocks scans, i was not very particularly pleased with it as it was very good quality(here). Right now i am quite inclined towards a bearish STI.

STI is Bearish

Sideways trading preceded fall. Market cycle have 4 distinct (here), I could be wrong, but seems like since november 2017 till early jun 2018 market has been trading sideways.

Gap downs. Down trending because you will see lower highs, lower lows... in this case you see a gap down in mid june, and a gap down early july, who knows next will it be early aug....

price below 200ma. Circled the death-cross (200ma cuts down 50ma), or u can see it simply as price below 200ma.

Comments. 

• While not 100% confirmed bearish, but the outcomes possible are i) sideway trading, and ii) bear, both are no good for trend traders to buy.
• This is not a time for the trend trader to long, as trend for the counter will likely be weak. this is because market participants are wary. 
• Identify sector's/industry's strong counters. They fall less steeply than their weaker competitors, but will rebound  stronger and faster.
• Will be identifying good and profitable companies to enter.

Transactions

China Sunsine. Sold. because price broke SL, hold some time already, have to exit. Perhaps i should have sticked to my plan to cut on the trailing stop-loss. Because it returned back to buy price after more than 50days....Lesson to be learnt!

Holdings

CSE Global. It ran against my trading plan and has expired. But however, oil prices are having a re-surgent... need to see how the BBs use this fundamental to play retailers. Thinking of exiting.

JAPFA. Scaled-up, right now consolidating. I should have been a bit more patient and see a setup forming a support before enter. too late to regret, just stick to my plan.

Sabana REITs. This counter sort of expired without going any higher, looks like its time for me to cut loss next week.This is to regain liquidity, however i am a bit conflicted because end of the month there will be dividend, and with so little amount in this i might as well just hold it. but i do know the risks of bending my own rules.....