Wednesday, March 11, 2009

Relief Rally is here... good thing I reduced my shorts

So the relief rally is here, although a bit too early for my liking, as I am still short on the S&P. Nonetheless, I knew this is bound to happen, and will now prepare to first, close out my remaining short positions, and if possible, take on long positions in H-shares (still my favourite class of equities to ride out any relief rally). So, here's my action plan:

Once I get "all-clear" sign from the market, i.e.,
ST MAs all nicely lined up,

Buy 6-10 lots China Communications/ China Railway Construction.

Remember, this is a bear market rally, so I have to be very careful with the quantity purchased. I will decide later how much to enter.

No comments: