I am gratified that my emboldened move to buy UOB last week was the right move, as has been proven by the rebound since middle of last week. However, I do not expect this rebound to last very long, and will be using every opportunity to unwind my long positions. The explanation has already been given in my earlier blog.
An extract from Marc Faber's blog:
"But near term I would not buy industrial commodities because as I told you, I think the Chinese economy will decelerate very substantially in 2010, and could even crash. If the chinese economy decelerates or crashes, what you have is of course a disaster for industrial commodities (oil and copper)" - Marc Faber , 16/2/2010
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