where is the bottom?

lets hit some boring topics for the day.

i've been observing the market patterns these few days and the only conclusion i can get from it is that investors are in a state of confusion. from the looks of it, STI is heading downwards, and this is primarily due to the banking stocks such as DBS, OCBC and UOB. i could still remember a few months ago when someone told me, "hey, DBS is quite cheap now, only at 8 dollars plus, i think it may be good if i buy in some."

and my typical response was, "the end is not over, this isn't the real bottom."

people would ask me how i would know such an absurd fact. honestly, i am only speculating. that is my job. but if i were to give a rational presentation of my speculation, i would not make sense for a market recovery when most of the world's financial situation hasn't been solved yet.

i'm not an investor honestly. but i do look at the overall picture. i look at how the market operates. just like a doctor, i study the inner workings of the markets.

now, selling has set it. however, we have to cautiously tread this volatile market. the final wave, in my opinion, is now. but instead of a violent wave of selling, we are seeing a different last wave. this would be a slow but painful death. a high likelihood that this retracement will take the market back to the pre-bullish period of 2002/2003.

we'll wait awhile till DBS touches 6.25 to 6.50. currently, it is at 6.91.