Markets Looked Tired



After having ridden the markets for about 15%, I can say that at present levels the markets everywhere looked tired. I did say that this year the Sell In May mantra may not be good advice. Good is good, it cannot lasts forever. The current run is sustained by additional inflow of funds back into the market place. We already had very decent months in March, April, May and June. A normal market rally or rebound rally normally don't lasts that long.

I would reduce my exposure to stocks from 80% to just 20% till the picture is clearer. I looked at the market leaders board for the past week and am totally unconvinced with the market leaders. If you are not going to go up, its down, baby. Look for me at 1,000 or thereabouts.

Markets cannot keep the momentum up for so long, we still have to remember that fund managers need to go on holiday plus they need to reserve their bullets for the last quarter.



p/s photos: Misaki Ito

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