The market has experienced 2 major relief rallies this year.
First is the bail out of Bear Stern,
Second is the rescue of Fannie Mae and Freddie Mac
And the Third is still in ‘making’ in Wall Street for Lehman Brothers which shall materialize before Monday market open.
The expected sharp temporary rebound shall help to correct the oversold condition and trigger another tumble very soon.
Therefore, the game plan is to short when market rally to resistance and wait at the support level to close position. All, shall be within one week.
The hot stock from The Edge can serve as a good guide as Singpaore financial sector stocks are least affected until now and 'have a lot of meat left'!
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