12 April 2008

Confirmation of the FXP Position

Here's the key graph from this recent MarketWatch story on the Hang Seng:

Andrew To, sales director at Tai Fook Securities, said the market was in an "overbought" zone after rising nearly 4,000 points in the past two weeks and faced profit-taking pressure. "Some analysts expect the beginning of another bull run would take the Hang Seng index to 26,000 or even higher. My personal view is that (the recent rally) is just a big technical rebound, rather than a turnaround, in the current bear phase," said To.

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