After many months of bull run since March 2009, the bull started showing sign of tiring and a break is much needed to re-energize the bull. The current Asian markets correction is partly due to high inflation impact, as most governments have no choice to further tighten the monetery policy like increase the interest rate and reserve to counter the high inflation.
Immediate Trading Strategy
As a result of sudden pull out by the foreign fund from the Asian markets, it created a bad sign that this correction will stay longer and more severe than any during this long bull run. Thus, I would suggest to clear all stock holding position, keep 100% bullets, and waiting for bottom fishing opportunity.
Immediate support level: 1,480, 1,450, 1,400.
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