January has come and gone and we are mid-way through February. If any of the old stock market sages had been hoping for the Capricorn effect to save their over-optimistic forecasts from being exposed, they must be sorely disappointed.
January was a bad month for most stock markets, although "bad" is a relative word, because bad depends on when you got in. Because given the volatility, everyone and his aunt are trading for beer and pocket money. There have been some lucky souls who managed to make enough to have a few rounds of yusheng.
So if the Capricorn effect has gone with the wind, what about a pre-Chinese New Year rally? Again, it was more hope than reality, especially this year. Especially with China -- the fount of Chinese New Years -- deciding to tighten lending and then to turn on the screws some more just before the arrival of the Tiger.
Shall we then wait for the Chinese New Year rally when SGX reopens on Wednesday, Feb17? Will the Tiger come bounding in and chase out the dozy Bull which, where stock markets were concerned, was really more a sick cow than a bull..
I shan't hold my breath.
Still in the best tradition of sooth-sayers, I shall say SGX will have its ups and downs this year, and know that I can never be wrong :-D
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