STI and global markets continue the decline. When I posted on the bear market on 21 August 2015, STI closed at 2,971.01. Yesterday (20 September 2015), it closed at 2,790.89, suffering another drop of 180.12 points or about 6.06% since 21 August 2015. The market continues to look bearish and moving closer to the market low last seen between October 2011 and June 2012.
As mentioned in my post on 21 August 2015, I feel that STI will find support at about 2,600. I am getting ready to purchase stocks that have sound business, good cash flow and pay good dividends. I will accumulate slowly on days when the market suffers a bid drop.
STI closed at 3,365.15 on 31 December 2014 and 2,790.89 yesterday. YTD, it has dropped 574.26 points, which is about 17.1%.
My portfolio return YTD is -0.8%. The actual loss should be about -1.3% because the closing price of one of the illiquid penny stocks I hold is artificial jacked up by someone who purchased 300 shares at a high price and distort my loss.
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