I have unloaded almost all of my MBT positions in my nimble port, where MBT used to occupy 40%. In my main port, I still have a substantial position (although I have unloaded some already yesterday).
Im keeping the rest for until we near 90+? I think the 'healthy' foreign buying is still consistent.
And, while we are on the subject of trendlines, all possible downward trend seems to have been breached. I expect chartists also believing in MBT again.
Only the upward channel remains:
If MBT goes down, it could be relieving overbought conditions only. My only worry is we're May already by next week. The Sell-in-May crowd is real and almost tangible. Theyve hit in June-July last year, yes. It's probable that we do another steep dive (temporary or not) within the next 3 months. So it's always good to maintain a 30% cash position (minimum), for the buying down.
We're also waiting for the earnings announcement of MBT, which should be out today or Friday.
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