My Investment Diary [Day 13] – Buying into the sell off

Action:

Added back AAOI at average 91 as well as Micron at 421

Insights:

Deploying cash raised into strength of the prior days’ rally. Despite the FUD and noise, there are signs of a local market bottom appearing. They always almost happen with this amount of sentiment!

Key was the market close. There were some late buying seen into the close and market internals are reflecting smart money offloading protective puts seen by a sharp decline in skew. The general market bounced off the 6500 and 589 levels which was key.

The waves are also complete into this A wave.

As such, TLDR, I am expecting a bounce beginning next week which I believe will carry on into April/May.

Hence the decision to redeploy cash into strong names which have sound technical strength and intact uptrend. These names usually will bounce back harder.

@Bridge Buzz SG