To The Moon

The Year of Opportunities!

2022 was a very challenging year! The markets were under pressure the whole year and it was a tricky venture trying to chart road maps no thanks to a market that keeps making three waves in either direction. That makes decisionmaking tough as we cannot rest on out laurelsand expect the market to be plain sailing. A three wave is tricky as it means trend can always reverse guving rise to a multitude of probBilities and its not as straightforward as when a clear five wave pattern appears. Price action at important levels hence becomes very critical and agility in the market is essential if you want to be actively vested rather than passive. 

2022 has now come to a close and many are hoping that 2023 will be a better year for the markets. Many fundamental challenges still exist but it is prudent to remind each other that the markets might move contrary to fundamentals and sentiments sometimes. Just look at 2019. Economics were pointing south with a raging pandemic. Yet markets keep charting new highs. Some might argue the FOMC helped to a certain extent. But we cannot discount the fact that the market likes to move to its own beat. Hence my preference towards charts to read market directions.

My last trade in the US market was a few days back in $NVIDIA Corp(NVDA)$  where I decided to add more to my position at the 61.8% retracement levels. In the Singapore market l, I added more to $MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$ which seems resilient at these price levels. 

Other positions which I have added on to are $Advanced Micro Devices(AMD)$ and $Taiwan Semiconductor Manufacturing(TSM)$ . 

Thanks for reading my commentary. 😊