Following the selldown last week, stock markets recovered today. Should I start buying? The stochastics are recovering from oversold on STI and HSI, but Dow Jones, DAX and FTSE are still not oversold yet. Zhaojin, my closely watched stock is oversold stochastically, but gold is not. Many stocks on my radar are bouncing off from oversold levels (NOL, SembMar, STX OSV, etc). But, the Feng Shui Index says that the Index would taper off this month, and fall into June, presenting a real buying opportunity.
So, should I succumb to the temptation to buy? Not yet, as I am getting too many conflicting signals. Wait till June.
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