Recently, all major markets had been sluggish and most had dropped significantly. Some examples are STI from 3300 to about 3000 (10% drop), Brazil from 74000 to 67000 and Hang Seng had dropped till 24000. I had previously sold my Brazil fund at about 73000 for a profit of 20% as it is one of the couple of funds that is still in the black and that I think it is edging too fast up.
For the past few days, most markets are flat without signs of improving. The Brazil index is showing quite a large fluctuations (1%-2%) and just yesterday, it had pushed up to 68000 mark. However, it is still too early to determine if the Brazil index would drop after a day of gains till 65000. As for the rest of the market, investors might wish to put in some capital but note that recovery might not take place that fast even though I think it is already bottoming out.
