Supplement: Uptrend
The STI has risen steeply this week. It is clear that a bottom has formed and we are seeing an impulse wave forming. This would be Wave 1, to be followed by a corrective Wave 2. Those of us with high risk appetite would be getting into the market now, and those who are more conservative would wait till after Wave 2 is formed. By investing at or near the bottom of Wave 2 we can ride up the strong Wave 3. Either way, do not jump all in. Be selective and invest progressively, as you will spot more good opportunities as the market continues to rise.
It pays to be patient. Invest in a stock when it has clearly formed an uptrend and not when you hope or expect an uptrend to form. Apply Elliott Wave Principle analysis like I have applied it on the STI.