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Short Positions
S/N	Stock	Date Start	Short Sell	Stop	Last	Buy	Date End	Cycle Phase	Risk Level	Status
1	Capitaland	1-Feb-2008	5.900	6.300	5.900	-	-	Initial Downtrend	Medium	Active
2	City Development	1-Feb-2008	11.300	12.000	11.300	-	-	Initial Downtrend	Medium	Active
3	Gallant Venture	1-Feb-2008	0.820	0.860	0.820	-	-	Initial Downtrend	Medium	Active
4	Keppel Land	1-Feb-2008	6.220	6.600	6.220	-	-	Initial Downtrend	Medium	Active
5	NOL	1-Feb-2008	3.190	3.400	3.190	-	-	Initial Downtrend	High	Active
6	SGX	1-Feb-2008	9.600	10.200	9.600	-	-	Initial Downtrend	Medium	Active
7	Straits Asia Resources	1-Feb-2008	3.390	3.600	3.390	-	-	Consolidations	Low	Active

Note: 7 new counters added for shorting.

Comments on Straits Times Index ( STI )

STI is in the Consolidations Phase, moving on to the Accelerated Downtrend Phase..
STI is once again at the Medium Term Support Level and has a higher bias of going below it.

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