Further Drop, Further Purchase

I bought into Singapore banks today -- UOB and OCBC.

Interestingly, this is my first purchase of UOB. I have not bought UOB before. Both banks, I believe, are yielding at 4% which is sufficient yield for me.

I also added to Religare Health Trust. It fall another 7 cents after purchase. Hope that it can fall more, so that I can get to buy more.

Given the large drops over the past few days, I feel that a technical rebound should be seen soon.

Looking at the 2011 drop, it started in late Jul and end in late Sep. After that, it went sideways till the end of year.

The current drop starts in mid Jul. If the current drop mirrors 2011 (it most likely won't), it may start to stabilised around mid Sep and probably go sideways for a few months.

Looking around the forums and blogsphere, the forums seems to have more dread. But the blogsphere  (including myself) seems un-fearful.. This implies that we have not reached the point of maximum pessimism and further drops is in order, I guess.