As of now, I am still bearish on Market.
2 main issues at hand here:
1. OPEC/BRIC not cutting production of oil, and allowing oil prices to go down. (Saudi trying to kill the rest of the market or rather, take back its market share, especially Shale oil.)
2. Slowdown in China - We know now that China is cutting some production of Steel, which may be a sign of more production cuts to come. (http://www.bloomberg.com/news/articles/2015-12-13/steel-output-in-china-drops-again-as-more-cuts-seen-on-the-way)
As long as the above mentioned are true, I remain bearish. However, I may go long once one of them is false.
I see Keppel dropping to $4.75 today. I will cover my short at a loss (Was holding to this baby for some time already)
China might recover on Wednesday since the consensus is at 50.5 compared to previous of 50.2. (Caixin China Services PMI)
