CapitaMalls Asia: Bought more at 161.8% Fibo line.

Just two sessions ago, I bought shares of CapitaMalls Asia at $1.335. Then, I commented on the very high volume behind the long black candle and wondered if price could go lower.

I used Fibo lines to estimate where the stronger supports would be in case of further selling and $1.265 is where the 161.8% Fibo line approximates.

My overnight buy order at $1.265 was filled this morning as price gapped down following the drastic overnight sell off in the US and European stock markets.

$1.265 is beyond the lower boundary of the MA envelope and if volume remains relatively low at the end of the day, things would look more benign.

Panic and sell now? No.

A sea of red! Have a plan and execute it!

US stock market plunged 5% overnight. European markets plunged overnight. The Singapore market opened some 100 points lower. Such ferocity in selling, I have not seen in some time.

Panic is palpable. Fear can be petrifying. However, if we have a plan, fear could be less so.

My plan is to continue investing for income and I like AIMS AMP Capital Industrial REIT and Sabana REIT.

Today, I bought more units of Sabana REIT at 92c. Looking at the chart, 92c should be a natural support level but we have to see how it closes this evening.

If it is unable to close above 92c this evening, we could see price going lower to test 91c and 90c for support. I would buy more then. Good luck.