Mr. Bull Fight Back

Long candidates today:

Ezra
UOB
OCBC
Banyan tree

Genting
Hiap Seng

Genting Singapore

Genting Singapore's down turn may come to the end. It very likely will form a double bottom.

PEC Break Down

Chart On Straits Times Index

Straits Times Index was sell off yesterday heavily, down 59pts, nearly 2%. The support 2944 broke, since last night US up slightly, The STI can go either side today:

1. rebound to upside to fill up the gap between yesterday and the day before. With 2975 is the target, which is also the 20dma.

2. Continue slide down, then it could bring STI down to the next support, which is at 2886.

Indicators is on the bearish side.

Straits Times Index

First support level to watch is 2944 level, second support to watch is 2887.

It's Something Big Coming?

Market Update

Dow Jones end up with a doji at its major resistance 61.8% fibonacci retracement which is 11246 level. with the indicators macd histogram and RSI showing bearish divergence.



STI uptrend is well intact. Watch out 2972 which is its 20dma for the immediate support.

Sell in May and Go Away?

"Sell in May and go away"? This is not new, and the statment to me is completely fraud and meaningless. Just imagine if this statment is valid, then every May will be down. Just simply look back the chart, it's not the case. All these so-call axoims leaked out from the street but even the street don't believe it too -- it's meant for novices and outsiders.

In fact, May is just like any other month--sometimes down, some times up. Well...market has its own way. I'm not saying May will not down but it's possible to go either up or down. Let's be objective. Let market decide it.

Long candidates

Below are the long candidates under my radar:

GoldenAgri

Indoagri
Ezra
parkway
Olam
Midas

Maket Update

The US major indices SPX, Dow and Nas all break to a new high. The Dow Jones has been up and up and up again for eight consecutive weeks. Market get into extending bull run by by expected good earning results.

Asian market, local indices STI has beat both HSI and SSE for a nice, healthy uptrend( HSI and SSE looks tumble into a downtrend).

STI is currently trending in the nice uptrend channel, just rebounded from its 20dma support, expected it will continue cilmb higher. the immediate resistance is still the 52 week high at 3037.



As for individual stocks, I'm looking to buy those stocks are rebounding from their lows. Will be posted next...

ChinaFish

Long Candidate

Properties sector was selling down recently, but I see the downside is limites, most of the most already down to their support level and technical indicators are showing oversold signals. It may get rebounce in coming days:

Capitland
Guocoland
Hkland
Capitamall(Reits)
UOL
F&N
Wingtai

STI are Heading Higher

STI is well capped within the uptrend channel, currently it's support at 2957, and heading to the up channel line which expected leading STI to a new high eventually.

The immediate resistance is 2996.5 and the next one is 3037.76 which is the recent high.

China XLX waiting for a Bounce?

Sinopec Set Foot Here

Here's a good news for energy players:



The companies which will benefit from this huge project will be(I can think of by now):

Sembcorp
Rotary
OKP
PEC
CSC

Charts Set Up for Rebounce

Long candiates:

OCBC
Otto
Falcon
F&N
NOL
GoldenAgri
Midas

A-Reit

The Reits sector is not affect by government properties policies and still remain as a robust sector.

AscendasReits looks a good long candidate:

Market Update

US fell last Friday, market focus on Goldman Sachs's suit:

Goldman Sachs Group Inc. was warned nine months ago that Securities and Exchange Commission staff wanted to bring a civil case against it, but the investment bank didn't specifically disclose this to investors in regulatory filings, Bloomberg News reported Saturday, citing unidentified people it credited with direct knowledge of the communications.

Another woes to the market is the Air Travel affected byIceland's volcanic ash, Which will have a big impact on SIA.

Dow dropped 126 pts to near its 11019 last friday, Local Benchmark STI retraced too, the next level for 2980 then 2950.

Market Update

Obviously, bulls are in charge of the market now. But I see the uptrend get over extended. We might going to have some correction in coming week.

For US market, the benchmark SPX is approaching its 61.8% fibonacci retracement level at 1228( the tinted color in below chart), which is measured from 2007 top to 2009 low, and it's also its horizontal resistance level. SPX closed at 1211.67 yesterday, it's another 16 points to 1228.



As for Straits Times, it's likely will consolidate in the area between 2945 to 3040 for some time. Any pull back will offer long opportunities.

The Important Roll-Over

STI crossed 3000 yesterday, The three banks soaring super high contribute most part of the rally:

DBS +68c
UOB +94c
OCBC +21

My focus list for today:

Banyantree
FrsasersCT
Olam
Hyflux
CWT
China XLX
Kepcorp

We Are on Track!

This is today's news from Bloomberg:

Financial One

Financial One just posited for more upside move with target 60c, su[pport area is at 48c to 50c.

S-chips Stunning Move

Cosco


YZJ


CAO

Market Update

The Straits Times hit a record new high since the bootom out Mar of 2009, at 2976.11 last week. It was maily 2nd and 3rd liner small caps being fried hot.

The STI continue climb higher in a slow and steady pace, I'm continue focus on the four sectors in play, below are the stocks in my watchlist for different sectors:

Property

CMA
Ying li
Hongfok

Commodities

Noble
StraitsAsia
First resources

Marine/Offshore/Energy

Falcon
Mermaid
Ramba

Bank/Financial
DBS
SGX
Finacial One

Jaya Hldg

Jaya works out very well, it doesn't have much resistance until $1, behold.

Market Update

US market pull back last night, below are the over night numbers:

Dow 10898 -72
SPX 1182 -7
Nas 2431 -6

Straits times follow Hang Seng up 12 pts yesterday, the chart looks over extended to the upside. Please take profit or tighten up your stops for short term trades.

I'm watching for those stocks pull back to their support level for long opportunitites.

The Marines

Among the marine and offshore sectors, big brothers such as kepcorp, sembcorp, sembmar already ran up a lot. Now it comes to small brothers mainly 2nd and 3rd liner, I'm watching out below counters:

Jaya
CH offshore
Ezion
Ezra
Otto
Cosco
YZJ

Market Update

The US market bullish. Dow Jones is about to touch 11,000, S&P 500 continue climbing up, in a slower speed as market deemed to rise extended. It can pull back anytime.

Major Indices numbers over night:
Dow 10970 -4
SPX 1189 +2
Nas 2437 +7

Hang seng will resume its trading after two days closed for holiday. It's bullish set up from the chart.

STI generally looks bullish, any pull back is our buying opportunity. It's 25 pts away to the important psychological level 3000, currently trading at 61.8% fibonacci retracement level.

Hyflux Fight Back

Cup and Handle Pattern

SIA Engg is forming a nice cup and handle pattern( click HERE to know more).

All Green

I don't know how often this happen, but below picture are all in green for yesterday's market. It is rare. Among all the sector, S-chips(see S-chips counters few posts back HERE) and offshore counters are remarkable.

My Watchlist for the week(Long)

Below are my long candidate watchlist for the week.

Satsvcs
Venture
CMA
Falcon
C2O
CAO
Noble
YZJ
CWT
Ezion
Ying Li
StraitsAsia

Market Update

Good morning everyone!

The market look pretty bullish. US up up and up again, Asian markets including Shanghai, Hongkong had breakout last week, sending the indicies to new high.



As local benchmark, STI soared 55.56 points or nearly 2% on Fool's Day, is it a joke for us? The 20dma pointing upwards indicate the bulls are strong.



nonetheless, I'm alerted by the 61.8% retracement level at 2970 thereabouts, which is based on the 2007 high to 2009 Mar low measurement. It's another 30points from now.

A Moment of Exciting

Ho Bee's sudden spike down more like a mistake order.

Someone's Getting Fooled?

STI is at this juncture right now: It can go either ways-- up or down.