Long Candidate: IndoAgri

Friday Wrap Up

T.G.I.F

STI has been bullish for the past two weeks. We are just beneath 3200 level now. Since today is Friday, I have few levels to look at for today to see how the weekly candlestick to close.

The "middle point" is 3175 of the whole week range. I'm bullish if close above it, and bearish if close below it. And Bullisher if above 3181, bearisher if below 3169.

I'm a little bit cautious as the US debt ceiling is like a bone in the throat, it can flip to the opposite direction wildly. I'm going to take small position and be nimble in order not to get caught.

Prepared for Downside

Good morning.

US market declined, Nasdaq also giving back its one week gain in just one day. It's not giving STI the necessary momentum to continue climb higher than 3190. Be prepared for a "volatile day".

I will be using Fibo levels as reference to support levels.
38.2%: 3143
50%: 3126
61.8%: 3110

Well Done! Genting

Last week, it was downgraded, stock price immediately got tumbled. and today good news come out, and it surged up by as high as 13.5c and closed up 11c. it's the champion of top performer...what the hell is going on?

If you try to figure out what's going on behind the news, it will be difficult and you will probably never have a right answer. I choose to focus on chart and have a faith in what it tells me( Click HERE for my Genting post on 21st Jul ). and I know I'm on the right track... Bing Bang!

Genting HK Trend Change to Upside

Genting Hk had a break out three days ago, completed its retracement yesterday and continue rebound... immediate resistance 42.5c and 44c. Any retracement will provide good opportunity to long.

Case Study: StraitsAsia

SAR had broken its two major uptrend line( as drawn in below chart) one week ago, but it didn't fall down further as expected. It goes sideway instead after the break--which I consider it as "rest mode". The major horizontal support 3.0 and 2.95 levels are still hold firmly so far.

It's also well supported by its 20and 50ma right now. Thus my take is: it's on rest mode and bias to bullish now.

Long Candidates

STI rebounding now, it has recovered about half of its loss in the morning, currently down 15pts at 3167.

Some of the long candidates I'm looking at with their support level:

COSCO @1.8
Sembmar @5.3
StraitsAsia @3.0

STI is Under Bull's Control

Good morning every one.

STI retraced a bit in the morning session, it lost 23 points at 3159 as I'm writing now. Some profit taking taking place. I'm in bull's camp as long as STI stays above 3120 support.

Weekend Lounge

STI Hit 3180 Major Resistance now

STI is 3179.12, up 40 points as I'm writing now. What a bullish day! Hope you all enjoy some profit as me:)

I'm taking profit off the table as it comes to major resistance 3180, well it may up few ticks or even more and I will missed some profit, it's ABSOLUTELY okay for it to continue go up after you sell your stock. No one can catch the all the fish in the river. I just want to take some cash and have a nice weekends.

Long Candidate:Genting SP

STI has been hovering around 3120( support) in morning session. The next resistance is at the 3145 (downtrend line)

Genting Sp looks a nice bottom fishing candidate to me. Support is 38.2% at 1.775, target is 2.0

Big Hi 5 to Bulls

STI turns to bullish following upbeat from US market overnight. STI support and Resistance levels to watch out:

R1: 3105
R2: 3120

Commodities are bullish, stocks under my radar for long:

Noble
Indoagri
Olam
Genting Sp
Cosco
YZJ
Kepland
DBS
Kepcorp

Few Long Candidates

STI is at 3088 as I'm writing now. up by 9points. Few "falling angel" for a possible rebounce in coming days.

COSCO is at its 1.735 support, it may form a double bottom here, 1.735 is also 61.8% fibonacci retracement level. If Cosco lost 1.735 important level, it could drop further to 1.54.

Noble Grp: hit 1.73 Fibonacci retracement level and rebounding now, 1.77 as I'm writing now.

Indices Are Not as Bad as We Could Think

The US debt limit raising before deadline 2 Aug, four PIGS in Europe no signs of recovery, etc...Many bad news flowing out continuously. I have learnt to ignore 95% of the "news", and try to stay as objective as possible with the real market.  I see general market is weak but still holding right now.

SPX: Support 1- 1307, support 2-1296, downside limited.

STI: Immediate S/R: 3069/3100

STI Outlook

Hi all, STI morning session closed at 3086, little bit change from its morning opening 3090. As I mentioned in my previous few posts, STI need to close above at least 3100 to show some bullishness. It has not show such sign so far.

On weekly chart( well, today is the last day of the week), it looks pretty bearish to me. The downtrend line is still intact, while there are still some room to downside which is at 3000( also the uptrend line). Let's see how will it go in the afternoon.

On daily chart, it has been range bound trading for the past four days. No clear direction to upside or downside, but given that weekly is towards bearish, I'd be very careful to go long at this moment. An early sign to upside is the STI close above 3100.

The New Era to Trade Singapore Market Online: KETRADE PRO

Kim Eng Securities has just launched its very first advance online trading platform. KE Trade PRO is an advanced and sophisticated online trading platform designed to enable you to perform faster online transactions for the SGX market. It's definitely a revolution for Singapore online trading experience.

It has many cool featurs and functions which I have been waiting for long long time. It's really amazing. If you are an active traders, this is definitely for you. Some snapshots for your review.
(click picture to enlarge)

(click picture to enlarge)

Few Notable Charts

Goldenagri: Bullish /Key Support: 68c, Target 73c
I'm bullish on it as long it above 68c.

SAR: Uptrend is well intact, Key support: 3.0 and 2.95, Target 3.2

Wilmar: Bullish, Key Support: the consolidation area 5.47~5.3, uptrend well intact as long uptrned channel is not violated.

STI Gap Resistance 3103~3116

US market rebounded over 150 points in the early trading as investors saw hope for further economic stimulus from the Federal Reserve. The Dow Jones Industrial Average saw a strong morning rally evaporate during the afternoon, but still finished with a gain of 44.73 points, or 0.36%, at 12491.61.

STI had an inside day yesterday, closed up 11points at 3088. The immediate resistance is the gap from 3103~3116, bullish if it stay above the gap, the 3090 is also a level to gauge the bulls and bears strength. To downside, immediate support is still at 3062 Fibo level.

The momentum is slightly bullish to me.

The Panic Plunge

STI dropped more than 60pts intraday today and recovered 20pts to close at 3077. It broke all my prepared support level and hit 61.8% fibonacci at 3062 then bounced back. major support levels:

Support: 3062
Resistance 3100

The general market is bearish, but some bottom swing trades are lucrative, I did catch some bottom fish and expect for a short term quick profit.

The relatively safer "Longs" to consider are:
Straisasia 3.0 support
Wilmar 5.45 support

STI Retraced

The retracement made me a little bit uncomfortable now. STI closed down 34points at 3117 yesterday. The immediate support levels are:

Support 1: 3114
support 2: 3100
Support 3: 3090

I will change my bias to downside only if it closed below 3090 for STI.

Talk to you soon.

Bias to Upside Move

Good morning everyone. On Friday, Dow fell over 100 points intitally and managed to recover half of its loss on close. In Singapore, I see many counters are bottoming out, I'm looking for more longs than shorts for this week in general.

Some of my long candidates: Goldenagri, it had a break-out last Friday after one and half months consolidation. a good entry point would be 69c-70.5c, target is 80c IF it can break 70.5c resistance.

Sembmar short term S/R: 5.21-5.3

Will update you soon.

STI Weekly Wrap-up

It's 4.38pm now, 22 mins to market close for this week. Just a quick wrap up for STI for this week here.

STI opend 3150 this week and currently it's trading at 3152, not much change. But it's up 10points from previous week. I'm cautiously bullish on STI as long it stayed above 3140 on close today. It may test its major resistance 3180 on coming week, on the bottom side, support is at 3125 then major one is 3100.

Overall I have had some "sashimi" for this week only, Goldenagri was running up so fast once it break 69c resistance, I have no chance to update here. Will share more trades with you on my monthly gathering session.

SGX to Introduce Circuit Breakers

SGX is going to introduce so-call Circuit Breaker which is what Shanghai and some other markets practising now. It simply means stock price can't trade beyond 10%(up and down) of a stock's opening price within a day.

"SGX - Proposes circuit breakers for securities market in H2

The Singapore Exchange (SGX) has proposed to introduce circuit breakers in the securities market in the second half of this year.
The circuit breakers, which act in situations of runaway prices, will apply to component stocks in the Straits Times Index (STI) and the MSCI Singapore Free Index (SiMSCI), exchange traded funds (ETFs) based on these indices, and extended settlement contracts on these counters.
Taking into account overlapping of component stocks in the STI and the SiMSCI, there are now 37 stocks - which include the three local banks, property giant CapitaLand and some of its subsidiaries, as well the big commodities players of Olam International, Golden Agri Resources and Noble Group - that will be impacted.
Under the proposal, trading can occur within a price band of 10 per cent from the reference stock price. If there is an incoming order that would result in a trade outside of the price band, it will be rejected and a cooling-off period begins. The reference price will be the opening price for the trading day. If there is no opening price for the day, the reference price will be the last available opening or closing price."

HKLand

HKLand appears at major trendline support with bullish reversal candlestick pattern: Bullish Harami Cross( click HERE to learn more on candlestick patterns).

STI in Symmetric Triangle Formation

STI is forming a big symmetric triangle pattern. A close above 3150 would push it further up. Currently its short term support is at 3125 and resistance 3136.

Think Environment

Thinkenv is not exactly a "Lottery Play" by definition as its price above 50c, nice chart for long position set up to me.

Be Aware of the Raging Bull

The raging bulls has been run up thus far, about 100 points in four trading days. Resistance comings tight on the top now, many shorts squeezed along the rebounce also added to the run up. As I always remind myself don't chase if  missed this run, don't do impulsive trading.

As at this juncture, there three possible way the market can go in short run(1~2 weeks time):
1. Continue go up (unlikely), I think the most it can go for this run is 3180.
2. A pause(sideway) or health retracement then go up (likely)
3. Last rebounce before it diving further down (unlikely)

Number 2 above is rather what I expect how it should go, but often market go according to its own direction.  Thus I do expect unexpected always.

My Blog Had a New URL Address

Hi all, my blog name is changed to http://www.sgtraderclub.com/, you may save the new URL address to your favorite now. The new address should be easier to access now. A Ho!

Hope you have a nice weekend ahead.

STI Middle Term Trend Still Down

STI has been rebounding up for the past two days, for 60 points. It's definitely a relief for bulls. But do take note for the longer time frame( Since 2011 begining), STI is still in a down trend. It's approaching its major resistance 3150(down trend line).

I would like to see the market has a "healthy" pull back before it continue run up, IF it were going up.

Case Study: Manhattan

Good morning. This is the post I composed and unable to post yesterday. I'm having some problems to post in blogger nowadays... well, since it's free. can't complain much. Anyway, I have already bought my own domain, it will be up very soon. Yar!

STI has full filled its mission for today. Target 3100 reached, it's trading at 3110 as I'm writing now, up 30 points. A beautiful window dress for the month, right? Don't chase if you missed it.

Manhattan appreared as a classical symmetric triangle pattern, reaching its target soon, now at 1.3. 人生最痛苦的事是你看着这支股票每天都在上，可是你却没有买。。。