STI Two days Heavy Sell off

STI closed -31.46@3336.01 yesterday, It once lost over 60points intraday but managed to recover half of its loss on close. The heavy sell-off hasn't been seen for long time.

Anyway, STI is still above the support 3320, within my defined support range 3344-3320. It's expected STI to stablise within the range for a while before its possible resume to upside. Thus, we can have time for a better entry price.

Stocks Drop as the Fed's Possible Reduce on Bonds Buying

STI Retracement Mode

STI dropped to its four weeks low yesterday, closed at day low 3367.47. Major support is at 3320 which is its previous resistance turn support level, if it were to continue retrace. The uptrend channel bottom is at 3344, also its 50ma level. It's expected 3344-3320 area could provide strong support.

STI general uptrend is still intact, it's too early to conclude the bears are coming.

Long Candidate: ComfortDelgo

Comfort dipped below 1.94 support level in last two days but the selling failed to follow through, it bounced back above 1.94, closed at 1.955. More upside as long major support level 1.94 hold.

SPH Plans to List Reit in July

From its annoucement yesterday:

Singapore Press Holdings (SPH) plans to list its retail properties in July to raise an estimated $1 billion in net proceeds and return 18 cents per share in a special dividend to shareholders, the media and property group announced yesterday.
SPH, which owns The Business Times, is targeting a $540 million initial public offering (IPO), including over-allotments of a real estate investment trust (Reit) holding the Paragon and The Clementi Mall shopping centres.
SPH plans to retain a stake of about 70 per cent in the Reit, valuing the initial market capitalisation of the Reit at $2.2 billion.
The sale of those malls to the Reit will raise net proceeds of about $1 billion for SPH, after taking out transaction costs and the discharge of encumbrances and payments to minority interests. The Reit will also bear a debt facility of about $900 million.
The proposed special dividend will use about $291 million of the proceeds, leaving about $757 million that will be used for working capital and to pursue "growth strategies across its property, media and other businesses", SPH said.  

SPH gapped up in the morning to high of 4.56 then fading the gap. Currently trading at 4.48, +8c. 1.10pm. 4.35-4.48 is its consolidation range, more upside is expected if it traded above the range.

Long Candidate: SuntecReit at Support 1.805

Suntec retraced to its fibo level 38.2% @1.805 yesterday, it was under retracement mode over past one and half month, after it hit 2.0 on 16 Apr. Currently trading at 1.815(12.22pm). It expected to rebound from here if 1.805 support hold.

Weekly Wrap

Hello everyone, I'm back. The holiday is a great recharge and I'm ready for more.

It seems the major indexes are in retracement mode last week. The three US major indexes dropped last week, after four consecutive up. In Asia, Shanghai had four consecutive weekly green candles, while STI dropped 56 points or 1.6% last week after five consecutive weeks up. HSI posted big drop for 2% as well.

STI closed at 3393 last week, the weekly candle looks pretty bearish, major support is 3320 if it were continue drop.

Holiday Mode

Dear Readers, there will be no post next week from me as I'm going overseas for my holiday. Will be back in action 26th May. Wish you good trading.

GLP: More upside Expected

GLP confirmed breakout on weekly chart. More upside is expected.

Stock Market in Bull Run

Dividend Play: LKH

LKH going to give dividend 0.045c or about 6% dividend yield based on current price 75c. xd Jun 6, 13. It's in a "slow and steady" rise now. High probability play.

Long Candidates

The breakouts, more upside is expected:

FrasersComm
SATS
UtdEnviroTech

NOL: Hit Bottom yet?

NOL obviously disappointed its investors, it's down 4% while benchmark STI up by more than 8% this year.

A little hope now as it hit 1.09 major support level crossed multi-year, a bouce for short while is expected.
(weekly chart)

Weekly Wrap

Liquidity flooding in the stock market following by the Central Banks rate-cutting plan. Which could push already-new-high-indexes go even higher...

Bank of Thailand( BoT) announced to cut rate too at 5pm today.

STI next major target 3607.

Singpore REITs Sector Update

Singapore REITs was one of the best performer among the world REITs. The outstanding performance has been continued for the first quarter this year. the REITs good not only because of their yield but also their continue growth potential. I had few posts in the past for REITs. Here is the latest report from Stanchart:

Yield is not a differentiator; buy growth
1Q13 SREITs results wrap
 In 1Q13, retail landlords outperformed our expectations while hotel REITs saw revenue decline

•  We believe valuations are not far from the peak, and we see just 10% upside from here unless interest rates stay low for a prolonged period
•  New listings offer better value at close to NAV, compared to the sector P/NAV of 1.24x
•  We maintain our Neutral stance on the sector. Our top picks remain CT and MCT

(click to Enlarge)

There is a new IPO started trading today: Croesus Retails Trust, which focus on Japan retail properties.

Few Charts for upside

Biosensor hit its downtrend line with huge vol, more upside if it break to upside.

The below REITs look great: SuntecREIT

FirstREIT

MapletreeLog

Long Candidates

STI hit new high today, +26@3409, high at 3410.4, Long candidates with current price:

Biosensor @1.24
Kepcorp @10.6
Wilmar @3.42
Tat Hong @1.455

Dukang Rebounded

Dukang: My previous trade was on pr 18 when it broke 36c resistance, it then went up as high as 43.5 in three days time. After that, it retraced down for 50% to low of 36.5 on May 2, entered into one week consolidation. It rebounded today with high volume after the retracement, would indicate the uptrend may resume. First target is its previous high at 43.5c

Weekly Wrap

It's a short week as we have only four trading days for the week. As first week of May started, many of you may immediately think of  "Sell in May, Go away". This convention saying for many years, there are many years it's true and also many years it's not. As for me, I just don't take it much. My trade decision is based on individual stock performance.

Below table shows major indexes performance for the week, STI still looks bullish. I don't see any major reversal signal.

Hot list and Breakout Plays

I have below stocks are almost on top of my focus list for long candidates:

Ezion
Wingtai
Tat Hong
Supergroup
Osim
Ho Bee

SuperGroup: the coffee is so tasty.


UtdEnviroTech: promising more upside, the run up not end yet.

Monthly Wrap for Apr

The month of Apr is over. Below table shows the major indexes performance for the month.

Hang Seng (HSI) gained the most in Apr with 2% increase. while the worst market is Shanghai (SSE) lost 2.6%. While STI, DJI and SPX all gained 1.8% and Nasdaq(COMP) gained 1.9% in Apr.  Overall the equity market are continuing its bull run, except SSE recovery involves too many uncertainties.



Monthly chart for the index: