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STI to cross 3000 boosted by long-term investors

teeth53
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23-Feb-2010 23:54

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This is another set back that may spook regional bourses. (teeth53 just sharing info & thot).

http://money.cnn.com/2010/02/22/news/economy/consumer_confidence_index/index.htm
NEW YORK (CNNMoney.com) -- A closely-watched measure of consumer confidence fell sharply in February after three straight months of improvement, a research group said Tuesday.

The Conference Board, a New York-based research group, said its Consumer Confidence Index fell to 46.0 in February from an 56.5 in January.

According to a Briefing.com consensus survey, economists expected the index to fall slightly to 55.0 from 55.9. The index, which is based on a survey of 5,000 U.S. households, is closely monitored because consumer spending drives two-thirds of the nation's economic activity.

http://money.cnn.com/2010/02/23/markets/markets_newyork/index.htm
Stocks slide as confidence plunges

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WLBO_BB
Master

23-Feb-2010 23:19

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The STI seems somewhat undecided at this point in time. However, the range in which

the STI is trading in is shrinking. This usually points towards a breakout type scenario.

2925 is the upside breakout trigger and for the downside trigger, 2650

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ronleech
Master

23-Feb-2010 22:26

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Major correction? Generally, a correct will takes 8.5 - 10% off the index and last for 3+weeks which we had just last month....another coming?

tankuku ( Date: 23-Feb-2010 20:37) Posted:

Major correction is on the way starting from US- DOW. Will be be adjusting slowly low for the next few weeks. Following it will be asia due for correction after gaining for the pass 8 months of about 40 %.

Ecomonic fundamental still reamin weak but share had gain alot, against the basic principle.

Keep a lot out and do take profit if thing get worst.

Good luck

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lowchia
Veteran

23-Feb-2010 22:21

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Sorry problem with link.

Below is the correct one

http://singstock.blogspot.com/

lowchia ( Date: 23-Feb-2010 22:17) Posted:

STI increase by 25.09 to reach 2782.55 (+0.9%) at the end of the day. Overall the market is very quiet at the low VOL of 1190 million and in fact I would see this as a “false rally”. Low VOL and Gainers outnumbered losers 268 to 154 on almost a 1% gain shown that this rally is NOT a board way or any improvement of market sentiments. Overall the market is still cautious as investors look for more cues on the outlook of the global economy.

Any interested can look at my full report: http://singstock.blogspot.com/

Above shown are my 2 cents . Of course some may disagree with me

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lowchia
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23-Feb-2010 22:17

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smartrader
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23-Feb-2010 21:39

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probably not meaningful ...

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beruangface
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23-Feb-2010 21:36

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Dow -18

smartrader ( Date: 23-Feb-2010 20:40) Posted:

what is the future direction now ?

beruangface ( Date: 23-Feb-2010 20:36) Posted:

How come your prediction is contradicting with the futures

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smartrader
Elite

23-Feb-2010 21:07

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KEVIN'S TAKE on ... the stock market correction

Written by Kevin Scully
Tuesday, 23 February 2010
Kevin Scully, executive chairman of NRA Capital, wrote the following article in a posting on his blog yesterday. It is reproduced here with permission. The second wave of selling came late last week off an unexpected 25 basis point hike in the US discount rate. This is more a timing rather than a negative factor for the market. We all expected the low interest rate regime to be reversed in 2010 as the Global economic recovery gained pace. I was looking at the second quarter of 2010 so last week's hike was ahead of expectations but there was no inflationary pressure so rather than seeing it as a negative, it probably reflects a more comfortable view on the pace of economic recovery. The US yield curve (see chart below) was already priming investors for a hike in short rates. The Singapore market seems to have had its correction, the STI Index has moved back above its 100-day moving average which seems to be a positive sign. The second more important positive is the current results season for FY2009 earnings. As at today, the STI index was trading at 23 times historical PER but only 14.7 times prospective earnings. This is an improvement of 18 times prospective a few weeks ago and comes on the back of better than expected earnings and/or guidance. The Singapore market is now looking a little more attractive and less over-priced. While I don't know how long this correction/consolidation will last, the latest fundamental data confirms that its a good buying opportunity. So start to accumulate stocks which have met or beaten FY2009 earnings forecasts and who are giving an optimistic outlook for 2010. My preferred list of stocks can be found in my stock picks/model portfolio section. Recent story: KEVIN's take on ... CHINA ANIMAL HEALTHCARE, JAYA HOLDINGS Tme to pick stocks? THE CURRENT CORRECTION was started by sovereign risk concerns in Europe for Greece and possibly Portugal, Spain, Ireland and Italy. This caused the VIX index to rise to almost 30 but because the quantum of the Government debt is small about US$35bn....compared to the problems of some US banks, it is clearly solvable and a rescue package is already being put together by other EU members. The VIX index has also eased back to the 20 level over the last few weeks as the risks associated with debt problems in Europe is seen as being quite minor and unlikely to derail the Global economic recovery.

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boyikao3
Master

23-Feb-2010 20:57

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Long term of course I'd bet on RMB strengthening. But for short to mid term, not so. Why? Even if the Fed prints 3 times the money that they have had done, it is still not enough to cover the level of international and national debt that they have incurred over the past 50 years. What is happening now that all of us are witnessing is that Fed's borrowing rates is near 0% (and will continue!) but the dollar rising on low interest rates. What does this mean? We are witnessing the beginning of deflation and the sheer implosion of debt value within a Fed Reserve note - called the US Dollar! There is not enough real cash in the market to pay off people's debt, whether it be personal credit cards, state's debt, company's debt or America's debt! And therefore, the value of US dollar has to rise first before it goes down and we are seeing that right now since last November 09. There is no more appetite to lend or borrow like yester years. The fed will surely continue to stimulate the market with more cash but no one will be in the mood to borrow more or lend (since interest rate is 0%). People will be more and more obsessed with paying off debts that anything else. Is there any currency in the world that is more debted than US (besides Japan)? The value of US dollar will continue to rise against major world currencies for many months.

out-of-the-box ( Date: 23-Feb-2010 17:35) Posted:

boyikao3, can you elaborate? I know China has got highest of US Bond..

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smartrader
Elite

23-Feb-2010 20:40

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what is the future direction now ?

beruangface ( Date: 23-Feb-2010 20:36) Posted:

How come your prediction is contradicting with the futures?

smartrader ( Date: 23-Feb-2010 20:30) Posted:

Dow will cheong tonight,..

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tankuku
Master

23-Feb-2010 20:37

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beruangface
Senior

23-Feb-2010 20:36

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How come your prediction is contradicting with the futures?

smartrader ( Date: 23-Feb-2010 20:30) Posted:

Dow will cheong tonight,..

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smartrader
Elite

23-Feb-2010 20:30

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Dow will cheong tonight,..

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out-of-the-box
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23-Feb-2010 17:35

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boyikao3, can you elaborate? I know China has got highest of US Bond..

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Hulumas
Supreme

23-Feb-2010 17:29

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I beg to differ!

boyikao3 ( Date: 23-Feb-2010 10:47) Posted:

People who accumulate RMB now and expect it to rise due to global perspective that China will rise to super number 1 world economic status will have their heads cut off ! RMB should depreciate to an all time low against USD for the next few months/year, so beware!

ZebraCrossing ( Date: 23-Feb-2010 10:29) Posted:

Yes!

I am actually quite bullish on USD..

When people are risk-adverse, usually they will flock to USD. =P

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Hulumas
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23-Feb-2010 17:24

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In the large extent, you might be right, just to add with how about Indonesian Chinese-Singapura faces? Ha. ha.. ha...

niuyear ( Date: 23-Feb-2010 17:19) Posted:

Saw a post that said : Not proud to be singaporean - we still can be proud to be singaporeans for another 10 or 15 yrs but thereafter, you and I will be disappeared and we will see on MRT and most HDB flats more of such features : sino-singapura face feature, vietnam-singapura face , india-singapura face feature...........

Will our children marrying more of foreigners that turned PRs? or will they be working for China and India people in here....yet to see,but, it is not impossible. :)

I saw lots of chinese kids from china , super hard-working and flooded with scholars, be warned, they are the Elite who will become our rice bowl providers. :)

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niuyear
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23-Feb-2010 17:19

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erictkw
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23-Feb-2010 16:47

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DJ MARKET TALK: STI +0.3%; Few Near-Term Negatives - Dealer

Dow Jones Newswires | 23 Feb 2010 2:44pm

0645 GMT [Dow Jones] Singapore shares holding in positive territory following recovery in Hong Kong bourse. STI +0.3% at 2764.62 after staying negative for most of morning session, but likely to meet resistance at last week's 2797 peak. "I see very few negatives in the near term. On the corporate front, outlooks are being raised by the management of most companies. Although the (Singapore) budget was a non-event, the underlying argument is that you carry out these structural changes when things are OK. You don't try to raise productivity when times are bad," says sales director at foreign brokerage. Despite rebound, participation still low as volume modest. Companies turning in strong earnings among better performers: Yangzijiang (BS6.SG) +3.7% at S$1.11, SembMarine (S51.SG) +6.7% at S$3.64. Sentiment on developers still edgy as investors worry government not done with measures to cool property market. FTSE ST Real Estate Holding & Development Index off 0.1%. (FKH)

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ronleech
Master

23-Feb-2010 16:29

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For bros and sis who see this....go buy PEC ...from sources....

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GenghisKhan
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23-Feb-2010 16:26

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Market sentiment is driven by human greed & fear.

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