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STI to cross 3000 boosted by long-term investors

Sporeguy
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05-Nov-2007 00:41

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could it be abc waves with wave c ending at 3458 ?

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Stupidbear
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05-Nov-2007 00:40

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imho.

Gap down with "effort" in closing above it's lowest price is not really considered a breaking of support. However, it does require more justification. Do note previous gaps up also.

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cashiertan
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05-Nov-2007 00:30

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*downside

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cashiertan
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04-Nov-2007 23:59

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STI in MACD bearish crossover . more ownside possible or sideways trading for the next few days or weeks.

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arowana1
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04-Nov-2007 23:11

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im seeing sti heading towards 3200 before next rally cos last week sti broke the parallel support channel.

any sti ta guru care to comment?

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paperless
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04-Nov-2007 19:17

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Nov 4, 2007

China's Wen cautions about HK investment plan

HONG KONG - CHINESE Premier Wen Jiabao urged caution on the eagerly-awaited plan allowing mainlanders to invest in Hong Kong stocks and set conditions for the implementation of the scheme, a report said on Sunday.

The as-yet-unfulfilled promise of the trial programme has sparked a bull run on the Hong Kong market since the end of August on the expectations that billions of dollars could flood into the city.

But Mr Wen said four conditions must be fulfilled before the scheme is approved, signalling a further delay of the plan as the government finalises the rules for it, the South China Morning Post reported.

He said Beijing should pass a law to regulate outward mainland funds to minimise the shock to domestic stock markets and look into how this might negatively impact the Hong Kong bourse.

Work should be done to raise Chinese individual investors' understanding of the risks of investing in Hong Kong stocks, he said, and that Beijing should seek the opinions of financial regulators before the plan is implemented.

'(We) should make scientific judgement and analysis on what impact the massive funds flooding into Hong Kong's financial market would have,' Mr Wen said in his first remarks on the issue during a visit to Uzbekistan.

Mr Wen also suggested a gradual integration of the Hong Kong, Shenzhen and Shanghai markets, the report added.

The State Administration of Foreign Exchange said on Aug 20 it would allow some mainland individuals to buy Hong Kong-traded stocks.

Although it did not specify an investment quota or say when the plan could start, the announcement triggered a rise of more than 40 per cent on the Hong Kong bourse.

Analysts fear the move could recreate in Hong Kong the volatility of the Chinese bourses, which is partly caused by frenetic speculating by individual Chinese investors betting on short-term gains.

Mr Wen said the government had been working to prevent price fluctuations and the formation of asset bubbles on the mainland. Chinese share prices have more than doubled in the past year. -- AFP

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psycho
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04-Nov-2007 19:17

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From my personal unique anaysing, placing the 30 sti index counters against the sti graph (and other factors), i am expecting to see minor rises with larger drops in coming weeks and hurting those without holding powers, this could be worst during a time when the hsi bubble burst, might go on till end of the year before sti starts shooting up and perhaps hitting around 4,000 points mark come feb 2008.

These are just my personal homework using my own unique style of reading from a different angle, so please don't 'f' the hell out of me if it does not happen or if you do not agree, but i am sticking to my own graph.

Thanks

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paperless
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04-Nov-2007 17:27

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[新聞]黃遠輝料港股明日調整
11月 4日星期日 12:25 更新

工銀亞洲董事黃遠輝表示，受到港股直通車無法短期落實消息的影響，預計明日股市將有調整。

黃遠輝表示，預計明日港股有機會下試3萬點，實際跌幅要視乎市場承接能力。

Let's see how STI going to surprise us on monday.

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domlim88
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04-Nov-2007 09:49

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I think these writedowns will already to priced into the US Indices. Resignation of CEO historically causes share price to go UP not Down.

Downgrades on US financial stocks were already carried out on Friday. And the indices finished positive despite MER -8% and Citi -2%. Volatile as it may be.....I think buy on dips and hold what you have bought because these bad news will pass really fast. Unless you expect Citi or MER to go bankrupt....that's crazy talk. BIG BOYS should be buying now to prepare for year-end rally.....you don't miss it.

166,000 jobs created instead of the expected 80,000. The US economy is quite resilient right? More jobs = more spending = economic growth

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teeth53
Supreme

03-Nov-2007 00:29

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Yells: "don't learn through life, learn to grow with life "

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This coming trading week, there is nothing much...except bad news, alot of back news from Wall Street. like this one...

Shake-ups on the Street

The mortgage morass has unleashed a restructuring wave on Wall Street as banks attempt to clean house. A look at some of the major moves. By Grace Wong, CNNMoney.com staff writer

Be mindful, have profit, take some and compensate for losses from other traded stocks. Be prepare for volatile trading....YA!!!

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teeth53
Supreme

03-Nov-2007 00:12

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Stock selloff deepens on credit market fears (source...money.cnn.com)

Help!!!!!!!!!!!

Merrill (green), Citigroup (aqua) and Bear Stearns (yellow) have all fallen about 30 percent in the last six months.

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teeth53
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02-Nov-2007 23:57

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STI is following, mirroring Wall Street come Monday.... Smiley

. It has started today. Smiley

Straits Times Index Last:3715.32 Vol:2,401.1 m

-88.24

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teeth53
Supreme

02-Nov-2007 23:49

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Regionally we painted a rosy picture, while Wall Street just realized something is not very right with their economic.....and was concerns about their earnings and downside in their finanicals. Smiley

Coming to Wall Street - a $10B hit (rising cash >30 billions to shore up it capital and Exxcon Mobile's earning missed analayst estimate.

11:02am: Deutsche Bank analyst sees mortgage fallout affecting earnings through end of year; Merrill, Citi to be hit hardest. (more)

? Financial sector stocks in retreat

DOW

-99.26

13,468.61

-0.73%

NASDAQ

-9.33

2,785.50

-0.33%

S & P 500

-13.47

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Galileo
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02-Nov-2007 20:31

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I agree with Newmoon, & with S'pore relying so much on the USA markets (like it or not) & until the USA stops printing money, Bush is gone next year, somehow they extract themselves from Iraq to stop the FED from bleeding then their enonomies will start to improve, & the rest of the world will benifit. But in the years to come when China is the main power house we will not be able to manufacture, export & sell to China like we can to USA ?

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newmoon
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02-Nov-2007 17:38

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USA

The only solution that the banking regulators and the politicians and the Fed can think of at the moment is to do what got them into this problem in the first place-create more debt .

Shanghai;

The stock market boom in China has created the 5 largest companies in the world by market value.

This is a source of great pride for the Chines government but this honour could soon turn into a big headache.

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sean68
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02-Nov-2007 16:34

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final 25 minutes of the week, dun play play, exit all my market positions and have a nice weekend

cheers to all

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Manikamaniko.
Master

02-Nov-2007 16:32

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Newmoon... :)

As usual, you have inspired us much... Smiley

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newmoon
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02-Nov-2007 16:22

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The bursting of most asset bubbles has been postponed by Bernanke.

The result of his policy is hyper inflation and great volatility.

Quote of the Day;

                            Were there a mountain made of gold

                              doubled that would not be enough

                               to satisfy a single man

                              know this and live accordingly.

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myinvest
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02-Nov-2007 15:49

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Straits Times Index - How much lower can it go?

By Ritesh Menon
Tue, 23 Oct 2007, 08:53:30 SGT

How much lower can it go?

- We warned on 16 October 2007 that the Straits Times Index?s (STI) rally was getting rather long in the tooth, with warning signs piling on.

- We highlighted 2 quantitative findings in our previous report that we felt were signaling signs of danger. The first being the percentage deviation of the STI from its 200-week moving average; at that time, it was 159%, which had exceeded its 26 year mean of 156%. The second finding was the standard deviation (SD) of the STI from its line of equilibrium; it had gone past 1 SD to come very close to 1.5 SD. Both the standard deviation values held great significance over the last 26 years as these served as critical levels at which the STI had touched and corrected shortly thereafter (refer to chart 1).

- In addition, the muted performance of stocks within the Banking, Property and Transportation sectors that had provided the initial clue a few weeks ago that the rally we witnessed over the last 2 months was weak and lacked conviction. Stocks from all 3 of these crucial sectors failed to reach new highs as the STI had, and lagged the overall market rally since the recent sell-off in August 07. Only SIA managed to hit new highs within the basket of transportation stocks. This performance lag indicates that the STI?s rally lacks conviction, which could translate into a further weakness ahead (refer to charts 2, 3 & 4).

- If the STI does not revert back to its line of equilibrium over the next few weeks, we could witness the delay of an inevitable reversion, which would rear its head once more over the next few months, and could result in a steeper and more painful correction of the STI.

- Where would this level of equilibrium lie? Based on our quantitative observations, we feel the STI would need to settle close to the lower channel of the standard deviation scale of 1. This would also be in proximity of the 200-week moving average (refer to chart 1).

- In the short-term any rebound would take the index back up to its 1st resistance at 3,870. Immediate support set at 3,550 and subsequent support set at 3,300 (refer to chart 5).

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sean68
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02-Nov-2007 15:06

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02-11-2007 14:51:32
UPDATE 2-Gold regains strength, takes aim at $800 an ounce

(Updates with closing in Tokyo) By Lewa Pardomuan SINGAPORE, Nov 2 (Reuters) - Gold bounced on Friday as bargain hunters resurfaced after price declines the previous day, with the metal on track to breaching the psychological level of $800 due to high oil prices and a struggling U.S.

dollar.

Spot gold rose to $789.90/789.60 an ounce from $788.90/789.70 an ounce late in New York on Thursday, when it dropped nearly $3 after crude oil fell from its record high and the dollar recovered slightly against major currencies.

Gold also attracted safe-haven buying as Asian stocks fell more than 2 percent, led by financial shares after broker downgrades of U.S. banking giant Citigroup triggered worries about further fallouts from credit market problems.

"I wouldn't be surprised if it went through $800," said David Moore, a commodity strategist at the Commonwealth Bank of Australia.

"I still think in the longer run it probably won't sustain those levels but in the near term, I think that's quite possible. The gold price has been higher than I thought it would be." Speculative buying had pushed up gold to $799.30 on Thursday, its highest since January 1980, when it hit an all-time high of $850 an ounce, before profit taking dragged down the price to as low as $784.10.

"A terminally ill looking U.S. dollar, geopolitical tensions and the onset of increased demand ahead of the northern hemisphere winter are all supportive for oil," said Investec Australia in a daily report.

"While for gold, the risk of inflation can also be added to the melting pot. Volatility will continue to be the dominant feature of both markets," it said.

Gold often tracks crude oil because of its role as a hedge against inflation. A weaker dollar also makes dollar-priced gold cheaper for holders of other currencies.

U.S. oil for the December contract rose 9 cents to $93.58 a barrel on Friday, having fallen by $1.04 a barrel after striking an all-time high of $96.24 a barrel the previous day.

After adjusting for inflation, gold's record high of $850 is equal to $2,079 an ounce at 2006 prices, according to metals consultancy GFMS. Prices have jumped 25 percent since the latest rally began in mid-August.

Philip Klapwijk, chairman of GFMS, said inflation worries and a weak dollar were likely to push gold towards $850 in the first half of next year. [ID:nSEO262094] The key August 2008 gold contract on the Tokyo Commodity Exchange <0#JAU:> ended 46 yen per gram lower at 2,937 yen.

The dollar was flat at 114.61 yen and edged up at $1.14436 . The single currency topped $1.45 on Wednesday for the first time since its launch in 1999, logging a record high of $1.4508 on trading platform EBS.

Trading was muted as investors awaited U.S. employment figures due at 1230 GMT that could offer clues on what the Federal Reserve will do at its next policy meeting in December.

The Fed earlier this week cut interest rates by 25 basis points to 4.5 percent but moderated expectations for further rate cuts by saying inflation risks were equal to the possibility of slower growth.

Tokyo's Nikkei average <.N225> ended 2.1 percent lower, while MSCI's measure of other Asia Pacific stocks <.MIAPJ0000PUS> shed 2.4 percent.

"I still think we are in an upward trend momentum," said William Kwan, a dealer at Phillip Futures Pte Ltd in Singapore.

"Where will we be heading? Firstly, of course we will break out of $800. Once it's taken out, a lot of stops will be triggered. They will conquer a lot of short sellers," he said.

COMEX futures inched down in Asia, with the most active December contract down $1.7 at $792.0 an ounce from the New York settlement. Gold futures breached the $800 level, touching $802.50 in afternoon electronic trading on Wednesday, after the Fed cut rates.

In mining news, AngloGold Ashanti Ltd , the world's third-biggest gold producer, said it was reviewing its operations with a view to disposing of assets that do not add value, and might also lighten its hedge book. [ID:nL01373562] The chief executive of the world's No. 1 gold producer, Barrick Gold Corp , said he was still bullish on gold, pointing to pinched supply, the weak-U.S. dollar and rising inflation as factors favouring gold. [ID:nN01446026] Platinum fell to $1,434/1,439 an ounce from $1,444/1,449 in New York. Palladium fell to $368/372 from $369/373 an ounce.

Silver dipped to $14.10/14.15 an ounce from $14.15/14.20 an ounce.

Precious metals prices at 0646 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 788.10 1.10 +0.14 23.97 Spot Silver 14.10 0.00 +0.00 9.73 Spot Platinum 1434.00 -10.00 -0.69 26.68 Spot Palladium 368.00 0.00 +0.00 10.84 TOCOM Gold 2937.00 -46.00 -1.54 20.12 105036 TOCOM Platinum 5162.00 -98.00 -1.86 21.34 42663 TOCOM Silver 523.30 -17.40 -3.22 6.08 2957 TOCOM Palladium 1377.00 -24.00 -1.71 9.72 419 Euro/Dollar 1.4432 Dollar/Yen 114.57 TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce.

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