Straits Times Index   

STI

Ahh, US market down last nite - Dow down 0.6% and Nasdaq down 1.2%.

Monday, STI should not be affected after DBS & SIA posted better earnings yestersay!

 

Correction should start now. we should expect at dip to 2500+ region before climbing again to 2780+ and than to 3000 by end of Feb to june. yes 500+ is nothing. 

 

Hi, Allantanhc ... My overview is US market should close just reddish (almost flat) tonite.

Should it be so, STI will stay afloat on Monday cos it has slightly corrected liao today.

 

Hi, billywows, I share your bullish sentiment. Based on what I was thought in TA, it tells me that STI has the potential to go up to 3070 if it does not go below 2667 in corrections. I really hope that this prediction comes true by next May.

Having said that, I think correction is imminent. Dow is now down 17 points having gone down more than 50 points in early trading. If it ends in red, STI will follow suit on Monday.  

 

October should have been a bad month traditionally, but this is surely an exceptionally good October!

Have read it somewhere: "Buy in November and sell in May".

Hmmm .. I have this funny feeling that global markets will continue to maintain at their current level with only small corrections through next May'07 - not huge ones. And it will be a rosy chiong year for TECH next year too. 

Let's see if my gut feeling is right as its indeed scary where STI and Dow are at their record highs now.

 

Receive a Kim Engs technical analyst. Hope this re-directed msg is useful.

*** STI  has  risen  from  a low of 2319 in mid-July to a high of 2754 today, a
gain  of  435pts.  The  rise has been interrupted by technical pullbacks to
cool  off  overbought  technicals.  Predictive  wave  pattern suggests that
another  pullback  could  be on the cards. The daily/weekly stochastics and
RSI  are  at  overbought levels again. If a pullback initiates from here, a
23.6% downward retracement could see the STI testing 2688.

Traders who are already aggressively long in stocks should consider the STI
2650ePW070227 put warrant as a hedge against a market pullback. The warrant
has ample liquidity and a comfortable 4 months to maturity. ***

 

    It's a yo-yo day today. Agree that we should get ready for a correction. Once US closes lower tonight, STI is likely to drop sharply on Monday. 

 

STI might wanna test 2830+ (2840) before being satisfy to come down. Sigh....no correction till next week.

Next week can start put warrants. put 2450 for those who wanna make quick money in little time. S$0.015 seems like a good entry point. But dont buy yet in case no correction.

;-) (5 cens worth)

 

wow, volume is high, and STI is still rallying upward (even on a friday, very unusal). DOW was up yesterday. If STI close above closing price during lunch, then the strong momentum means that any dips after lunch provides a good chance to accumulate.

No put warrants today. Top volumes and ICBC warrants seems to have more upside later, esp. small caps stocks.

 

Profit taking today

 

Can someone recommends any particular STI warrant to invest? Thanks.

 

i am thinking, oct shud be still rally. But may show signs, i think i agree, 1st week of november, will start the bear. ;-)

so not so early for the puts, still got 1 week, relax ...

 

    Agreed. It is a good advice to be cautious. The May 2006 correction is still vivid in everyone's memory. DJIA and STI charts are fast looking unsustainable now. The higher the climb, the heavier the fall. Good to have a healthy correction sooner rather than a sharp decline later. 

 

Thanks YongJiu  for your post!

Today, we see speculative stocks being chased up, like Equation and centillion. Whenever this happens, i feel that pple are being confident (overly), and it is a sign of caution.

YongJiu, if this is really true, and then when the time comes for correction, these foreign funds will exit very very fast, and since the whole financial sector is awaiting a correction, any news now, like terrorist, or oil price hikes, election campaign, will send the DOW and the STI to the exit.

Since all stocks are now overbought, it is only natural to have a correction, again. :-)

 

There may be some truth in YongJiu's post. I was looking at the trading volume. Now its only about 422 million, which is not alot. If the STI is pushed up only by a few counters, then its not a broad based rally. If so, then better be cautious.

 

With STI at new high, trade (if you are day traders) only counters with positive news and houses' calls.Good luck peers!

 

I was told by a frend who work in the financial sector, lot of foreign funds has been pump into M?sia & Sg mkt recently. The STI is pushing up high mainly by a few selected blue-chip counters.

The question is how long they will stay in?

 

Yeah Incirent I agree with you that the CEO is does not deserve the reward. To stay on top of the edge, SPH need revamp!!!!

 

STI may test 2,730 mark today after US rate pause last nite .... Scary ya!

 

Eddie Wong, chief equity strategist at ABN AMRO in Hong Kong, said investors were increasingly looking at Singapore banks and property developers as proxies for regional growth.



"Regional operations account for at least 35% of their (Singapore banks and property firms') total net profit," Wong said. "Our Overweight call on the Singapore market is for two key reasons. One, to participate in the improving private demand and emerging domestic asset reflation story. The other, as a play on regional growth."