STI up 1.59%, up 58 pts

Quite a surprising turn of events. I'm half expecting Dow to have a big drop (-200 like that?) but it closed very well at -1 pt from -160 pts intraday. STI reacted accordingly and closed up 1.59% (58 pts) to close at 3707 with a volume of 2.49 billion. STI was actually sluggish throughout the morning session until after lunch where STI surged up strongly.

One stock which is very scary is Uniasia. Big selloff, big rally. Highly speculative with no story at all. SGX is still checking to see what is wrong with the huge volumes buy in and sell off (don't expect anything more than a cursory 'nothing's wrong'). Avoid unless you're the bravest.

Straits continued the bull run today. There's super big buy ups for this stock, it just keeps clearing the sell queue again and again. Intraday high at 2.68 but closed at 3.57. Today straits announced that it acquired additional coal licenses on Sebuku island. This is the second potential thermal coat acquisition announced by straits since listed in SGX. I think they are really cashing in onto the high demand and prices of coal. Cheong more I guess :)


Just like to say something about the charts for swiber. Looks like an ascending triangle with breakout level at 3.84. The resistance level 3.84 had been tested twice prevously but failed, perhaps this time there's more luck? If price breaks away from 3.84 with accompanying high volume, I think we can see a possible target price of 4.30. The scenario described will in invalidated if trendline support is broken. Let's see how this works out.

Europe quite green, Dow just opened. Currently at -7 pts.