Thursday, June 14, 2007

Swiber and straits asia broke out

Dow was up 187 points, bringing STI and the rest of the bourses up too. STI did pretty well, up 30 points when it opened to close at +22. Seems like 3600 is a pretty strong resistance as STI refuses to head anywhere near that region. That's always a bad thing because if it can't go up, it will go down. Fri being the usual profit taking day, might see STI going down. Unless there are major things happening macrowise, I don't think STI will go down by a lot.

Swiber gapped up to close at 13.9% after brokerage research raised the target price for Swiber at 2.76. Combined with the super high volume, I think this just might be a breakaway gap, meaning that I don't expect to see Swiber anyway near $2 for the time being. Powerful... But I think tmr it will retrace a bit, so don't be too happy yet.

Yongnam went down after increasing so much yesterday. It announced that on 15th June, they are going to present some materials for analyst. I think the rumors that are flying around - that yongnam will have higher target price of 0.60 - might just be true. We'll know perhaps by next week, after the presentation to the analyst and after they have done their work.

Lianbeng daily chart looks bad. There is a bearish engulfing candlestick, that might just push lian beng down. Support level 0.355.

For the 1st time in so long, my portfolio losses finally can smell 15 k!! Total losses stand at 15.5k, way down from my 30k losses. Just a little more and I'll be free from my losses :) Again, this is transient, so I expect this figure to fact, it should increase by tmr due to profit taking.

Dow futures +1, europe is all green.