I'm home early to pack my bags to get ready for tmr's in-camp training. Also to blog in some reflections about all that had happened. It'll be quite some time before I can blog again.I had read many books talking about whose vested interest it is to hold stocks and never let go. The rationale is usually that if you hold for long periods of time, the trend will ride out all the volatility and short term price flunctuations, giving you a returns of worthy of keeping it long term. The earliest STI data I can find is from 1st April, 1985, with STI...
Sunday, September 30, 2007
Friday, September 28, 2007
STI close at 3706 with volume of 3.1 billion
STI went down to 3680, touch and test support and rebounded to close at 3706 (still above 3700), down 8.54 pts or 0.34%. Volume is 3.1 billion transacted.I see this as a good sign. Stocks don't go up in one straight line, as Decipher always put it. It goes up then retrace, up again to break resistance and retrace again to test resistance turned support before going up. This way, each climb it takes is firmer because with each retracement, those...
Thursday, September 27, 2007
STI broke new high, close at 3714
Haha, quite a number of things I mentioned all came true, quite uncanny :PFirstly, I wondered if STI would break 3700 barrier, well it really did! I didn't expect it to reach so soon. I can only say that opinions are often wrong but the market is always right. Doesn't pay well to argue with the market. Today STI closed at all time high of 3714 (up 64.5 pts representing 1.77% increase), with a volume of 2.95 billion. That volume alone is worth mentioning...
Wednesday, September 26, 2007
STI up 25 pts to close at 3650
STI close up 25 pts at 3650 with a volume of 2.26 billion. Fantastic run up :P Looks like we might be on track to reach 4100 by year end. In the morning session, STI was quite directionless, bouncing up and down. But in the afternoon session, STI had a sudden spike up. Next stop - 3685?Swiber had wonderful news announced today. It entered cooperation agreements with petrovietnam construction joint stock company and vietsovpetro joint venture to tap oil and gas market in vietnam. Both companies that work with Swiber are state-linked companies and...
Tuesday, September 25, 2007
Construction stocks coming next?
STI did pretty well today. In the morning, it rose steadily up, hitting as high as 3650 which is just 30 points short of pre-crisis level. But late selling off made STI close at 14.20 pts (0.39%) at 3624 with a volume of 2.32 billion (slightly more than yesterday).Not sure if it's just my watchlist, but I think today a lot of penny runs. Construction stocks rallied strongly (and close strongly, yeah!) with rather high volume. CSC rallied up 0.015...
Monday, September 24, 2007
STI rallied strongly up 96 pts to close at 3639
STI is very bullish today, closing 96 pts up (2.73%) at 3639 with a volume of 2.29 billion shares. The rise should be largely attributed to SGX rally. It rose $2 to close at $13.70. Really spectacular rise over such a short span of time!I wonder what's up with the regional bourses. HK also did very well by closing up 651 pts (2.52%). All over asia pacific is a sea of green, with HK and STI doing exceptionally well. It wasn't as if Dow did very well...
Saturday, September 22, 2007
STI down 10.24 pts with volume of 1.77 billion
STI is quite resilient today. In the morning it dropped quite badly, but picked up towards market close. It ended 10.24 pts down (0.29%) with a volume of 1.77 billion. Lianbeng don't know what happened, towards market close suddenly there are huge lots of buy ups that pushed the price to close at 0.480. The charts for Lianbeng is very nice, can look forward to more run up in the price for sure. I sold it at 0.450, oh well, missed another 0.030 profit....
Thursday, September 20, 2007
STI dropped 41 pts to close at 3552
STI dropped 41 pts (1.17%) to close at 3552 with a volume of 1.91 billion (much much lower than yesterday's 2.5 billion). Quite a quiet market today. I don't like it that STI hit resistance at 3600 and went down. Support around 3570 didn't hold towards market close. Construction didn't make it today. Okay, maybe it's not a fair statement to make, since almost every other stocks also fell. I just felt that pennies fell harder, at least from my watchlist. I queued to sell lianbeng at 0.450 before I left for work in the morning. I've rode the Lianbeng...
Wednesday, September 19, 2007
STI up 3.47% to close at 3594: Aftermath of FED rate cut
Dow surged strongly yesternight after FED surprised the market with a bigger than expected reduction in the interest rate. FED reduced interest rate by 50 basis point. Dow surged up 335 pts, representing an increase of 2.51%.STI reacted strongly in the morning when it opened for trading. It gapped up to 3600 (3.47%) before profit taking starts to take place. STI closed 116 pts up (3.35%) to close at 3594, just 6 pts short of clearing 3600. We are...
FED cut interest rate by 50 basis point - from 5.25% to 4.75%
Fed cuts interest rate by 50 basis point :PStraight away cheong up :P There's one point it shot up +214, then it came down again. Oh well, got to wake up early to see the action. Basketball, FED really surprised me with its 50 basis point cut. I expected (and the market expected) 25 basis cut, but really...this is something :PTmr CHEONG AH! Let's see how it closes ...
Tuesday, September 18, 2007
Eve of FED meeting
Haha, important day is here - FED meeting :P From the looks of Dow now (+97), seems we're set for at least a rate cut of 25 basis point.STI closed neutral after gapping down. Okay lah, I expected worse and it didn't come out so bad. STI close 1.44 up at 3477 with a volume of 1.9 billion. If rate hike drops, property counters should cheong. That's what is happening, just take a look at the top counters today, all the 'land land' stocks all rallied, haha :PEurope not bad, around 1% gains. Dow now is at +84. Must wake up early tomorrow to see action...
Monday, September 17, 2007
STI dropped 60 pts to close at 3476, ahead of FED meeting
Woah...STI dropped 60 pts to close at 3476, representing a percentage drop of 1.70% with a volume of 2 billion. Knew something isn't right with the way STI climbed end of last week, with lots of breakout failing.Theme of the week? FED rate. Rumors are flying here and there about 3 scenarios:1. FED keep interest rate unchanged2. FED drops interest rate by 25 basis pts3. FED drops interest rate by 50 basis ptsScenario 1 would see a temporary global selldown because from what I think, we've already assumed FED to cut rate by 25 basis points. If they...
Friday, September 14, 2007
STI at 3536 at low volume - warning signs?
Must say I'm rather surprised by how STI performs nowadays. Rain or shine, Dow plus or negative, it's more likely to see STI performing well than not. Today STI went up 32 pts to close at 3536 (up 0.91%) with a volume of 1.9 billion (warning sign).Is foreign funds entering STI again after our massive selldown in Aug? Strong underlying strength in STI is all I can see. It's interesting that even though China raised interest rates by 27 basis pt,...
Thursday, September 13, 2007
STI down 1369 to close at 3504
STI dropped intraday to around 3490 before rebounding and testing 3500. Considering tested? I don't know. STI closed down 1.69 (0.05%) to close at 3504, which is still above 3500. I would consider that a good sign that intraday, even though support is broken, the closing price (the most important price) is still above 3500. Volume transacted is 2.36 billion, slightly lower than yesterdays.I wasn't able to monitor the market at all today, so judging from the market summary provided by sgx, seems like banks had a little selldown today. Seems alright...nothing...
Wednesday, September 12, 2007
STI broke above 3500 and closed above it
Yesterday Dow closed 180 pts up. The theme nowadays is whether FED will cut rate. Seriously, from what i see, the market had already assumed that the rate cut had taken place (not a bad assumption), so if the expected rate cut didn't occur, that might actually be the catalyst for a selldown for Dow.Not that it actually matters nowadays. Seems like asian bourses had diverged away from Dow. Two factors are pulling STI - China and US. HSI will follow...
Tuesday, September 11, 2007
STI up 1.53% to close at 3494
STI is surprisingly resilient against whatever US side is doing nowadays. Good sign or bad sign? I don't know. STI just keeps powering up and up. Even when China announced that its inflation reached sky high and that trade surplus is at all time high, STI droppped a little and went up further.In the end, Shanghai dropped 4.51%, HK was affected slightly by droppign 0.20%, while STI was up 52.70 pts (up 1.53%) to close at 3494 with a volume of 2.8 billion (higher than yst's 2.5 billion).Today we saw pennies having sort of a revival. Constrution...
Monday, September 10, 2007
STI recovered from 2.7% drop to 1.35% drop
STI diverged away from Dow! It's been like that for the past week and today it showed similar pattern. Dow tanked last fri, but today, STI opened -2.7% but closed just 1.35% (a drop of 47 pts) at 3441 with a volume of 2.4 billion.What's really amazing is the strength shown by Shanghai and HK. Together with India, these are about the only bourses that still closed green in spite of the poor showing by US. Most counters recovered by 930am after kan cheong spider selldown in the first minutes of the market. Good thing I didn't buy put warrants, haha!Expected...
Nick Leeson: The man who broke the bank
Haha, interestingly, today I was grappling with the decision whether or not to buy put warrants for either STI or HSI after Dow suffered a 250 points drop when the job data came out last Fri. Last night, I had already identified the support level and the warrants for trading and put them all in my watchlist. Wanted to get in the first thing in the morning and cash it out intraday.However, I did not do it eventually. Reasons are:1. Risky speculative trades - I know my own technical analysis skills...it's not fantastic. So why am I risking a few...
Friday, September 07, 2007
STI still up?
STI close up again, this time by 22.9 pts (0.66%) up to close at 3488 with a rather respectable volume of 3.15 billion. I wasn't able to watch the market at all throughout the day, but I saw that the rally is rather broadbased.Construction seems to have a brief rally. Quite a number of them hit rather high intraday before dropping to close slightly up or neutral. Hmm, seems like I'm wrong for Straits asia, the price just drops and drops. Will evaluate it maybe end of this week to see if there's anything I should do.Swiber had a field day today,...
Thursday, September 06, 2007
STI technical glitch part 2
Haha, funny things became funnier :PSTI had technical glitch again. According to an announcement made by SGX after market close at 630pm, they said that STI did not accurately reflect the value between 9am to 1030am today. Upon rectification, it was corrected at 1031am. They added that the cause of today's glitch is different from yesterday's. Yesterday's is due to isolated software issue following the corporate action of a component stock in STI. But todays' incident was caused by the omission of a step in the overnight system recovery procedure.Seriously,...
Wednesday, September 05, 2007
Inaccuracies in STI
Funny things happens.Today, STI wasn't tracked properly. According to an announcement made by SGX at around 6pm plus, they said that they had investigated and found that STI did not accurately reflect the value of its components in the morning. The index was 3,376 at 1230pm, when it should have been 3,437 (a huge difference of 1.27%!). This error was rectified at the start of the afternoon trading session. The reason? The error was traced back to...
Tuesday, September 04, 2007
STI still didn't break 3400 resistance
Today is the 2nd day that we see STI trying to break resistance at 3400 but failed. STI closed down 10.2 pts (0.30%) at 3376 with a volume of 1.8 billion (slighly higher than yst's 1.6 billion). Since STI tried to break resistance at 3400 but didn't succeed, it shows 2 things. First, 3400 is a significant and strong resistance, so should we ever break it, it's a bullish sign. Second, since we failed to move up, we can only move down. I should expect...
Monday, September 03, 2007
STI stayed neutral
What a lazy day at the market today...STI is nearly flat, it dropped 7 pts down (0.20% drop) to close at 3386, with a very low volume of 1.6 billion. Must be a lot of people selling off their holdings because of last Fri big rally. Tonight Dow is closed because of holiday, so no leaders to lead us tmr. Europe is currently green (slightly only), so let's see if tmr we follow Europe or we follow HK/China.Construction as strong as ever. With rumors of contract announcement flying around these few weeks, it's hard to short down on these stocks. Overall,...
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