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 pts to close at 0.335 (intraday high of 0.345) with a higher than average volume of 30 million. But still not happy that it didn't close at 0.340, which is decisively above the ema 50 days. Bollinger band is very accurate. While it does not predict when the breakout occurs, it does predict that the upside (or downside) will be large. Expecting more upside from CSC.

Yongnam also did pretty well by closing at 0.410, up 0.010 with intraday high of 0.425. Lianbeng XD today so it closed down a little, but overall, construction had a field day today! Charts look very good for a couple of construction stocks, so I do expect some big things to happen soon. This week? haha :)

Straits asia reached my target of 1.590 intraday, but wasn't around to see it. Might be seeing it reaching 1.65 resistance soon. Maybe time to take profit off this stock :P Let's see. I really like swiber slow and steady climb :P reminds me of jiutian and cosco when it made it spectacular run. Haha, glad to be in this, but I musn't fall in love with it. There's still a time to sell off but I doubt it's soon. Expecting more contract announcement from Swiber from now till end of the year.

Today is such a wonderful day when lots of stocks breakout. Charts are pretty everywhere. STI found support at 3600 when it refused to head lower. Rumors of this bullishness is that it's nearing october, so funds are window dressing to give the impression to new or existing investors that their portfolio is in the green. Well, good for us :P

Dow at 2.28 pts up now, Europe all red :) Some charts to share:


Straits asia