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 last fri, so not too sure why the sudden bullishness.

A big news to share. Jackson Tai, CEO of DBS bank resigned. I wonder what's up with him? Moving on or scapegoat to bear responsibility over the bank's mis-communication over the subprime exposure? Hmm, not sure too.

A lot of volume buying in for Genting today. Easily rose up the top 10 volume stocks today with its huge buy ups. Starcruise, Genting's sister company, also went up to top 10 volume stocks. Something must be up, and those in the know already reacted to it. I'm looking forward to more news to be officially announced. Contracts awarding to companies? No idea.

Straits and swiber did well today (to be fair, which stock didn't?). Straits broke free of 1.50 and went to intraday high of 1.56 before closing down at 1.490. Half a mind to sell off when it hits my target price of 1.59. Swiber still has a little more to gain to return to July level. I like the price action of swiber - slow and steady, no big rise nor big fall. This are the type of price increment that is sustainable and last longer that does one-shot-hit-the-sky type.

Looking forward to break even for my porfolio!

Dow is now at 27 pts, Europe a mix of red and green. Below are just my thoughts on these two stocks: yongnam and csc.