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The stock market is not a rocket (how can it rise straight up?)...
Its movement is to and fro, up and down... more like sea wave...
From DMG:
Straits Times Index: Accumulate on any signs of weakness
(There is a chart in pdf which I dun know how to copy & paste, any sifu can advise, thanks a lot)
Our contrarian call that most market indices would encounter a pullback
Given these developments, we now believe that the index is still riding on a Wave 1 which is expected to translate into further upside.
Retracements to be regarded as healthy pullbacks.
Initial but weak resistance at the 1,959 level
Any pullback from 1947 for STI towards the 15-day EMA
near 1830 represents another buying opportunity.
We maintain our view for STI 2140 and a buy-on-pullback
strategy. While the STI eased off 1947, which is near January’s
high of 1960, the rise that started from 1457 remains intact.
Any pullback towards the 15-day EMA near 1830 represents
another buying opportunity. Index laggards and small caps
should garner interest during the anticipated upswing to 2140.
We also expect index leaders that have consolidated well to
‘show the way’ towards 2140.
Next week avoid Big cap STI Index stock . sell Big buy small.
Next week test 1850 -1800 >50 %
or test 2000> 50%
If the company report No good
Very divided opinions........but what about the record volume ? Who is playing ? And also a very broad base rally.....
Anyway, if no answer, just be very careful.......
samson ( Date: 16-Apr-2009 23:11) Posted:
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Today phillip security research
Phillip Securiti
STI Displaying Strong Momentum
Thursday, 16 April 2009
The equity market is rallying strongly on its own steam. When the US Dollar weakens,
causing commodities to strengthen, the strong commodity market should push
equities even higher. STI is displaying strong momentum but will soon approach the
intermediate term high on the weekly charts at 1950 to 1960. The STI will almost
certainly see a reaction at this region and we caution investors regarding this.
Technical Analysis –
Part 3 of the bear rally move has been fulfilled.... sheer exuberance with penny stocks breakout all over the last 2 days. Initial exhaustion gap move with opening at 1930++, but gap was covered with the massive sell off by midday. Today's market move is just downright bearish.
Hope longists took profit. Shortists might want to wait and see how mkt moves first. Either more consolidation before dropping, or a short sharp intraday dive likely to occur. Multiple tech indicators screaming overbought so far.
1868 seems like an interim support, but as to how strong it will be, perhaps more testing required.
True enough........but very unfortunately, pple who turn a deaf ear to it are the winner now.
When wife called me to say she bought LCDev AFTER it has already rose 2cts (20%). I am simply speechless. What stock is that ?? But she is still able to get 3cts out of it.(in the pocket already)
Anyway still have a few peeny stock on hand.....let see how thing goes.....
With such a volume on SGX, I am thinking if the angmo are back or izzit the Chinese, HK or whatever.
I got my buy signal from NOL.....ya....up up up and up.....they got screw big time because no bank is issuing LC. Is the credit market engine starting again....????
richtan ( Date: 15-Apr-2009 22:20) Posted:
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Hopefully it is not an ugly dream:
(1) Business Times dated 14/4, Chart Point by KElive:
Heading: Current uptrend may not last
Quote:
"The STI continues to exhibit bearish divergence, a tell-tale sign
tat the curren uptrend may not prevail beyond the short term"
(2) Straits Times dated 15/4, Bulls & Bears:
Quote:
"But some market observers warn tat the recent rally might be a trap set
by bears to lure the remaining bulls to their doom"
jonahach ( Date: 15-Apr-2009 20:38) Posted:
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Dun get too euphoric & throw caution to the wind & get caught off-guard, be the last one holding hot potatoes later.
Remember the term "irrational exuberance", now rearing its ugly head again.
jonahach ( Date: 15-Apr-2009 20:38) Posted:
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Simply Madness........YES.......MORE PLS......haven't been like that since 2007. Halfway mark already made 2X March profit.
My wife buy stock like buying vegtable.....bought LCDev and sold today.
What happen ?? Why so good ?? 3.5B share done today......almost twice of yesterday !!!
HLJHLJ ( Date: 15-Apr-2009 21:02) Posted:
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One broking house said may test 2100 soon. Quite optimistic but can be a reality barring unforseen circumstances, esp many finding themselves missed this rally might go in a bit. My personal target is 2000 before some small correction.
jonahach ( Date: 15-Apr-2009 20:38) Posted:
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