I had summarized the week (2011-Jan-10 to 2011-Jan-14) as followed:
STI counters
Most of the counteres are in overbought region. 2 intraday correction to wash out weak hands , which have happened past few sessions. This cause charts to be still "distorted" and inaccurate. The following picture is forwarded by my broker. Think she got it from Bloomberg anyway.
Big news
Government introduced property measures , which cause knee jerk reaction to the market.
However , STI's resistance become horizontal support of 3220 is holding well and it recovered from the early losses.
Personal Opinion
3220 should hold and will test 3280/3315. Buy on dip.
Hot picks
DBS --> 14.50 / 14.20
Reason: Dividend coming soon + LTV reduction impact not as serious as it is.
OCBC --> 10
Reason: Will test resistance very soon. Expect at least 3% return if it manage to break resistance.
Noble --> 2.23
Reason: Commodity play's favourite counter + flood at Brisbane might benefit it.
NOL:
Reason:Testing recent high soon. $2.50 on the way ?
Not so hot pick
SGX--> 8.35
Reason: consolidating. However merger risk with ASX is there. as everyone know , if it move it fly.
Property Related Counters
| Counter | Percentage Loss |
| Capitaland | 3.40% |
| CITYDEV | 4.60% |
| KepLand | 3.10% |
| UOL | 0.80% |
| Allgreen | 5.70% |
| BukitSem | 1.00% |
| Ho Bee | 4.30% |
| SC Global | 4.80% |
| Singhlding | 2.70% |
| Wing Tai | 4.80% |
| Average | 3.52% |
Picked out a few property in my watchlist and found that the average % they shed off today was 3.52%.
What i am trying to do here is try to identify those counter that the drop had been overdone and it might show minor rebound back in the following weeks. These counter are in red.
Outside Singapore
China’s central bank yesterday told lenders to hold more deposits as reserves for the fourth time in two months, lifting required ratios by half a percentage point. This is to curb the inflation. Guess whom will be impacted next week. I think YXNXLXOXD will be short down. Try figuring out what is the X. =)
Advise
Resource are limited to everyone but there are so many counter in watchlist. Pick carefully with before your place your money. Identify the profit taking and stop loss target. If not what you gain will vanish in thin air and become loss and vice versa wheras it become "long term investment" because you didnt cut loss early and let the loss keep rolling.
Please note that i am not a certified / qualified CFA Anal-yst nor investment gurus.. I am just writing out my thoughts. Good luck to all in trade. Huat ar !! CNY ang bao coming ar
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