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STI to cross 3000 boosted by long-term investors
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ozone2002
Supreme |
27-Mar-2009 11:30
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I share the same sentiment..the rally has no substance..SELL ON RALLY!!DYODD.. SG:Technicals- 4 consecutive up gaps in 3 weeks on the FSSTI The FSSTI has formed 4 consecutive up gaps over a space of 3 weeks. There is no historical precedence for this since 2007. Today, the index has gapped up and it appears to be an exhaustion gap. The gap at 1761-1765 is in the process of being covered. The next gap is at 1664, which preceded a sharp rally. We would label this as a runaway gap. Prices typically move to cover runaway and exhaustion gaps. In fact, since the beginning of the year, all gaps on the FSSTI have been covered. We see no reason as to why it will be any different, this time. We also note that RSI at current levels is higher than that during the previous peak at 1960. Another reason to be cautious stems from the fact that the FSSTI has retraced 62%(a key fibonacci retracement ratio, )of the decline from 1960- 1454. The volatility on the rebound is significantly higher than during the decline. suggesting that the rebound is not sustainable. We peg first support at 1664, the first gap level, and the next at 1616, a 50% retracement level. |
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AK_Francis
Supreme |
27-Mar-2009 10:39
Yells: "Happy go lucky, cheers." |
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Standard phenomenon, just like weather forecast, at times quite choon ones. Nice weekends coming, AK presumes for most of d retaillers. PM, AK leave desk for charity work, plumbing n electrical services. |
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HLJHLJ
Veteran |
27-Mar-2009 10:39
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Looks like no more energy leow.... Stochastic indicator indicates overbought.. But i think the rally will move on for a few more days or weeks. Also today's papers say could be due to window dressing (end of march). So if the dressing stops, we don't know... However, if it is due to Obama effect, then the rally will last for a while. |
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ozone2002
Supreme |
27-Mar-2009 10:19
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tyre punchek? or still riding the highway? | ||||
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lookcc
Master |
26-Mar-2009 21:31
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and he/she/they wud continue with doomsday messages on n off.
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knightbridge
Veteran |
26-Mar-2009 18:03
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Sweet man... Brought at this year to support STI, almost begin to be convince by some stupid analyst report on doomsday... Suddenly STI up by about 250pts/.. Time for some profit taking..In case media start to print very negative news.. Close some postion over the weekend, lock in some profit and have a nice meal with family... But some short term speculative counters might keep running, invest with care momentum is alittle too fast for me i think... If it is for long term it is ok as even correction of 10%-15% it is still cheap.................. |
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aleoleo
Master |
26-Mar-2009 16:00
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The mad bull come out liao ..... wat a amazing run .... cheers | ||||
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Blastoff
Elite |
26-Mar-2009 15:47
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The rallies continues..... | ||||
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des_khor
Supreme |
26-Mar-2009 10:50
Yells: "Tell me who is the God or MFT from this forum??" |
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I guess forum also bottom out liao as most forumers no eye to see thier portfolio.... so quiet... good sign ! | ||||
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aleoleo
Master |
26-Mar-2009 08:30
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Today’s Focus • DBS Research now sees more evidence of freight rates weakening, with: 1) A more inverted freight futures curve, 2) Unwanted accumulation of iron ore inventory in China, and 3)Weakening of steel prices. Maintain CAUTIOUS on Dry Bulk Shipping, with Fully Valued call on both STX Pan Ocean (TP:S$6.00) and Mercator Lines (TP: S$0.12) Singapore economy is bottoming out, according to NTU economist Choy Keen Meng. His forecasts see the Singapore economy posting a record 8.7% contraction in the current first quarter, followed by smaller declines in Q2 and Q3, for a yearround negative 4% pace, at the lower end of the official estimate of 2-5% contraction. Several US and European leading indicators signal possibly an inflection point. One of them is the rebound in US purchasing managers' index in January and February. Back home, non-oil retained imports of intermediate goods - a strong measure of near-term future output - turned positive in February. Finance Minister Tharman Shanmugaratnam also said that the economy could reach a bottom within the next six months. Growth thereafter is likely to remain weak till at least the end of the year, and possibly 2010 if there are no clear sign of recovery in the global economy. 1600 level for STI should hold in a ‘worst-case’ pullback. Markets should pause for a breather following the gains in the past 3 weeks. Immediate support is at 1665 and 1630 (near 15-Day MA). 1600 level should hold in a ‘worst-case’ pullback. Nochange in our technical view that the index has bottomed outat 1457. |
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des_khor
Supreme |
26-Mar-2009 00:52
Yells: "Tell me who is the God or MFT from this forum??" |
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well said.... for long for few years to gain few hundred % !!
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mkrji2002y
Member |
25-Mar-2009 23:17
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I am inclined to to agree with you. According to survey by US stock market newsletters, the stock indices would have bottomed 6 to 12 months before the real economy has bottomed out.Many other forward indicators have shown signs of stability.I think it is time to take a long position.
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knightbridge
Veteran |
25-Mar-2009 20:18
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Finally the US government is slowing realising by creating other bubble will solve the immediate financial crisis.. Made the stockmarket rise by 50% will see alot capital suddenly created that in turn will solve some of the investment impairment problem in companies and unlock the credit freeze... US bamk should be able to breathe alittle easiler as the stockmarket price rise will make it easiler for them to close their book and report profit figure in the next qtr.... Bear rally or not will depend on any sudden shocks from Mammoth US companies going to annouce Chapter 11 if not rally can still party on.... Stocks are still at distress price level |
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jng1103
Senior |
25-Mar-2009 12:30
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today is the 5th day of rally... most likely will last for 8-9 trading days... huat huat huat
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AK_Francis
Supreme |
25-Mar-2009 12:12
Yells: "Happy go lucky, cheers." |
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If HSI also remains stead, stay below -100, STI will likely stay below -10. Ha ha, most bks, ie StandChart, HS n HSBC, but only d penny bk, BOC still in green. Spore bk power, hend didn't short them ds morning. |
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des_khor
Supreme |
25-Mar-2009 12:01
Yells: "Tell me who is the God or MFT from this forum??" |
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x 0
x 0 Alert Admin |
STI very firm leh.... after 2pm don't know how ? | ||||
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cheongwee
Elite |
25-Mar-2009 11:19
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no worry...rally usually last a few week..from experience..the US start on 19 March...the day i posted the rally confirm began....in fact 2 to 3 days before 19th..dow already brewing... just make sure u have your revenge...but SGX is only blues rally...mid cap and the rest will follow soon.. If it last a 2 to 3 day that is no sucker rally... |
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aleoleo
Master |
25-Mar-2009 08:58
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first round of correction take place today ...... hopefully can sustain stable .... | ||||
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richtan
Supreme |
24-Mar-2009 21:36
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Marc Faber says US stocks rally may have more legs:
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trader88.sg
Veteran |
24-Mar-2009 20:55
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STI up 100 points in 2 days | ||||
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