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62781-62800 of 69565
STI now -58 HSI -140 (fm -250 b4 noon) DOW future +19 (dun trust too much). To me good time to vest now if you dare.
Mtk is down -62 points, but seeing a few more green counter liao.....hmm.
look at the lovely vol close to 1 bil at midday.... when the market is down >2%..
i dont see this vol being achieved when the market goes up... doesn't this tell u something abt the market..?
Thanks for your advise.
Yes, i think better to buy tomorrow, safer. But if i buy anything today, i will sell off before 5pm, win or lose.
cathylmg ( Date: 08-May-2008 12:41) Posted:
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Is it advisible to buy tomorrow instead?
DnApeh ( Date: 08-May-2008 12:36) Posted:
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I think will bounce back in the afternoon. If so, buy some and sell off before close.
cathylmg ( Date: 08-May-2008 12:26) Posted:
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Very near 3150 support already. What next?
At least it never over reacted with DJ down as previously did. Heng heng leow..
The fall is not too bad. Will recover in the afternoon.
golden agri, 1st resources only few green counters in a sea of red..!.. yeah! + top vol..
let's see how our STI will react today...Japan's Nikkei did not fall as much as the DOW this morning and when Dow in red, we green (although not very confident we will be green today)...when they green, we are in the red...
we shall take cue from HSI later
put warrants n oil related counter plays today
they were right when they say oil will break $100 mark.... not sure this time what they say will come true again....haiz....
LONDON (Reuters) - Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs (GS.N: Quote, Profile, Research) said in a research note.
"We believe the current energy crisis may be coming to a head, as a lack of adequate supply growth is becoming apparent," Goldman said in the note made available to Reuters on Tuesday.
Oil hit a new record near $121 a barrel on Tuesday, continuing an advance which has seen it double over the past 12 months.
"The possibility of $150-$200 per barrel seems increasingly likely over the next 6-24 months, though predicting the ultimate peak in oil prices as well as the remaining duration of the upcycle remains a major uncertainty," Goldman said.
Goldman, which was one of the first to point to a triple digit oil price more than two years ago, said it believed the market was approaching the crunch in the "super-spike".
The "super-spike" theory argues that a lack of adequate supply growth along with price-insulated demand growth in non-OECD countries will lead to a dramatic and continuous rise in oil prices that will ultimately lead to a sharp correction in oil demand.
Goldman analysts said the underlying drivers of the rise in oil prices remained firmly in place, noting poor growth in non-OPEC supplies, low OPEC spare capacity, restriction on foreign investment in key oil producing nations and healthy demand growth in non-OECD economies.
"In our view, a gradual rally in prices is likely to be longer lasting than a sharp, sudden spike," the note written by U.S.-based analyst Arjun Murti said.
Goldman said it had raised its spot oil price forecasts for U.S. WTI crude for 2008 through to 2011 to $108 rising to $110 and $120 a barrel, up from $96 rising to $105 and $110 respectively in its earlier forecast.
"We see risk to our 2008 and 2009 forecasts as distinctly to the upside," it said.
(Reporting by Santosh Menon)
High oil price will give STI a slip.....
Hi,
My TA is no way compared to you, Elf. I just draw the line from previous highest peak. I never attended the other courses on TA like MACD etc. But I find when I start to accumulate when price is at low volume or when stock is consolidating, and then leverage up the moment it crosses the line I draw across would be the best way for me.
You can see many times even when the stock crosses that resistance line I draw, it can still come down the next day. But by accumulating at low volume before the surge, you have a buffer and you have already made a few buys.
stupidfool ( Date: 08-May-2008 06:47) Posted:
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elfinchilde
what is the first buy they taught u in TA course?
elfinchilde ( Date: 07-May-2008 13:13) Posted:
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just did some maths. concur with CWQuah. the dow max was about 13,036 for this time around. may be finally topping out for now (given the rash of bad news, yet the rally). A summer pullback is generally expected, as fund managers go on leave.
STI-wise, yes, SGX is a good candidate for shorting. it's still quite a fair bit overbought. natural retracement.
note: mixed market likely tho: the second liners are likely to go up.
Beware of STI if it moves below 3216 tomorrow.
Also, if Dow closes below 12943 tonight, expect the mkt downtrend to continue. If it does break, intraday low for Dow is likely at 12887 or 12872. If Dow turns very bearish, we might see 12803 tonight.
Tomorrow we might see some relief rally for the HSI on intraday basis if it goes above 25666. Better still if it closes above this lvl. But don't expect to go long too heavily for more than one day. Any break below 25632 will likely lead to more selling.
In sum, try to sell on the intraday rallies tomorrow. Asian markets have already peaked 3 days back.
shortists cud play sgx again 2morrow n push down prices of other counters 4 accumulation...tt's the way the market is 4 the present cos during tis volatile time, bbs n shortists play the market...btw dow now down 40 pts..tis morning upt 51 pts but sgx shot down from 9.62 to 9.27.......wat a joke.