Wednesday, July 20, 2005

Property Boom!

After being depressed for so long, govt has changed some policy to make it easier to buy a property with less cash. Although it will mean paying less cash for owning a flat or property, it also means longer and more expensive bank loans. I see it as the same for COE. When COE is cheap, 10 yrs loan was permitable, whole lot of Singaporean took it up, 10 yrs loan knowing they pay higher interest. So I guess property market will boom! Singaporeans plus foreigners will storm our market! So will it cause ripple effect to the rest of the counters? Perhaps, construction sector? Or even best, HGM who can supply metal to build property. hehehe

Just like terrorist attacks which can drag the stock market down. This kind of good news is also beyond T.A or F.A. But I wonder for the person who typed the statement for our minister to read out, did he or she secretly buy? :P

The market was pretty mixed although the STI rallys to new high again. Winners beat gainers only just. And the STI high is mainly contributed by property stocks. Profit taking was in place in other counters that had made some gains in recent sessions. I suspect the bulls are resting...bears were powerless amidst good news from corporate earnings and market. Many had forgotten about high oil price. I bet that for the next down move, analyst will attribute it to profit taking and high oil price. They look for excuses for the movement after it happened. But it's their job, to analyse why the market moved. hehe That's why they are called analyst and not prophets.

Decipher Gems took part in the rally yesterday and most of them continue their upwards move. I'm still stuck in Unifiber. It refused to move upwards. The weekly trend is still up, and yesterday's drop has caused the daily chart indicator to fall below zero line. It's a sign to up my stakes as it points to a move towards north. Let's see if it can happen. Cheong arh!!!!

Today's spotlight no doubt will be in property. Will there be more upside? Even Casino announcement didn't have so much impact than the news yesterday.