Monday, July 04, 2005

Satisfying showing by 4 Gems!

In a session where winners win the day marginally, I'm very happy that my 4 Gems performed! On any other day, I'm sure i will be on the loser side man! This time round I have sticked to my plan stringently.

  1. SMT : 0.695 cut loss - close at 0.710 today, it was a no buy today as the open interest was not strong. Now, the weekly macD chart seems to have hit peak. Stand aside is my decision until MacD ticks up
  2. hi-pi : 1.43 cut loss - close at 1.460 today, up a cent. But during intraday it touched 1.48. Hold now as force index crossed above zero line.
  3. unifiber : 0.375 cut loss - close at 0.390, maintain buy and cut loss price. Force index still under zero and Stochastics in oversold. Great potential.
  4. ST-eng : 2.41 cut loss - the star of the day, with a 3 cents profit performance! Weekly MacD and daily Force Index all read as positive. In addition, it released a new contract deal today after trading hours. Surely more upside tomorrow.

US bourses having holiday today. I came to realise, despite the oil price trading at US$60 region, our market has been ignoring it and keep edging higher. While I was all the way cautious last week, it was stupid of me. I should follow the market and the trend. Who am I to predict a massacre in SGX just because of high oil price? I remember sometime last year, oil price was deemed high at US$39 and I was also cautious abt trading. STI was less than 2000 then. I posted something like "Getting used to high oil price". It's somewhere in my old blog. Didn't STI still climb all the way to current level of 2200 region?

Now back to present, with so many analysts already expecting a higher oil price come year end, will this be factored in in the price we are seeing now? So would it means stocks will continue to climb like last year since it won't come as any shock? Any comments?