As the regional bourses rises, our market followed in tandem. The feel good feeling after PM Lee's Remake Singapore pushes market higher. There was no good news nor is the oil going lower. Looking at the top volume, bluechips are missing. In comes the small caps. I asked myself, is this how a bull rally run? With bluechips on average volume while the small caps companies leads the market in volume? A real bull run is made up from both groups of companies. Until the bluechips threaten to break new highs or resistance areas, the risk reward for me isn't great. Think about it, have you realised how quickly penny stocks retraced as soon as the fake bull is killed? Or how a two day rally ends in a bull trap where market retraced and greedy people are stuck in higher price. Until STI test and break the resistance, i maintain range bound for our market. If you are savvy enough, trading range is very lucrative too!
Keppel Land closed at 3.42 from 3.46. Reading from the tape, I discovered very unusual activities of odd lot buying and selling. However there are more buy ups in bigger lots. Someone is keeping the share price down while he accumulate more? Then it closed today with a married deal at 3.42 when the current buy price at 3.46. Something is brewing, but I am not able to decipher. Let's watch on.
No meaningful charts tonight. Although K1 Ventur and Bio-Treat are stars today, I wouldn't trade them yet. K1 Ventur, fundamentally, this stock has no financial instituitional support. Which means to say, given it's cheap share price, high chances of manipulative hands at play.
Bio-Treat, although there is financial instituitional support, there are too many over hang shares. The counter had dropped from a high of 1.28 to as low as 0.58. It will need a more than 100% effort for it to test the new high again. 1.00 and 1.28 are where many long suffering investors might be waiting to bail out. Once cross 1.28....no more overhang shares.
