Thursday, September 29, 2005

Uncertain Market Condition

After the magnificient Monday, Tuesday and Wednesday brought much gloom to the face of traders. There was a glimmer of hope today but since tomorrow is a Friday. I am not very positive that the buying today will continue tomorrow. But selective plays on bluechips might be beneficial to your portfolio.

SPH, I paid the price for ignoring Dojis on the resistance. I am blinded by the fundamental approach where it is believed that 11th Oct, there will be positive news on SPH and can spur price up further. So I am sitting on paper loss for this right now.

Keppel Land - Harrah & Keppel Bring In SMG For Singapore Casino Bid. This news came after trading hours today. No wonder there is a pre close buy up to 3.70 today. Now I know why. This news is very positive for Keppel Land's IR bidding. Let's see how market respond.

Simsci, 2700 support is very strong. For the third time we saw simsci tanked below 2700 and recover very quickly. 2700 level thereabout will be a fantastic place to fish bottom.

Overall, I would remain cautious and not be overly aggressive tomorrow.

Ho Bee