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

Monday, September 26, 2005

Bulls Tango Market!

Our STI index closed nearly 25 points in green! What an explosive day of trading. Bulls tried for the third time today the resume the uptrend after failed 2 attempts in the last 2 weeks. Buoyed by Rita's impotency and falling oil price, could this be a third time lucky and see us break 2325 Resistance? I certainly hope so! Tonight the US market will almost certainly rally and oil price will either maintain slightly below US$64 or even lower. I can't wait to see it goes below US$60, that will really move markets around the world. However I have to be realistic, it's nearing winter, oil price during this season will increase due to higher demand. We might have profit taking tomorrow. But the main thing to note will be whether there will be late buying before close. That is the traditional signs of a bullish market. Govt has delayed the RFP for casino to end of November. Watch your profits if you are invested in casino plays. Or maybe I should call them IR plays since this is the replacement word for casino in Singapore.

When I first started out in June'05, I traded rashly and was showing you more losses than wins. I even joked to rename this blog to how not to lose money blog instead of grow money blog. 3 month later now, finally growmoney blog has some really good picks over the last few weeks to benefit the 300 odd visitors. Singtel, Cosco, Starhub, TAC, Keppel Land, Capital Land, Comfortdelgro, SPH, Semb Marine, Bio Sensor, Ho Bee...the list will go on! (You can do a search for a stock's older chart analysis) All these are big movers and potential big movers. It showed me that being patience and have a longer term mindset will be rewarding. I gave up the fanciful cheaper sesdaq stocks to really focus on the charts of Bluechips day and night. 1 of the strategies i'm using is to keep a handful of stocks and look at them daily, follow them daily. Soon, you will be able to time it's movement more accurately. Although this is a boring way of trading, but the odds of winning is higher. You want fun or do you want to win more?

If you like fun, trade simsci! I was drawn to this trading derivatives as I noticed how closely it tracked the STI index. Trading in stocks requires a longer time frame than simsci. In Simsci, you can close your trade at the end of the day and earn decent profits. Hence I have taken a longer term investment strategy for my stocks and turn to simsci for fun. But be warned, this is extremely high risk. There was once I went for a coffee break which is only 10 mins, I ended up 10% poorer because I did not put a stop limit.

Today I managed to scalp simsci at 2728 and sold at 2733. On the back of my mind, I know underlying is bull sentiment, I am always looking at opportunities to get hold of a long contract. After cashing out, I got hold of another long contract at a lower level. This time round, I kept the contract overnight for I believe that with the US rally almost certain, I took a gamble that tomorrow, simsci will gap up. With the paper profits not mine originally, I am willing to risk it for a bet that this rally will last a few days.

Something is wrong with server again! I can't post charts.
Please find them here >>> Charts!

Sunday, September 25, 2005

Rita is a whisper

As loud as it promises to be, Rita had caused no major damages like it's sister Katrina. What a sigh of relief. Our market has been in trading range since August till now, nice time to resume the uptrend. Glimpses of recovery was spotted during the last 2 weeks when we had major rallies. However they were shortlived. If Rita and Oil price was the obstacle for the uptrend, now that Rita is a mere whisper, Oil price continued it's downslide, I can hear the bulls come charging!

I expect to reap rewards after staying vested for much of August and September. Once STI rallies, i'm sure my bluechips will rumble along. This week could see the return of the casino plays as the RFP will be announced! Keep a lookout.



COSCO CORP


SPH weekly chart

Thursday, September 22, 2005

Rita & Oil price haunts Market

Our market could not take the Regional bad sentiment towards Hurricane Rita and Oil price hike. The bullish Tuesday was not followed by strong buying. Instead we have 2 days of mixed trading. I think market over reacted on hurricane Rita and higher oil price. Let me borrow a quote from my trading Kaki, " When Hurricane Katrina stormed gulf coast and destroyed rigs and stopped supply, oil price spiked to US$70. But did you realise after the damage has been confirmed, oil price retraced all the way down to US$63. " I thought how true. Now the oil price starts to crawl up again amidst fear of Rita. Something very similar to Katrina. When I look at our market. Yes, there were selling pressure all around. But there were also strong buying! If it's really that bad, why are there strong buyers? Think about it. I remain positive that the major uptrend is still intact.

2281 should be the support for STI, break that, and be ready to use your parachute. On the weekly MacD histogram, it has not gone below zero line. Once the histogram slopes up, i will alert everyone here. It could signal the return of the bulls!

Special mention of comfortdelgro. Much forgotten stock, it is making a comeback! Check out the charts below. Semb Marine, a great pick from GrowMoney Blog, check it out! :D


Semb Marine Revisited


Keppel Land


Comfortdelgro on the daily chart



Comfort DelGro on the weekly chart

Wednesday, September 21, 2005

Bulls tripped again!

Alan Greenspan decided to play the cards straight and increased interest rate. Our market which tried to play contrarian, lost yesterday's gains. Now i'm back to scratching head and waiting for the true bullish rally. Hurricane Rita is holding markets back.

Here are a few charts as I ponder along.


TAC - shooting star alert


Singtel: Red alert or opportunity?


Semb Marine


Ho-Bee

Tuesday, September 20, 2005

Bulls try again!

After the failed attempt last Monday, the bulls tried to resume the uptrend again today. The volume of STI recorded over 200 million today versus 140 millon recorded on the first attempt on last Monday. The federal interest rate hike was in question today. Whole of last week, majority of the reports I seen was saying interest rate hike will go ahead despite the damage by Katrina. However, today, the expected interest rate hike is questioned. Rumours has it that there might not be a hike afterall. If the market was depressed by the interest rate hike, what do you think will happen if there is no hike!

Our market largely ignore the US$4 spike in crude oil. I thought the spike was uncalled for as it was the result of fear of hurricane Rita and not the true demand over supply issue.

I have been waiting for this day since I saw the signs were there in recent weeks. The signs are, low volume in STI component stocks, selling pressure well absorbed. Most of the bluechips flirting around resistance line. There are some breakouts today! A continuation of last Monday.
You can refer to the charts by scrolling below.

Biosensors, Semb Marine, SPH & TAC are some of my top picks that were spot on! I still have many in the list. Scroll down to see more.

SIMSCI: After opening lower and touched a low of 270.1, it rebounded strongly and tested the high of 274.7 before closing at 273.6 on a 3.6 million volume. This forms a hammer with volume. It signifies that the buyers overwhelmed the sellers and the latter could not keep the simci at the low. Very bullish candle formation. I had anticipated a closing of better than 2714 but this mad bull rush really caught me by surprise.....a very pleasant surprise. :)

Quickly go through the charts drawn earlier, It's grow money time! :D

Monday, September 19, 2005

Who wants a cup of tea?

Another pathetic outing for the bluechips. Volume transacted is very light. Marine sector was almost asleep if not for very minor trades done. Capital Land had a pre close done at 3.10 with a volume of 2,000 plus lots, this came from a after bell 3.04. How wierd!

At the simsci front, as expected, it declined further today and recorded another lower high and lower low. However the closing is pretty promising as it leaves a trail of lower shadow. With the lacklustre performance of STI index and this good closing, good time may come soon. I cannot pin point the exact date and I believe no one in the world can do that. I did not trade simsci today as I felt neither comfortable shorting it nor going long. I would not go short because I can see from the lack of volume and yet resilence of price actions suggesting the bullish rally can happen soon. I don't want to get caught. I wouldn't long neither because short term wise we are still drifting sideways or lower. I rather keep the money in my pocket and wait.

For those who like fishing bottom, 2714 is the support. I'm betting simsci to close better than 2714 tomorrow.


Biosensor ought to be the highlight of today's actions. Again on news of patent win, it gained 10 cents to close at 1.25. The chart forms a very nice cup and handle breakout. A very classic breakout. Odds will be higher of the continue of the uptrend.

Sunday, September 18, 2005

STI False Start, Simsci Tanked

The week ended with STI giving back all it's gains on Monday and went below it's support of 2308. Sesdaq is still hot while STI caught me off guard with a false start. I'm stepping aside for the moment to analyse the sentiment on the sidelines first. Something is going to happen, after a bullish Monday, we closed negative by Friday. Fishy.

SIMSCI updates: After I got off a blistering start to simsci trading, same old mistakes were commited. I was blinded by greed and fighting against the trend. My system was horrible, i over traded. The bullish Monday got inside my head and all i see was bullishness. What I lost in discipline and system, I had made up with cool money management. I closed out my positions after I hit my limit and decide to watch first. Inorder to survive in the market, trading system, discipline and money management are very important. Please do not find out the hard way.

Resistance at 272.2
Support at 267.7

Previous:
Open 275.3
High 275.3
Low 273.1
Close 273.5

Previous tested support at 273.9 was broken and triggered many stops (including mine) The price opened higher and broke support. Not a very good omen.


SPH on the weekly chart


Semb Marine


Ho Bee


Capital Land

Thursday, September 15, 2005

Sesdaq steals the show

The top volume list was dominated by sesdaq listed stocks. The bull strength seems to have gone from Bluechips to the penny stocks. Let us do a quick recap, Monday, STI gapped up and close at 2325 level. It then began a puzzling profit taking on Tuesday followed by liveless trades on Wednesday and Thursday on smaller volume. Why had the interest suddenly died? In simsci, where there is lack of buying to push up to higher ground, but there was also strong support not to let simsci decline beyond support. Both charts look like a bottom is forming for a breakout. It's still early days. But I must mention that the lack of volume on decline is always a plus point for bullish market. I'm beting on the index to clear 2325 which was Monday's high. I see most STI component stocks testing resistance. So many of them! You can refer to my charts. They tested on Monday and had not decline deep enough for a bearish reversal. There seems to be buying support. No charts today as they hardly moved. The charts posted earlier are still valid. : ) I am anticipating a bullish rally. They offer very good entry points now. If you are wrong, just cut. If you are right, you will surely enjoy the massive ride up north. Bargain hunters should return to bluechips.

Wednesday, September 14, 2005

A reluctant Bull

The sell down on Tuesday caught me by surprise. It came unexpectedly after a very good Monday. The good thing was, most of the counters I charted remained on their resistance turn support. However I do notice that most of the breakout has fizzled out. While I do not want to do a mirage in the middle of a desert, I do see shadows of the bears still lurking around.

With a volume of 1 billion worth of shares traded today, SESDAQ our penny stocks makes it's impact felt. Bluechips were caught idling and not moving alot except for an outstanding few. The rest were simply caught napping. Marine sector and Property sector were pretty mixed. With glimpses of a breakout, they strolled back to where they started towards the end. The real stars today ought to be the tech stocks. They are sitting nicely on support. Check out my charts on Tuesday if you wish to know how I feel abt them.

I have been trading simsci alot lately. It is such an exciting and rewarding instrument if you know how to make use of it properly. Infact I thought it was easier to trade on simsci than stocks. Stocks generally take a longer time to really move say 10 bids? But within the same day, simsci can move up or down in the same range! Lots of T.A is needed for simsci. After trading for 4 days, i have won and lost. Currently sitting on a peanut (not Durai brand) profit. I had lost control only once when I got to complacent to put a stop limit before I went for a coffee break. It was my most expensive coffee break in my life time! haha If I have slotted in the stop loss, I would be sitting on a decent profit. Cut loss fast when u r wrong and you will see profit gowing at a faster pace than stocks.




TAC


Starhub


SPH


DataCraft

Can decipher win the warrants game? I have been sitting on profits all through the competition so far! haha Maybe I should trade warrants from now on. : )

Tuesday, September 13, 2005

Charts Galore!

If you are getting irritated of coming to this blog and found no charts, today I have 8 charts! After drawing blanks in a directionless market, a rush of bullish buyers confirmed the underlying bullish sentiment today.

Enjoy the charts! : )


UTAC


TAC


Starhub


SPH


Keppel Land


Ho Bee


Cosco


City Dev

Sunday, September 11, 2005

Holidays over, Back to the market!

Last session on Friday brought lots of bargain hunters into the market. The volume was better than any of the previous 4 days. US market remain optimistic on economy growth and finished higher. Intel and Texas Instrument gave estimates upgrades and that prompted the tech sector to finish the week strongly. Property sector continue to drift sideways. As the date for RFP draws near, I anticipate Cap Land & Keppel Land to make a move. Recent month has seen them firmly trading around support after pull back and retracement due to their magnificient run up.

I have completed the book "Reminiscences of a stock opertator". The last 5 chapters were really enlightening to me. It talked about how to manipulate a stock. Yes! This is very very useful information. I hope by understanding that 5 chapters, it can help me in sniffing what is going on in the stock market. I'm not saying all the stocks are manipulated. But some are obvious. I urge you to read that, everything that happened over the past year will come to make sense for some of the headliners. Informatics, CAO...etc.... what happened 60 years ago is still happening today. If there is one thing you should know about in stock market, manipulation should be priority in it's own rights. Read and protect yourself!

SIMSCI Strategic Update: After my first virgin trade had won me some money, I ventured out again and long simsci on Friday. This time round, I was anticipating a breakout of 274.8 and hence bought at 273.6. But soon after, the simsci drift lower and was at 273.4 before long. I knew i had bought at a high almost immediately and saw no follow through buying. I was wrong in buying in anticipation of the breakout. I cut almost immediately because I was wrong. If I were to be correct, simsci would have move up and not down. Also, I bought at the day's high at that point in time. Greed on my part. So before I had to lose all the previous day's profit back to the market. I sold and stayed out! If buying at the high was wrong, I think I did correct in protecting my previous day's profit.

SIMSCI's chart position: Support 271.0, Resistance 274.8
Previous closing:
High:2742
Low:2708



Thursday, September 08, 2005

Directionless Market & the REVOLUTION

Yet another quiet day at the market. It's the school holidays. Maybe most of the people had went on a vacation thus the lacklustre volume in trading. I do see massive declines on some counters. However I will worry more if the decline has strong volume pushing it down.

Starhub and Singtel both gained. Keeping our STI in positive territory by 1 point. While the rest are restless. I advise not to trade stocks during this quiet times. Watch out for the volume. If decline starts to go down with volume, bad times ahead. Otherwise, just let it drift sideways. Starhub wise, I expect retracement. The volume of the breakout is not convincing. 2.05 would be a good initial buy and add on if price break 2.07 with big lots buy up. Cut if price close lower than 2.00 .

SIMSCI Strategy update: The line of least resistance seems to be trending down. I maintain the support and resistance level of 267.7 & 274.8 respectively. Made my virgin trade in SIMSCI today. : ) Bought at 2705 and sold at 2713. Today's actions was very similar to yesterday where intra day will hit a low only to leave a trail of lower shadow. From 2717 which is previous closing to 2705, I have some room to play with. Hence decided to long 2705, the high of the day at that time was 2714, i queued to sell at 2713. One reason I didn't hold my contract overnight is because of the directionless market. This is not a sure win strategy. It works today and doesn't it will work tomorrow. Experience in feeling the price and volume movement helps. Special Thanks to a guy call Pang. This fella really share alot with me. Thank You Ah Pang if you are reading this. : )

Since this is the last article of this week, I shall talk about my observations and site.

One reader had asked me a very important question. If I don't trade, how to grow money? Have a column to display by transaction. Let me address the first point. If you have followed by blog long enough, you should have seen how I was bleeding from over trade. I trade far too much and radomly picking stocks that I anticipate it's share price will appreciate. This style is suicidal. My last straw came when I dump HGM. You can read about it in August or July Archives. After selling my losing stake in HGM, I step aside from trading and read 3 books. I came back 1 month later and am now sitting on paper profits. Lessons I learnt are blogged everynight. I learnt that money in the stock market is not easy to scalp. Growing money slowly works better for me. Buying small quantity and then add on when the trade is moving my way works very well for me. I also focus on market leaders. Maybe it's coincidence, but i notice when my watchlist is quiet, STI is also quiet. There are 3 things you can do in a stock market, buy, sell or hold. There are also times when you should buy, sell or hold. I learnt to sniff and decipher the general market mood every night before I decide to trade. The most important of all, I don't lose money unneccesary anymore. Which to me, psychologically is important.

I will not publish my transaction because I am still learning. The intention of this blog is to share my "homework" which I do every night. Homework will include market sentiment, my analysis and hopefully it can help you along the way. Most importantly is sharing my mistakes. By avoiding my mistakes, you are avoiding a trap. Think of the stock market as a life long journey with many booby traps along the way. By knowing what I done wrong, your journey will be 1 trap less. And for those who believe in Karma, I have set out to donate 15% of my earnings from the advertisements that you click and read. If you are able to visit my advertisements once or twice everyday, you are doing charity at no cost to you. Very good for your luck in trading.

Growmoney blog is free and will always stay free. Your kind visits to my advertisements helps defray the costs and set up a R&D enviroment. You must be surprised! What R&D is this guy talking about? I am never satisfied just to blog and have an idea corner. As a small time trader, the operating cost of charting tool and data is expensive. It kinda put me off when I first start to trade. Listen up, Decipher is working to provide all this and more FREE for everyone. I intend to have LIVE free charts and live data feed, news feed...etc.. It will come one at a time. This should keep everyone happy. : ) It's not easy and can take a long time to develop because I'm doing a one man show. So the revenue from the advertisers help in a way as I will be able to contract out the programming part. Lastly, I hope to have your support for this ambition of mine. Truly a REVOLUTION! Tell your friends and have them tell their friends. Let's make this happen!

Wednesday, September 07, 2005

Very Muted Market

Dow Jones and Nasdaq up by 1% each overnight. Oil price continued to slide. Most thought today, the market will fourish. Yes, we started brilliantly but it was shortlived. The volume became weak. Not many buyers storm into the market. Neither were there serious seller. I too can't comprehend why is there a general weak volume despite positive factors. Did the general market know something I did not know? Let's see what will happen tomorrow. Nothing interesting to plot in a quiet market.

Property counters continued to hold their price on support. A continuation from Monday. Marine stocks, after the big drop on Monday, it did not follow through. This could be the final shakeout before another swing to new high.

Even for our SIMSCI index, it's like watching cat walk with the price travelling up and down the chart like walkway. I see higher lower shadow and lower upper shadow. Looks like it's going into a squeeze. The breakout is either upside or downside.....not worth my money to punt at this stage.

SIMSCI Strategic update: Waiting patiently at support 267.7 , Resistance at 274.8


Tuesday, September 06, 2005

Property counters stayed strong, Decipher trades SIMSCI!

While the market sashays up and down the chart, Property counters totally ignored the trend. We saw heavy selling after lunch but by closing, lower shawdows were formed and some even closed in positive. The trading volume is light today. My guess is there was no news to spike movement in either direction. Oil price continues to slide. All we need will be a good day tonight at the US market to give us some directions for tomorrow's actions.

The reason for Ho Bee's magnificient run:
Ho Bee Buys Amber Rd Site
A classic example of T.A picks up buying interest before the news.

Tech plays were back today. CSM finished the strongest. I like the chart of CSM but I won't paint the chart until I see a buy signal. Currently it's just looking nice and no buy signal for me. The only part worth mentioning is the gap up and volume increase of more than 50% than previous.

Semb Marine was shot down as feared. I always respect Shooting Star of all the candle signals.

SIMSCI update: Waiting patiently at support 267.7 , Resistance at 274.8


Cosco Corp


Capital Land

Resistance stayed Resilent

Resistance touched and bounced as feared. Market did not know which direction to head and alas gravity pulls it down to close in negative territory. Market opened with so much optimism, especially in Marine sector. But by noon, upper shadows beginning to show. Much of my "leading stocks" end up at resistance or below, unable to break resistance is not a good news. Unless all the resistance are broken with volume, otherwise staying cautious can save u some money. Don't lose unneccessary. However I must mention, again when STI drop, the volume and value is smaller than when it rallies.

Another thought gone through my head as I stared blankly into the night....what are technical indicators. How useful are they? I noticed, ever since i started to abandon them, i beginning to trade better. This coincide with my style being forced to make lesser trade as my current trading system do not give alot of buy signals. You trade lesser, you get wrong lesser. Trading is a losing game by mathematics because every trade we make, we pay brokerage. I read through some indicators again from one of the trading books lying on my table. The magic words were printed on every indicator. "Greatest Trading Signal is when you see DIVERGENCE" It simply means that only take an indicator's buy signal when you see divergence and it is hard to come by! I have been abusing indicators as in when indicators are confirming the price trend, i took it as a buy signal. Although there are wins and losses. But the many signals caused me to trade too often. A trading system that trades often is not a good system as it subject you to more risks. Stock market is not a place where you can pick up easy money. Hence it is important that you only buy when every condition points to a buy.

So here i am, using basic tape reading and chart formations. It's back to basics for me. But I will still use technical indicators when I see divergence!


Semb Marine: A shooting star at resistance formed today. The buyers were unable to close at the high today. Not only that, the volume is heavy too. Shooting star must be respected. With a heavy volume and yet unable to close at high, trade with caution.


Keppel Land: The hanging man formed last session was confirmed with a black candle as boxed in red. Possible retracement at 3.32. The resistance at 3.62 stood. If resistance is broke with volume, it should be day light time.


Ho Bee: After the breakout at 0.55, the up move continued. It gained 0.045 cents with an increase in volume. If you had bought at breakout, you should be smiling now. Hay Bee turn Lobster liao. Congratulations to those who bought after my article on Ho Bee on 31st Aug. : )
This time is really growing money! However do watch out for reaction. This stock has move so high so fast...reaction will come.



Cosco Corp: 2.60 resistance tested and not broken with a close. Immediate support can be found at the range of 2.48 to 2.44. The volume is pretty lower than previous candle. It showed weakness in breaking the resistance.

Sunday, September 04, 2005

Nearing Resistance..break or bounce?

In his book, Livermore had mentioned his method of speculation using the line of least resistance. By the way, I'm currently reading Reminiscences Of A Stock Broker. The stuffs he wrote inside makes lots of sense. But somehow, I question it's applicability to Singapore Market. After reading so many trading books, psychology of the mass is often mentioned. Good ones will tell us to first study the general market sentiment before zooming into individual stocks. Even when we analyse individual stock, we must "feel" what the price movement and it's volume suggest. If you are able to pin point fear or greed from the chart, you are likely to get ahead. Ok, back to the books. All the books were about wall street....Americans. Here in our local bourse, we have Singaporeans. Does Singaporeans behave differently from Americans in stock market? Will our "kiasuism" be a differentiating factor? Does it makes us one step more fearful or greedy than the Americans? This warrant a thesis on the topic! Maybe a nobel prize? keke

Most of my watchlist which consist mainly of marine and property stocks move closer to the resistance line. Cap Land, hovering at 2.96 which is resistance turns support. Keppel Land had successfully breakout of resistance 3.42. Cosco. after a series of buy calls from research firms, stormed into the lead and could threaten the resistance at 2.60. Semb Marine which has been moving silently nears it's resistance at 3.04. If all the above breaks the resistance, i'm sure we will be in another bullish run. Otherwise, one of my watchout will be a retracement back into trading range once they are unable to break resistance.

Oil price has slipped nearly $2 over the weekend after profit taking and the report that only 10% of the facility in the gulf coast was damaged. Those trader who speculated base on heavier damage took their money and stayed aside. The oil price was the reason for the recent decline and lacklustre performance of STI. Now that it had gone below US$70, there is a chance of a great week ahead for us.

Thursday, September 01, 2005

Marine and Property stormed back!

Everyone happy? hehe :D I had mentioned time and again how the selling is light in volume over the past weeks. I wasn't convinced that we will head into sell down and I have no fear. What I saw and thought was consolidation and normal reaction after recent big gains. STI move up today on heavier volume as compared to when STI went down. That I thought was evidence that I shouldn't turn bearish. Waiting patiently by the side and ignoring attractive penny stocks, Marine and Property finally came back to play. I always thought when these index stocks move, they move in giant steps. When property counters moved yesterday, I alerted that Marine will be next and who would have thought they heard me and moved up in tantem. haha Oh by the way, did you realise over the last few days, many bullish reports were out? Consolidated enough isit? *wink*

Amid this bull rally, please watch out for traps. If prices cannot close above their highs, if it rebounds off the resistance line, take care. Volume is key here.

No charts tonight as SGX's data is still not out yet. Hence no data feed for my charting tool. : (
But counters to watch will be Keppel Land & Semb Marine. For those going after Cosco Corp & Capital Land, the march towards the north is not as easy. Cosco was sold down in a much heavier volume and down the most while Capital Land was placed out by Temasek. These two might take a longer time to recover. But Recover they will!