PAP secured a 66% mandate and reports were saying it is a great showing. Heng arh, they didn't shot down the results because it can be seen that opposition has garnered more votes than 2001. Except for SDP, if they didn't bother to contest Sembawang, I think PAP will not have gotten 66% simply because the margin of defeat by SDP is too huge.
Dow rallied on Friday on hopes of interest rate hikes pause. PAP won 82 seats out of 84. These 2 elements should prove to be fuel to a rally tomorrow. On Friday we had seen market trading on the downside bias because most people fear the uncertainty of the elections results.
Legends always say, do not anticipate the market movement because opinions may not be right but market is always right. Learn to understand what had happened and what is happening now. For me, i am seeing property sector retracing, oil & gas showing some sparkle, banks had rallied. Marine repair seems to be enjoying good business with Cosco Corp & Labroy Marine turning in good results.
I did scan the market and found nothing interesting to risk our dollars in. So what I did was rearranged my watchlist into sectors! This way, i can track the leaders of each sector closely. No more wild punting! :D
Well, market may or may not rally tomorrow. But one thing is for sure, i still don't see a big bear descending and will not sell my holdings as yet. Hence I'm going to enjoy my holiday tomorrow! Shall not be online. I hope you guys tua tua tan and enjoy shouting at the shoutbox! But while doing so, don't forget to wriggle your index finger no matter which hand! :D Shall analyse the post elections market on Monday instead.
