Very weak Banking Sector

STI rebounded again and successfully tested a higher low at 2353 there abouts. This keeps the uptrend intact. Good news! If this is true, then we will expect STI to challenge the high at 2440 thereabouts. If it ever retrace to 2325, i will be very very worried. On the weekly chart of STI, i am seeing a very steep near term support line. The only disappointment i have is banking sector. It is grossly oversold although many expect the economy to be great this year. With Elections coming and the results due out after CNY. They should move soon. The first set of results from SPC, Kepland & Utac has been outstanding! Even Suntec Reits are giving better dividends than expected. How to be bear like that?

With crude oil retracing, if you believe oil and gas will be the theme to play this year, here's your chance to load up!




DMX - Taking a breather?


AusGrp - Oil, Gas sector play


SembKim - Progressive charting; breakout in volume today much to my delight. It should cotinue tomorrow after 3 sessions of consolidating.


DBS - Progressive charting; Still betting on a rebound.


DataCraft - Progressive Charting; Still betting on a rebound. How can it not move to US$1.20?? Shares buy back, double digit growth...what else can i say?


GlobalTest - Look for a breakout at 0.350.

Growmoney quickpick
I added parameter to look out for during tomorrow's session. I hope you will find it useful. : )

Global Test - break 0.35 or vol at least 23 million
Memory D - break 0.365 or vol at least 25 million
ChinaSky Petrol - vol at least 36 million
AusGroup - break 0.280 or vol at least 3.3 million
DMX - vol at least 11 million
Trek - break 0.635 or vol at least 4.8 million
KS Energy - vol at least 2.3 million

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.

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