Morning Highlights

Singapore Stock Market continue tracking to the upside by gapping up and opened at 2699.12 when it kicks off trade this morning. In fact, Asian share markets moved higher today, lifted by solid gains on Wall Street, with resource and energy stocks getting a boost from strength in metals and crude oil prices. Most of the major indexes are reaching their best levels since last fall’s financial panic.

Please note that our pending order for Peoples Food has triggered. However, since the breakout is done with light volume, we exited the market immediately at 0.835 in prevention of a false breakout. We will wait for new setups to form and there is a resistance seen at 0.855.

Conservative Traders should have taken profit for Marco Polo yesterday. Aggressive traders can choose to continue to ride the trend, like we did. We will wait for a pause to decide on the exit price. Currently our trailing stop loss has moved to 0.475.

News Updates:

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume.  <The Quick Picks referred herein contain overnight positions from Yesterday>

Bullish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 STTS Stats ChipPAC 0.97 0.915 1.03
2 BENK Beng Kuan Marine 0.365 0.31 0.42
3 CACT CapitaCommercial Trust 1.04 0.965 1.12 Not Entered!
4 HKLD Hong Kong Land 4.27 4.05 4.49
5 PPFH Peoples Food Holdings Ltd 0.83 0.745 0.915 Profit – CLOSED at 0.835
6 AEMN Ascott REIT 0.985 0.92 1.05 CANCELLED
7 CHEL Chemoil Energy Ltd 0.58 0.5 0.515 0.66 LOSS – CLOSED at 0.55
8 HBEE Ho Bee Investment 1.6 1.34 1.86
9 OCGL Oceanus Group Ltd 0.395 0.355 0.435
10 KPLM Keppel Corp Ltd 8.28 7.98 8.12 8.58

Overnight, Current Price at 8.4
11 FCL Frasers Centrepoint 1.23 1.14 1.32  
12 MCPP Marco Polo 0.465 0.425 0.475 0.505 Profit –
Closed at 0.51
13 HSEN Hiap Seng Engineering 0.7 0.64 0.76
14 CMLT CapitaMall Trust 1.77 1.69 1.85 Profit –
Closed at TP
15 GUCL GuocoLeisure Ltd broke high at 0.545, wait for setups
16 DMXT DMX Technologies Group Ltd 0.525 0.45 0.60  
17 SITT Sinotel Technologies Ltd 0.725 0.66 0.79
18 IDT IDT Corporation 0.525 0.48 0.57
19 SINW Sinwa Ltd 0.495 0.44 0.55
20 OKPH OKP Holdings Ltd 0.80 0.72 0.88
21 DESS Design Studio 0.595 0.525 0.665  

Stock Prices last updated at 17.27 (Singapore Time)

Afternoon Highlights

There is a sudden price drop for Chemoil today, with a new setup formed, hence, we went ahead to cut loss at 0.55.

In addition, there is setup for Cosmosteel to buy at 0.55, but it has called for a trading halt this morning, pending an announcement. Let’s wait till the counter resume for further instructions.

In Summary,

Market finished slightly lower at 0.01% from yesterday’s close. There is a support range between 2664.41 – 2676.05. Likely that the market will continue to oscillate…

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We will prefer to see the US market to finish day positive but not up too much. Based on past experience, if the US finish too high up, Singapore will react high and drift down, hence, little reaction is deem better at our opinion.

Quote of the Day

“Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill