Morning Highlights

The STI dropped 0.36% to 2662.99 in the early action after a retreat on the US Markets. Singapore Stocks are exhibiting weakness and little exchanged in the choppy trading so far. Most of the Sectors are also losing ground, while China Related Stocks seem to display signs of running, but the signals are still very weak.

Updates on Cosmosteel:

the Company has today entered into a placement agreement (the "Placement Agreement") with Kim Eng Securities Pte. Ltd. ("Kim Eng" or the "Placement Agent") pursuant to which the Company has agreed to issue up to 35,000,000 new ordinary shares in the capital of the Company (the "Placement Shares") and Kim Eng has agreed to use its best efforts to procure the subscription and payment for the Placement Shares, at an issue price of S$0.494 per Placement Share (the "Issue Price"), amounting to an aggregate consideration of up to approximately S$17.29 million.

News Updates:

We have removed Hiap Seng, Pan Hong and DMX from the Quick Picks. Currently waiting for their resistance to breakout and setups to form.

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 BENK Beng Kuan Marine 0.365 0.31 0.42
2 HKLD Hong Kong Land 4.27 4.05 4.49 Cancelled
3 KPLM Keppel Corp Ltd 8.28 7.98 8.12 8.58

Took Half PROFIT at 8.37

Current Price at 8.43
4 SITT Sinotel Technologies Ltd 0.725 0.66 0.79
5 IDT IDT Corporation 0.525 0.48 0.57 Cancelled
6 SINW Sinwa Ltd 0.495 0.44 0.55
7 OKPH OKP Holdings Ltd 0.80 0.72 0.88
8 DESS Design Studio 0.595 0.525 0.665  
9 GPAK Goodpack Ltd 1.1 1.01 1.19 Has liquidity Issue
10 CHEL Chemoil Energy Ltd 0.59 0.525 0.655 To enter as Market Order
11 HBEE Ho Bee Investment 1.60 1.34 1.86 To enter as Market Order
12 AINT Ascendas India Trust Touch high of 0.9
13 UNIT United Envirotech Ltd 0.32 0.27 0.28 0.37

PROFIT -CLOSED at 8.37

Stock Prices last updated at 17.29 (Singapore Time)

Afternoon Highlights

The market continue to edge lower in the afternoon session. On the other hand, REIT seems to be just pausing. We notice new setups for REIT sector. There might be a high chance for the REIT stocks next week.. but let’s wait for more confirmations.

Conservative Traders can choose to take profit for United Envirotech at 0.375. Aggressive traders may continue to trail the profits…

In Summary

Market is retracing today. STI broke down the support at 2661.39 during the last 15mins of trading. We deduce that the last minute break down of support is not valid; market is likely to pause for a short while before re-exerting to break 2700. 2700 point has been tested 3 times and has yet to be broken.

Winquote - pdfMachine from Broadgun Software, http://pdfmachine.com, a great PDF writer utility! 

Winquote - pdfMachine from Broadgun Software, http://pdfmachine.com, a great PDF writer utility!  On Weekly Chart, the chart pattern forms a DOJI which indicates market uncertainty lingers on . We’ll have to keep a lookout in the coming week for clear market signals.

Updates on Gallant:

Hi Everyone,

We do notice that Gallant break recent high and we are also looking for setups. Some of you may be concern to enter the market right before it shot like a missile, but it is difficult to catch the sudden movement especially it has been consolidating for a month.

Winquote - pdfMachine from Broadgun Software, http://pdfmachine.com, a great PDF writer utility! From the chart, evidently, there is no volume and the price range has been very limited. The recent up with high volume and high price range is a good signs of interest. But the next day shows high volume and close poorly indicates that buyer is not as strong as seller on that day. The buyer is starting to buy slowly, hence, we conclude that we have not missed anything on this stock yet.

Do wait for a pause and re-enter when trend resume. China Sector has yet to perform.