Morning Highlights

Our Focus For Today is still on REIT Sector

The STI gapped up and opened at 2,693.56. Index tried to test the 2700 points again but failed. Currently is trading above the support range between 2661.39 – 2676.05

Among the individual shares that trades higher,

  • Oceanus broke  high of 0.39 - wait for setups
  • Richland broke high of 0.545 - wait for setups
  • Wilmar touched high of 6.96
  • China Environment broke high of 0.75 - wait for setups
  • Hai Leck broke high of 0.47 – wait for setups
  • Tiong Woon broke high of 0.865 – wait for setups
  • Ezion broke high of 0.835 - wait for setups

As the Singapore Market displays uncertainly, we advise to stay on the sideline first, watch existing open trades and trail the profits accordingly.

Latest News:

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 Triggered – Current Price at 0.38
2 HBEE Ho Bee Investment 1.60 1.34   1.86 To enter as Market Order
3 SITT Sinotel Technologies Ltd 0.725 0.66 0.79 Triggered – Current Price at 0.715
4 SINW Sinwa Ltd 0.495 0.44 0.55
5 INTK Innotek Ltd 0.505 0.445 0.565
6 SUNT Suntec REIT 1.15 1.07 1.23
7 AEMN Ascott REIT 1.02 0.99 1.05
8 OKPH OKP Holdings Ltd 0.80 0.72 0.74 0.88 Overnight – Current Price at 0.91
9 KPLM Keppel Corp Ltd 8.28 7.90   8.66 Overnight - Current Price at 8.55
10 DESS Design Studio 0.595 0.525 0.565 0.665 Overnight – Current Price at 0.61
11 UNIT United Envirotech Ltd 0.32 0.27 0.40 0.37 Overnight -
Current Price at 0.46
12 DMXT DMX Technologies Group Ltd 0.53 0.45 0.61 Overnight – Current Price at 0.505
13 MTHL Metro Holdings Ltd Broke high of 0.7 – lookout for setups
14 TECH Technics Oil & Gas Ltd 0.625 0.58 0.73 CANCELLED

Stock Prices last updated at 17.13 (Singapore Time)

Afternoon Highlights

The Pending Order for Beng Kuan has triggered. We are now in position for this stock, as well as for Sinotel, which our order is filled in at 0.73.

OKP is trending well. Conservative Traders can choose to take profit at 0.88, else, take half, or stay in trade and trail accordingly like we did.

We have cancelled the new pick Technics Oil & Gas as this entry setup is for intra-day trading. Since the order is not triggered today at 0.625, we will wait for new setups on Daily Chart.

In Summary,

We have 7 open trades as of till date. All are making higher highs with orderly trending moving averages and substantiate traded volume per counter. Watch out closely for these price resistances: United Envirotech at 0.48 and OKP at 1.05. Be sure to trail tightly to lock in your profits, especially for United which seems over-extended.

Do lookout on China Stocks and Commodity Shares.. there might be actions on Wilmar. (to enter mid term and short term)

News Update On Noble (source from Warrants News):

Noble requested that the halt on its shares continue for two more days to 23 September. CIC is now a 15% shareholder in Noble. The new shares represent about 11% of Noble's enlarged share base. Noble will raise about US$642m in fresh capital.

Reduced gearing, improved debt costs. MRE expects this transaction to reduce Noble to an ungeared position (assuming it took place at the end of 1H09) on an adjusted basis vs 15% at end 1H09 or 51% on a nominal net gearing ratio vs 91% 1H09. This gives Noble plenty of working capital for its core operations and long-term capital for M&A. Noble should now have cash levels in excess of US$1.4b, and it will also enjoy better rates when it next issues fresh debt on account of its improved credit rating from S&P last week.

News Update On Wilmar: Increased Weightage On Wilmar

Yesterday’s top index mover was Wilmar, the world’s largest palm oil company. The stock climbed 3% dod to S$6.91 yesterday – its highest close since it started trading in July 2000. The FTSE group announced yesterday that Wilmar’s weighting on the STI will increase.

Quote of the Day

“The investor of today does not profit from yesterday's growth.” – Warren Buffett