Singapore Stock Market Updates on 14/10/09
Morning Highlights
Our Focus For Today Is Still On Small & Mid Caps
STI opened 5.14points higher than yesterday’s close. There are a few blue chips breaking its high but sector remain weak.
Please note that we have just entered our position for Ramba Energy. Currently the stock is trading at 0.715. (10.17)
U.S. News Updates
US shares opened mixed on Tuesday with investors pausing to digest gains from a recent rally and awaiting a wave or corporate earnings reports.
The consumer confidence fell in October, and after months of fluctuations in sentiment, further negative pressure caused by mounting unemployment could hurt consumer spending, a research group said on Tuesday.
Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index slipped to 48.7 in October from 52.5 in September. (Business Times)
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 | SIAT | Singapore Airport Terminal Services | 2.59 | 2.44 | 2.74 | ||
| 2 | Stock touched 0.72. CANCELLED | ||||||
| 3 | UEL | United Engineer | 1.82 | 1.69 | 1.95 | ||
| 4 | HKLD | Hong Kong Land | 4.75 | 4.63 | 4.87 | Triggered, Current Price at 4.80 | |
| 5 | Ramba Energy | 0.72 | 0.655 | 0.785 | Triggered, Current Price at 0.725 |
Bearish Stocks (Singapore)
| Symbol | Name | Entry | SL | TSL | TP | Remarks | |
| 1 | LOSS – CLOSED POSITION at SL | ||||||
| 2 | STAR | Starhub Ltd | 1.93 | 2.04 | 1.82 | ||
| 3 | CANCELLED | ||||||
| 4 | CANCELLED | ||||||
| 5 | CANCELLED | ||||||
| 6 | ECSH | ECS Holdings | 0.445 | 0.50 | 0.39 | ||
| 7 | CRCT | CapitaRetail China Trust | 1.14 | 1.21 | 1.07 | ||
| 8 | CANCELLED | ||||||
| 9 | SINO | Sinomem Technology | 0.55 | 0.62 | 0.48 | ||
| 10 | CANCELLED | ||||||
| 11 | CANCELLED | ||||||
| 12 | CANCELLED | ||||||
| 13 | CANCELLED |
Stock Prices last updated at 17.10 (Singapore Time)
Afternoon Highlights
STI is going up, retesting yesterday’s high of 2687.52. On the hand other, Hong Kong shares is up 1.4% at break while Japan’s Nikkei stock average went down by 0.2%.
Noble broke high of 2.60, to wait for setups. Please watch out for Noble’s historical high price of 2.87.
Estimate beat from Intel provides markets with a gains narrative.
Bank of Japan unanimously votes to leave overnight call rate unchanged at 0.1% as expected.
Our Market Sentiment has shifted to bullish, hence, we will be resuming to enter trades at normal risk after today.
In Summary,
The STI is up by 40.08points with high volume of 2.39 billion traded. It has finally breached the resistance at 2700, which is likely to turn into a support for the index. Furthermore, the increase in volume traded indicates that the buying momentum is coming back. Index has been making new highs for 7 consecutive days. To watch out for the next resistance level at 2763.42.
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