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Here's daily updates on SGX Warriors...

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It hasn’t been a smooth sailing period for us. Indeed, we suffered from the uncertainties and have yet to fully recover from the drawdown.

Life is not a bed of roses. Everyone has barriers and obstacles, and indeed, the journey of investment is full of hurdles. Nonetheless, we take setbacks in our stride…

“Real optimism is aware of problems but recognizes solutions,; knows about difficulties but believes they can be overcome; see the negatives, but accentuates the positives; is exposed to the worst but expects the best; has reason to complain, but chooses to smile.” - Quoted from William Arthur Ward

Singapore Stock Market Updates on 10/11/09

By sgxwarriors

Morning Highlights

The STI opened high at 2725.0, up 31.66 points after the DJIA rose to a new closing high for the year on Monday. It is currently trading well above the 1st resistance level but stopped before the 2nd resistance at 2728.98 as mentioned yesterday.

Our Focus For Today is on Bank Stocks

Wilmar cleared resistance at 6.48, to wait for setups. New trade signal for Wilmar, to Buy at 6.60, Stop Loss at 6.49 and Take Profit at 6.71.

There are 3 supports established so far, namely, 2657.5, 2681.69 and 2708.14 (new). We would expect the market to do a pull back but not surprise that the pull back could be rather steep to test support at 2657.57.

Global Testing Corporation reported a 3Q net loss of US$2.8million,
Fabchem China said its 2Q net profit surged more than 10 fold to about S$2.2 million from a year ago.

Corporate Announcements
NOL: Announced operating performance for the period 19 September 2009 to 16 October 2009, reflecting volumes that rose 14% year-on-year (yoy) but average revenue per Forty-foot Equivalent Unit (FEU) declining 29% yoy.

Wed 11 Nov 09: Noble, Yanlord, IndoFood 3QFY09, SingTel 2Q09

News Updates

Wynn Resorts declares special dividend of $4/share
Sempra Energy's quarterly earnings rise 3%
BorgWarner sees $1.8B net new business 2010-2012
Cadbury rejects 'derisory' Kraft offer of a 9.8 billion pound ($16.5 billion) hostile takeover – Cadbury rose 0.42% to 50.71 whereas Kraft fell 0.93% to 26.53
GE and cable operator Comcast to create a joint venture to own GE’s NBC Universal valued at about 30 billion dollars.
Wall Street stocks vaulted higher on Monday as investor sentiment was helped by a Group of 20 decision to maintain stimulus measures to hasten economic recovery from recession. The DJIA rose a hefty 203.52 points (2.03%) to end at 10,226.94, logging its best closing level since 3th October 2008. (CNA)
China's contract chip maker SMIC will pay US$140 million in cash to larger rival TSMC and may offer US$100 million worth of SMIC shares to TSMC to settle a trade-secrets lawsuit, a source with knowledge of the matter told Reuters on Tuesday.

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	HWHS	Hwa Hong	0.515	0.465	0.525	0.565	Overnight, Current Price at 0.58
2	STEG	ST Engineering	3.02	2.94		3.10
3		Centraland	0.56	0.52		0.60
4	WLIL	Wilmar	6.60	6.49		6.71	Not Entered! Market is doing a pullback

Stock Prices last updated at 17.30 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
City Development – Buy at 10.50, Stop Loss at 9.55
Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
Ezra – Buy at 2.08, Stop Loss at 1.66

Afternoon Highlights

Market broke down the low of 2707.37 created in the morning session. It is now retracing below 2700, returning its early gains.

People's Food Holdings Limited said net profit for the 3Q fell 59% YoY to RMB85.58 million.

PEC Ltd said its net profit grew 34% to S$7.1 million for 1Q ended 30th Sept ‘09.

StarHub has reported a net profit of 7.1% increase in 3Q on the back of higher sales across three out if its four businesses.

Yahoo Inc.expects to gain regulatory approval for its plan to enter a 10-year Internet search partnership with Microsoft Corp by Q1 2010.
HSBC Holdings said its underlying 3Q profits were significantly ahead of a year ago , though the reported result is lower due to charges linked to the changing value of its own debt. Shares in the bank traded up 1.5% after the statement.
Barclays’s 3Q net profit fell 54% to 1.08 billion pounds ($1.81 billion) from 2.33 billion pounds a year earlier, but trading in October has been generally consistent with the trend for the first nine months of the year and that it will pay an interim cash dividend of 1 pence a share in December, with a final cash dividend to be declared in February.
Sprint Nextel to cut up to 2,500 jobs by end of year‏

In Summary,

Market eased its early gains but still close up 14.22 points at 2707.60 with 1.4194 billion traded. It is actually good to see that market did some pullback before resistance at 2728.98, as this signifies a good chance that it will resume its bullish trend after the retracement.