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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 25/06/10

By sgxwarriors

Morning Highlights

Singapore market started on a weak note after US stocks fell overnight on worries over the durability of the economic rebound. STI down 13.65 points to open at 2833.96.

If market were to close badly by end of today’s session, there could be another round of selling following up. Based on chart view, the long term moving averages are converging.

Sound Global Trading Halt

Lookout for Economic News Release For Today:

U.S Annualised 1Q GDP and the U. of Michigan Confidence Gauge
Japan CPI Numbers (Japan CPI shows deflation tough to beat)

News Updates:

U.S. first-time jobless claims total 457,000 last week, down 19,000
U.S. stocks close down 1.7%, with S&P 500 seeing fourth straight drop
Oracle shares rise more than 4% in late trades after company posts 25% higher profit
Research In Motion net jumps 20%; shares dip in after-hours trading
Japan: Nikkei falls 1.5%, hovers near key support level
Japan qualified for the last 16 of the World Cup as Group E runners-up after beating Denmark 3-1 on Thursday while Holland won the group with a 2-1 victory over Cameroon.

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.

Bullish Stocks (Singapore)

	Symbol	Name	Entry	SL	TSL	TP	Remarks
1	ARMS	Armstrong Industrial Corp	0.475	0.425		0.525
2	SIAE	SIA Engineering Co Ltd	3.99	3.85		4.13
3	STRL	Straits Asia Resources	2.15	2.05		2.25
4	UMSH	UMS Holdings Ltd	0.325	0.275		0.375
5	~~HIPI~~	~~Hi-P International~~	~~0.605~~	~~0.57~~		~~0.64~~	Broke out but not entered. (Intraday chart is not in order)

Stock Prices last updated at 17:05 (Singapore Time)

Afternoon Highlights

Index is recovering, will have to observe further to see how market is moving for the afternoon session.

New Trade Opportunity, to buy Keppel Land at 3.92, Stop Loss at 3.87 and Target Profit Level at 3.97 (Small Risk)

Please take note that Quick Pick 4 is supposed to be for UMS Holdings, not Unionmet. Apologies for the typo error.

In Summary,

Index closed up 4.03 points to 2851.64, with 991.26 million traded.

By week, index gains 18.24 points, with 6.3635 billion traded.

With reference to the Daily Chart, Moving Averages are pointing to the upside, and there is a resistance at 2900.

However, based on weekly chart, moving averages are not in order. If index is able to breakthrough 2900 eventually, the Moving Averages on the weekly chart will start to diverge. If that happens, Long Term Chart View will remain bullish.