Olam

Olam looks to have found the bottom after it's recent selldown from 2.76.

I picked some up at 2.35 a couple of weeks ago before it got hit again slightly. It retested 2.30 which held firmly and has since crossed 2.35 and even tested 2.39 today. It has closed above the 100ma and is facing resistance at 2.39 the upper bollinger band. A break up will see 2.45.

Supposedly, there are banks buying up it's stock after one of the fund houses sold off their holdings which led to the fierce selldown.

On the weekly chart, we actually see 14,20week ema and 200wma rather flat at 2.39. A break will look to 2.48/9 which is the 50wma

Tuan Sing

I bought Tuan Sing about 1.5 weeks back at 29.5c after it pushed above the 14ema 20ma and 50ma lines
I only bought abit since it was a penny play.

Tuan Sing did a breakout on Tuesday on high volume. This pierce the upper bollinger band as well as closing well above the 200ma.

Today, it closed at 31c which is 0.5c higher. Again it pierce the band. This usually suggests more upside but as it's a controlled play, I'll be abit more cautious.

31.5c looks to be a resistance as we can see lots of sellors at 31c whom are looking to realise profits or cut their losses.

A break of 32c will see it test 33c followed by 35c.

STI 28th Mar

I'm finally back with a new harddisk.
Once again, I'll mention that we are in a sideways market right now. Slightly toppish but the bargain hunters are still there. Uncle Ben not ruling out QE3 has also given the markets a boost.

I haven't changed any drawings on my fibo. Thus we still see 3031 as the overhead resistance. We haven't managed to close above it yet.

We bounced off 3002 today. As Dow is currently red, I will mention the downside is probably around the 2984-2988 region (max) for tomorrow. That's the 20ma line.
When it dips to between 2995 and 2984, it's a chance to buy as it is in the "value" zone.
A break of 26th's low of 2974. will suggest more downside.

Do note that we are in the month-end, quarter-end period and there might be window dressing on index stocks. This also means i'll be busy with month end closing :(

Trade safe!

Directionless market?

The markets can't seem to decide where to head. Especially STI.
The Dow seems to want to correct, but bargain hunters seems to be strongly upholding the markets.

Once again, if unsure, stay out for now!

I'll try to update individual stocks soon. Been really busy with work :(

Limited updates this week

Sorry for the lack of updates this week.
My SSD died on me last weekend and thus I'm unable to do any charting

But as a whole, the market is currently ranging between 2950-3030 in my opinion. Safer to stay out if you are not nimble. The market does feel toppish, but if it manages to consolidate at this range for awhile, I'll be favouring heavily an upside leg next.

Trade safe!

STI at previous high

STI this morning, is flirting with the previous high 3031.

Breakout will see it heading for 3060..

PS: have been busy with work this week. Sorry for any lack of updates

Update DOW and DAX

I decided to post the DAX (German) chart to show how similar the drops were last week.

DAX dropped to 6612 and retraced back to the 23.6% mark. This is much stronger than the DOW as well as STI. The DAX tends to move thick and fast and it shows here. Look at the high it on 21st Feb. Dow only hit it's high on the 29th (this coincides with DAX 2nd lower high). I deduced that DAX tends to move on European news much stronger, especially these few days.

I went to dig why DAX managed to hit a high on 21st and this was the headline news on Reuters. "Europe seals new Greek bailout but doubts remain". 
Immediate resistance ahead at 6883 with support at 6831 which is also the 20ma.

Dow dipped in the last hour back to below the 38.2% zone. Current support is the blue 14 ema line.
My friend drew an S&P 500 line and it has actually broken down below the trendline on tuesday. Friday it backtested the line and pullback. This makes friday a potential evening star but this needs confirmation.
For Dow, the main support for the bull trend since October is the blue line show there. I circled with the red dot on where it must bounce for the bull to stay alive. that's the 12803 on Monday and moves higher each passing day.

I shorted Dow just before closing but this is a very small position, with my stop at above 13060 actually. (gave more leeway). I'm looking for the move to break the supports.

Trade safe everyone.

Retracements of STI and DOW part 2

I wouldn't say much... leave you all to decide.
Note: US market is only updated till Thursday's feed as it currently isn't closed yet.

Dow retracement to fibo points. Tonight 12979 or 12932?

 Noticed the Dow bounced off the trendline.

+

STI also touched n slightly crossed the 38.2% point before retracing

Retracements of STI and DOW

The recent drop of the Dow and STI shows some interesting fibo observations (in particular the Dow)

Note that I'm typing this before Dow closes tonight, thus the data is still based on yesterday's close.

Yesterday's close rebound actually touched the magical 61.8% line and drew back. I was expecting it to drop or consolidate at a range below 12860 today, but it isn't going to be the case. As at writing, Dow is at 12927. This is near the 38.2% (the other magical number). It had gone as high as 12958 at future after our market close but as of open trading hours, it only hit 12938 afew minutes earlier. This suggested it bounced off this fibo line. The question is, will it drop from here? Or will it continue rising. It is going up, I fancy it creating a new high above 13060. This will cause a bearish divergence to appear on the MACD. (those who got deep pockets can consider a small short here)

Similiar, STI rebounded in advance since we were open as we ran ahead on Greek debt news. My fibo of 50% is hit. If it is going to follow Dow tomorrow, We expect 2984 to be reached. That's another 0.5% or 14-15points on STI.

As commented earlier, STI may be looking to break the 3031 high and create the smiliar bearish divergence. When that happens, I'll be risking some money to do an experimental short in Igmarket's "Singapore blue chip index". Slowly opening and pyramiding contracts on it since there's no commission and only a slippage between 0.2-0.5points. Each contract is a mini S$10 meaning 1 point is worth $10 per contract.

Ps: noticed the other day's low reversal candle? It's body still closed below my Long Term Fibo line at 2914.

It's been a Topsy turvey few days

The market is like a rollercoaster.

Down the last few days but recover spectacularly today.
This market is designed to kill both retail shorts and longs..

I'll update my charts again soon.

Trade safely, or stay sidelined for now

Small investment : Foreland

Foreland fabrictech was sold down quite severely  after reporting good profits for FY2011.
This is probably because investors had either looked to take profits and also some might have expected better results.

At current price of 10c, I feel it's a good price to consider keeping some under your pillow. Thus, I loaded some lots at 9.9c

Some figures:
1) Net profit for 2011 stood at RMB 140 million (this was achieved without income from other alternative sources - eg gain on disposals etc)

2) Cash stands at RMB 228m with liabilities (both current and non current) at 84.5m. This works out to be 143.5m without even considering their trade receivables of 117m.

3) With the 143.5m cash (see above) and 528.7m shares, this works out to be approximately RMB 0.27 per share. This is about SGD 5.4c (assuming $1 = RMB 5). If we added in the trade receivables, we would get about SGD 9.9c (my vested price)

4) For those cautious about uncollectible receivables, FY2011 had shown a decrease in receivables turn around as the company has tighten credit control

5) As at end of 2011, the company had 0 borrowings which indicates minimum leveraging.

6) Lastly, the gross margin on their products have been increasing from 22.5% to 29%. The company had invested in new machinery in 2010 and thus are reaping the rewards of better productivity.

Thus, I'm gonna sit on this counter although is an S-chip. I was told a fellow forumer had quite a large investment interest in this as well.

Caveat Emptor! Please do your own research before you take my advise as I'm vested.

Update on dividend yields

I actually keep 2 files to track dividend yields of STI components stocks as well as REITS (and other high dividend counters)

I have updated them as of 2nd March prices. Here is a screen shot of them

*Note: the STI component chart did not include those "declared" dividends which are still subject to approval at AGM. Eg Genting's 1c.