DJI rebound?

Dow is currently up 140 points. Based on charts, it bounced off the black trend line support. (lows of Mar and Jun'11 as well as Oct's top)

Immediate resistance at 12987 (50ma) 13033 (14ema), 13115 (20ma)

For those risk adverse, can stay sidelined until the 20ma is cleared. Indicators still look a tad bearish. But the strong rebound might suggest that the bull might continue.

I see an ascending triangle that just broke out today. Too bad I didn't react in time to it.
It did show some signs of strength since it continues to trade at the top of the triangle with little reaction.

Based on theory, the upside from 11.13 is another $1.80, which brings use close to $13 potentially.
But based on fibonacci, the immediate target would be $11.64 to 11.70 region (which was part of the shoulders in last Apr/May).

After hours, there was news of a US$4bn letter of intent by a customer, and this might be the cause of the move.

Trade safe!

Some charts for consideration

Closed my shorts

I closed my shorts on CMA and Golden this morning.
Market had looked like it was poised for a rebound and thus I closed. Golden lost one bid by closing at 0.795 (it looked like it was waiting for bumi agri's IPO before bursting up). CMA closed at 1.575 (4 bids profit)

Intra-day, I longed SGX at 6.69 and closed it off at 6.74 before closing. Somehow it didn't feel right.

Europe and US just got hit badly.. and we might see STI back to the 2955 and maybe even 2915 today.

Trade safe

Shorted GoldenAgri and CMA

On Thursday, I shorted both GoldenAgri (79c) and Capmallasia ($1.595)

As posted on earlier, Golden seems to have hit the upper channel and looks due to reverse. However, with BurmiAgri IPO happening next week, Golden may just react positively... so I'll have a tight stop just above 80c.

CMA looks to have broken down below the trend line.There also looks to be shorting going on as well. We shall see how it performs. I noted that when STI flipped to a positive on Thursday's trading, CMA did recover but very little.. it shows that it is weak although the body of the candle is small. Monday will give a hint of it's strength/weakness.

On Thursday night, Dow managed to close above 13000. A strong break of this support  will push it down further to 12700ish.

Trade safe!

CMA and Goldenagri Charts

2 counters which I might short...

Updates on dividend yields

Here's my updated monthly REITS and STI components dividend yields sheet.

Abit late this month due to work commitments.

In March, I reopened my dividends portfolio. I had previously sold off my 1 lot of SGX to realise the capital gains and thus wanted to load some to my empty portfolio. I bought the following which should be enough for the year (unless the market goes into a deep correction):

10 lots of Cambridge REIT @ 53c
5 lots of Mapletree Ind Trust @ $1.09

Industrial reits seem to perform better as a whole. Do note that Cache has had a 2c special div due to some new placement of 60million shares @ 98.5c