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STI Direction
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(Post 4601 of 15224)   11/21/2003.09:58:26
Author :
Merson
I am also watching fm the sideline

(Post 4602 of 15224)   11/21/2003.09:58:44
Author :
Moneytree
Perhaps the STI should be abt where it should be now.

The direction from here is geo-politically dependent. US$ weakness, economic recovery, interest rates, bond yields are priced in. Hard, soft or no-landing on China's/Japan's economy will influence.

Relax la, all/our opinions matter not much to the mkt. Observe the trend, respect it, ride it when warranted.........someone said "make money (or don't lose it), the rest is conversation".

Cheers.

(Post 4603 of 15224)   11/21/2003.10:00:59
Author :
King
It seems that short-term support at (1675-50) has been broken. From the chart the rally is over and we have moved into DISTRIBUTION phase. Better be safe than sorry...

(Post 4604 of 15224)   11/21/2003.10:05:03
Author :
Alchemist
Bull, bull, the mkt should be bullish. Perhaps some people would be happy, but we are deluding ourselves isn't it. Here comes the bull.
Any of u think that the accompanying picture will change the mkt trend? The art of war. The battle is in the mind and needless to say your pocket.
Prepare for war-psychological war.

(Post 4605 of 15224)   11/21/2003.10:10:02
Author :
Max
Where is the shortist die pain pain ??

It seems like its going to be a shrtist's day.

(Post 4606 of 15224)   11/21/2003.10:11:58
Author :
Morgany
Hey Guys, We are near to the year end, we should be going for Holiday. Why are here looking at the screen...Just put all your script away and let those Amoh play, no point fighting with them. Let them kill themselves and we enjoy ourselves watching!

Our turn will come, and when they find that there isn't any liquidity in the market, they will leave us alone. And that is the time we comes in to play again..

(Post 4607 of 15224)   11/21/2003.10:12:49
Author :
Et4
It is better to have a steep fall follow by a steep climb than ero over a long priod. Let the market fall as much as it likes, do not go and support at this moment, wait for opportunity, it will come.

(Post 4608 of 15224)   11/21/2003.10:15:27
Author :
Et4
Our market is strongly affected by terror attack news (more so than other Asian countries). This is because we are US supporter. Do not go in until the dusk settled.

(Post 4609 of 15224)   11/21/2003.10:17:47
Author :
Xgod
When will our backside stoping tearing

Sigh........

(Post 4610 of 15224)   11/21/2003.10:19:49
Author :
7738ok
MARKETS

With the Istanbul blasts, this has rekindled fears of more terrorist attacks, especially with reports quoting sources that these attacks will continue. Even the key economic powerhouses such as the US and the UK have also warned of this possibility. This led to further weakening of the US$ against the Euro.

As a result, both European and US stocks fell last night. The FTSE 100 Index dipped 0.45% to 4308.00. The CAC 40 Index dropped 0.6% to 3324.39. Over in the US, the Dow Jones Industrial Average fell 71 points or 0.7% to 9619.42. The Nasdaq Composite Index shed 18 points or 0.9% to 1881.92. The Standard & Poor's 500 Index fell 9 points or 0.8% to 1033.65.

With the present heighten possibility of more terrorist attacks, investors are likely to adopt a safer trading stance and continue to stay on the sidelines ahead of the weekend as well as near term risks of further downside if there are more attacks. In addition, with the Hari Raya holiday on Tuesdays, some investors are likely to be away for a long break. As such, interest is likely to be muted as characterised by the recent low trading volume.

On the local front, the STI will kick off trading this morning at 1662.43. This evening, Pacific Andes (1H03 earnings) and Want Want (3Q03 earnings) will be releasing their results. (Carmen Lee)

For our technical view on the STI, please refer to yesterday's SG-6PM report.

TECHNICALS

DBS: Critical support was at $14.00. The stock broke below that level today. Next support level is estimated at $12.90-$13.00.

UOB: The stock reached a low of $12.40 today and has effectively lost $2.20 or 15% from the recent high of $14.60. The $12.40-$12.50 zone is a prior low and that could be a near-term support level. Resistance is estimated at $13.60.

Keppel Corp: Share price reached a recent high of $6.15. A double top formation on the daily chart resulted in the stock correcting to a low of $5.25. Support based on double top price objective is at $5.15. Resistance is seen at $5.70.

SingTel: The stock had reached a high of $1.87 two weeks ago. From that level, the stock corrected to a low of $1.71 in late October and subsequently rebounded to a high of $1.82. Today's price action saw the stock ease back towards the October low. That level of $1.71 is a major support level and if that is breached, the stock could head down towards the prior-September low of $1.59. (K. Ajith)
~ by iocbc ~

(Post 4611 of 15224)   11/21/2003.10:23:39
Author :
Morgany
RSI is at below 30% but the MACD 10/20 signals are pointing downwards. As for the 10-25-50 Moving Averages, the 10 Days going to cross over the 50 Days Average in the next two days which indicates a bearish outlook. I am looking at 1620 level to be a good support and any moves downwards will signal our next support at 1560 levels.
OK guys, hope you guys have a clear picture of the STI. If the market maintain and moves up nicely, then all the technicals are bullshiit stories.

(Post 4612 of 15224)   11/21/2003.10:38:32
Author :
Winjack
Market are tired of selling.....time to move up......

(Post 4613 of 15224)   11/21/2003.10:41:25
Author :
Winjack
Singtel has defied gravity.....looks like short term support has been reached for the market....a rebound on the way ????

(Post 4614 of 15224)   11/21/2003.10:41:49
Author :
Hongbao
seems that some shortists are in sell queues.. if i buy, i may be buying from shortists..

(Post 4615 of 15224)   11/21/2003.10:44:40
Author :
Winjack
TAC is defying gravity as well.....when TAC moves, all tech stock move....he he

(Post 4616 of 15224)   11/21/2003.10:49:10
Author :
Hongbao
Winjack, they could be short coverings and they may buy more to sell to buyers coming into a rebound. Those who cut loss have already done so a few days ago.

(Post 4617 of 15224)   11/21/2003.10:53:35
Author :
Macy
Well we have seen before RSI going up but price remain stable then when RSI comes down again prices dropped like bricks .... divergence??

If you hoping for rebound then must catch the right stock lor qns is which one is the right one?? Wait not only didn't rebound but when mkt turn bearish it drops even more.

But then if mkt really didn't rebound by next week FS starts to come in again pushing prices even lower .....

Right now more important to find where the 38-50-62 retrace from March lows and where the MAs are. And then see if there is any rebound from there rather than catching falling knife

The contrarians often when mkt goes up refuse to follow trend but when mkt comes down want to quickly catch .....

Range trader thinks got quick rebound but it broke support and should turn seller instead but don't believe lar ... and there you have the trend traders who see the support broken will keep selling .... so who wins???? Akang Datang lar ....

For me STI not even at 32 yet means ..... continuous weakness even if a brief rebound ....??

(Post 4618 of 15224)   11/21/2003.10:55:00
Author :
Hongbao
rebound will be quick but weak..

(Post 4619 of 15224)   11/21/2003.10:55:39
Author :
Jos
AFter falling almost 9 percent from 1804 with the latest bombings priced in, and with no SARS in sight yet, STI may decide to make a U-turn for the uptrend ANYTIME soon. Nobody knows. So is better to buy some, but not all, along the way, instead of completely not vested. With economic recovery still intact for next year, how much more the market will drop? At this juncture, is upside more or downside more?

I bought this am in the midst of the panic sell off, caused basically by the bombings, when the drop was the strongest. How much Europe and US are going to drop later after they had already factored in the bombing incidents yesterday?.

Just sharing how I see it, DECISION IS YOURS. JMSO.

(Post 4620 of 15224)   11/21/2003.10:56:16
Author :
Hawkeye8
Looks like buying interest have returned despite the strong negative sentiments earlier. There is still some hope today.

(Post 4621 of 15224)   11/21/2003.10:58:01
Author :
Waitlonglong
Future all green already. Nikkie coming back ...except HK....let's see whether does STI have the smae direction...

(Post 4622 of 15224)   11/21/2003.11:00:20
Author :
Winjack
Hong Bao, Just be nimble.....my feel is that index stock are all at critical level...UOB at 12.40, SPH 18.50, Singtel 1.71 ...and it deserve a rebound to break this level....me still wary....he he

(Post 4623 of 15224)   11/21/2003.11:08:03
Author :
Garrett
chia lat leh....
a good % of my previous earnings wiped out...

STI CHEONG AH!

(Post 4624 of 15224)   11/21/2003.11:08:36
Author :
Glc
There is no reason that causes most of the stocks to fall to such low price levels except speculative action. Price will rebounds soon.

(Post 4625 of 15224)   11/21/2003.11:16:25
Author :
Jos
On the other hand, it's good to have many people not vested now. When the market starts to resume its uptrend, those completely sidelined people can chase the stocks up faster and higher. When the market continues its descend, these same people have ammunition to bargain hunt and support the prices. Both ways they help. Of course I would prefer the former.

(Post 4626 of 15224)   11/21/2003.11:21:48
Author :
Macy
In July 1999 when the penny stock was crashing alot of people was also saying the same thing ... will history repeat itself??? That time and now same scenario .... singapore coming out of recession, sesdaq hit all time highs and dick tom and harry stocks also make money .....
Then when people have no fear won't say die and n buy on dips the mkt started to get topsy turvy. Broking houses impose trading limit and restrictions, contra must be settled immediately, broker limit was imposed,etc ..... after dropping 32-50% mkt range bound, until tech bubble comes around .... but although some stocks hit new highs in Tech run, the rest of the stocks that went along with the rally never did see day light thereafter .... the penny stock crash .... after 1999 july Sesdaq hasn't seen high highs but instead dipped 50% even after singapore economy confirmed recover but STI on the other hand pushed by banks and SPH went to hit new highs .....

Penny stocks finally see daylight after sept 2002 and rallied in mar or may 2003 .... a 3 to 4 yr cycle. if you assume that penny stocks has seen its highs this yr the next penny bull run would be in 2005 assuming real sustainable recovery if not 2007 if recovery not sustainable. I guess its a matter of views.

(Post 4627 of 15224)   11/21/2003.11:28:18
Author :
Max
Falling knives are very sharp! Heehee Just when u think its safe to ...

(Post 4628 of 15224)   11/21/2003.11:34:49
Author :
Macy
Rightnow we have to ask is whats there to push prices higher??

Recovery story?? done that
Earnings growth?? Been there

What's next?? any enlightened futurist who can see whats the next industry darling is??? CHina Stocks?? But no China related index stocks in singapore lei ..... so does that mean we will see lower high lower low ??

(Post 4629 of 15224)   11/21/2003.11:39:43
Author :
Moneytree
...at 1650, STI sits near 100 days ma...

Fire8
11 Nov 2003 04:57pm
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moneytree san .....
to watch 100 days MA is for short term or mid term ?? thanks


Moneytree
11 Nov 2003 10:49am
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Hi Koi....maybe....watch the 100 days MA.


link.....Fire8 Web Page Web Page

(Post 4630 of 15224)   11/21/2003.11:49:10
Author :
Dataport
Johnnyned

21 Nov 2003 09:20am
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>U Street Smart Boy <
Today is best time to buy stock...when nobody buy, it is time to buy...things are not that bad .

(Post 4631 of 15224)   11/21/2003.11:53:09
Author :
Macy
Moneytree your right looking at the range plays a double top at 1800, no firm support at 1650 possible minor rebound, but next range play is 1550-1650.

(Post 4632 of 15224)   11/21/2003.12:05:18
Author :
Macy
There is another possibility i found on chart.

The STI may rebound slightly and follow 100d ma ranging from 1640-1690 50 points spread until 10d cust 100d, as in April to may 2002. Therefore if so then say if end Nov this occurs then assuming the same thing the mkt is going to be supported for 1 months between 1640-1690 and then when 10d cuts 100d somewhere begining jan 2004 or end dec 2003 its going to collapse to 50% or 1490 range by late Jan 2004 . Possible???

(Post 4633 of 15224)   11/21/2003.12:10:54
Author :
Moneytree
...link....Web Page

(Post 4634 of 15224)   11/21/2003.12:19:53
Author :
Et4
Cautious Cautious. The downside is not over yet. Holiday on Tuesday. School holidays just started many people not in market, no good news (terror threats) ..etc..

(Post 4635 of 15224)   11/21/2003.12:22:11
Author :
Jos
US futures still green Hopefully Europe will be green too

(Post 4636 of 15224)   11/21/2003.12:25:14
Author :
Moneytree
DJ MARKET TALK/SG: SGX Futures Falls More As Week Closes

21/11/2003 12:22

[Dow Jones] SGX futures resumes retreat, after brief rebound yesterday, as trading draws to close for week. SiMSCI November futures down 0.8 point at 201.8 on moderately heavy 2091 contracts vs yesterday's 1269 contracts; STI November futures down 8 points at 1657 on 8 contracts. Given uncertain market, investors may be selling to cut losses, says NetResearch, noting selling since yesterday ahead of next week's Hari Raya holiday. "We see support for STI at 1630," it adds. (EYG)

(Post 4637 of 15224)   11/21/2003.12:26:38
Author :
Richchee
My calls are pretty good!! 1640 coming.

Load up when STI touches it!

Good luck.

(Post 4638 of 15224)   11/21/2003.12:44:33
Author :
Moneytree
DJ MARKET TALK/SG: Recent Listings Down 20-60% Since Debuts
21 November 2003, 12:03

[Dow Jones] Except for recent IPO debutantes Jackspeed (J17) and Beauty China (B50) which still holding up fairly well, other recent listings likely causing grief for buyers. Since exuberant debuts, Sunray (S38) now down 38%, King's Safetywear (K09) down 42%, KXD (K07) down 21%, Megachem (5DS) down 50%, EDMI (5DR) down 44%, China Food (506) down 36% and Kingsmen (5DQ) down 58%. A-Sonic (A53), the first stock to more than double on debut in recent years, down 36%. "With so many stale bulls, it's not surprising that IPOs are the first stocks to be hit every time there is a big wave of selling," says dealer. (EYG)

(Post 4639 of 15224)   11/21/2003.14:19:15
Author :
Limandchan
Hi Mary I am using a 50d ma seeing the support is about 1650
once break time to run for life no need to wait till end of Nov.

(Post 4640 of 15224)   11/21/2003.14:26:14
Author :
Sparetyreboss
limandchan, how come your 50-day and my 50-day different by so much huh? SI got problem?

(Post 4641 of 15224)   11/21/2003.14:26:49
Author :
Moneytree
DJ MARKET TALK/SG: High Yield Stks May Attract Interest

21/11/2003 14:21


[Dow Jones] High dividend yield stocks may be looking attractive again after sharp correction on recent market weakness. "The correction has made the dividends that these companies are shelling out in the next few months very attractive vs fixed deposits," says trader. Over past 2 weeks, Fraser & Neave (F27), which proposes 30 cent final dividend, down 14%; Cerebos (C13), which proposes 16 cent tax-exempt dividend, down 4%; SPH (S37), whose final dividend of 80 cents goes ex Dec. 9, down 5.6%. (EYG)

(Post 4642 of 15224)   11/21/2003.14:28:42
Author :
Limandchan
Be careful the market is getting weaker and can not hold any longer.
Seem to me the big boy is getting out anytime...

(Post 4643 of 15224)   11/21/2003.14:46:22
Author :
Richchee
I hope you guys have bullets accumulated like what I had advised you 2-3 weeks ago. Its time to use some ofthem!

Good luck.

(Post 4644 of 15224)   11/21/2003.14:55:49
Author :
Macy
Just asking has support turn resistence yet??

DOes this means limited upside ?? kekekek not worth the risk or my money

(Post 4645 of 15224)   11/21/2003.15:00:31
Author :
Limandchan
Many many cheap sale liao! Will buy more later getting cheaper.

(Post 4646 of 15224)   11/21/2003.15:04:15
Author :
Wtantalus
yes,,support became resistance..think sell down more...if I MM, kick down 30% more. Al-Qidal action again.

(Post 4647 of 15224)   11/21/2003.15:06:23
Author :
Limandchan
Yes limited upside. Human come into play too scare to buy at
this point of time. Btw it is sitting on the resistence.
Need more confirmation. like I told you break 1650 and close
lower than that then.....

(Post 4648 of 15224)   11/21/2003.15:10:07
Author :
Wtantalus
see real support maybe downgrade to be 1600. Big guys begin to sell again. think will another round panic selling. damn terrorism

(Post 4649 of 15224)   11/21/2003.15:14:51
Author :
Waitlonglong
Force seeling in place....not big guys....also because of the margin calls I suspect.....

(Post 4650 of 15224)   11/21/2003.15:15:53
Author :
Richchee
I suppose the 1630-1640 will hold for a bit.

It was onli 2-3 weeks ago when people were saying year end rally and 1900 was touted; brokerage houses upgrade and crap. Like I had said mani times, if the analysts are so good, they would not be called analyst, they should call them millionaires. From this experience I had with this sharp correction, (I still feel it is a correction
because the fundamentals are still there), sometimes believe the ang mos in the US. They have the experience and they track the US market. We are just a follower of the US.


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