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Brokerages Agree On Real Time STI Feed
Brokerages agree on real time STI feed
After a five-month boycott, local brokerages have finally reached an agreement with the parties behind the revamped Straits Times Index to get real-time values displayed on their trading terminals. Fees will be waived until the end of 2012 and one-time integration charges have been lowered.
This means from June the 13th, participating brokers will get live values for the STI and 18 other sectoral and themed indices. Retail investors will also be able to access the same real-time data for free via the Internet at a later date. FTSE, which manages the indices, originally only planned to provide free data for the first year. Upset brokerages, represented by Securities Association of Singapore, then staged a boycott, causing inconvenience for remisiers trading index warrants. Labels: Market News
Trading Digest 05-30-2008
TechOil&Gas: Wow, my post on Wednesday can't be more timely! Look at the white candle today !
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DJ MARKET TALK: Technics O&G +3.0%; Tech Rebound On Cards -OCBC
0542 GMT [Dow Jones] Technics Oil & Gas (5CQ.SG) rebounds from recent selloff; +3.0% at S$0.51. Shares jumped to S$0.65 in early May when oil & gas equipment firm announced it had secured its biggest ever contract, but then fell back sharply, now appear to be attracting bargain hunters. OCBC Investment Research says charts show stock oversold, indicate technical rebound may be on the cards. "The correction has been made on the back of gradually declining volume, suggesting the downwards momentum is waning." Adds, oversold signal shown by the stochastic indicator also points to a high probability of a rebound. Tips rebound to take stock back up to recent high of S$0.65, with 200-day moving average currently also trending close to this level. Today's share price rise is on decent volume, given that today is generally a low volume day, which supports OCBC view that stock could head higher in coming sessions. (KIG)
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(END) Dow Jones Newswires
May 30, 2008 01:42 ET (05:42 GMT)
Labels: Trading Digest
Capitaland - Channel Still Intact
On May 2, I anticipated Capitaland may head toward $6.2. Prices are now at almost the channel support at $6.25. Good time to load up at around $6.15 ~ $6.20! Cut loss at $6.05. At $6.05, the channel is broken.
Labels: Stock Pick
Synear
Synear is in a Bollinger Band squeeze currently. Recent traded prices are at the bottom of the BB while RSI is slightly oversold but begin to tilt up. There may be a sudden surprise surge in prices in the coming days ( or weeks ).
Labels: Stock Pick
TechOil&Gas - Effect Of Double Top Wearing Off
On May 11, I mentioned TechOil&Gas was forming a double top reversal pattern. Two weeks have gone passed, TechOil&Gas has lost 16 cents or 32.6% from its recent top of $0.65 to the closing today at $0.49. The double top reversal target is $0.45 but it is not a must to hit that price. There is sign where prices are forming a base right now from various TA indicators. If all goes well with the broad market & uncle Dow, the effect of double top may wear off from here.
Labels: Stock Pick
Market View ( May 27~ 30 )
TA is an art, not science. TA can be very subjective & bias too ( by the chartists ). Every chartists are looking at the same chart but some see a triangle while others may see Head & Shoulder. I won't say who is right or wrong but rather how thorough and observant one is. Obviously, the latter will have better accuracy!
It looks like the H&S spotted by DMG is valid but it is a rather small one and the impact should be quite limited. Downside as a result of the H&S is around 3,025 ( but it is not a must to touch that point ).
STI closed with a hammer today at the backdrop of declining volume indicating selling pressure has weakened. Some pause days or rebound should be in sight. If STI decides to rebound from here, the mid-term bullishness is still intact. But if STI decides to go touch the H&S target after the pause days, further assessment is needed depending on how low STI dives.
These days, it is very hard to predict market movement based on our market alone. STI is too small and too easily influance by other markets. DJ, HSI, Nikkie, Shanghai can all over turn our observation made on STI alone! Based on STI, all my recent obversation was good but all of the sudden volitality returns on Dow and everything turned upside down, sigh!
Last Saturday, I was at Times Bookshop, Plaza Singapura. I got a chance to browse through very briefly a book called "The Joseph Cycle" written by Simon Sim. 2008 is the end of the bull and the bear will last through until 2015!
.DJ Singapore Shares End Lower;Seen Dropping To 2940 In Near Term
SINGAPORE (Dow Jones)-- Singapore shares ended lower Monday, taking their cue from Wall Street's fall Friday, and as the continued rise in crude oil prices fueled inflation fears. The Straits Times Index closed down 0.6%, or 18.85 points, at 3103.30. Twenty-one of its 30 component stocks ended lower, and losers outnumbered gainers 490 to 162 on the wider market.
Market volume was thin with 1.2 billion shares changing hands, as investors chose to stay out of the market with Wall Street closed tonight for Memorial Day. Analysts said the market sell-down is likely to continue in the short term. "Weakened sentiment should bring the index down to 2940," in the near term, said UOB-KayHian analyst K. Ajith. Ajith added that commodity, oil and gas plays are the best picks as commodity and oil prices continue to surge. On Friday, crude futures closed 1.1% higher at US$132.19 a barrel in New York trade, causing the Dow Jones Industrial Average to end down 1.2%. On the domestic front Monday, offshore and marine plays posted large declines as investors chose to take profit after the stocks' recent surge. Sembcorp Marine closed 2.9% lower at S$4.35 and Keppel Corp finished down 2.0% at S$11.56. Prior to Monday's fall, Sembcorp Marine and Keppel Corp had risen 16.1% and 12.2%, respectively, since the start of the month. Singapore Airlines ended 1.8% lower at S$15.50 on concerns that rising fuel prices may affect its earnings. Creative Technology closed down 1.4% at S$6.41 after the consumer electronics manufacturer said Saturday that it was cutting its fourth quarter 2008 sales forecast. Telecommunications firm SingTel ended flat at S$3.61, reflecting investors' muted response to news that its Indian associate, Bharti Airtel, has ended potential bid talks with South Africa's MTN Group. DBS Vickers analyst Sachin Mittal said there might have been some relief that Bharti is no longer exposed to concerns the purchase would stretch its finances. "We expect SingTel's share price to benefit from this news in the near term," said Mittal.
-By Felda Chay, Dow Jones Newswires
Labels: Market Direction
STI - Potential H&S?
I am not the only one who is bullish about STI thinking that it will regain control of 200 days moving average. Other TA bloggers are holding similar view as well. However, it is interesting to note a different view from DMG :
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Labels: Trading Digest
Market View ( May 20 ~ 23 )
STI has once again broken the uptrend trendline resistance of which it has failed to hold after the last breakout on May 2. On the chart, MACD looks set to complete a golden cross ( has not taken place yet ). MFI is tilting upward. CMF shows a positive divergence. STI seems to have arrived at the apex of a triangle. I suspect this time it will sucessfully stay above the trendline!
STI closed at 3,241 on last Friday. Another 25 points more will turn STI into bullish zone in the daily chart. Resistance at 3,325 ( 50% Fibo, 200DMA ).
Labels: Market Direction
Market View ( May 12 ~ 16 )
FS STI lost 105 points in the last three sessions. Short term outlook has turned bearish ( mid-term is still bullish ). In the near term, the index still has room to drop for another 50 points ( Monday morning probably ) before it found support at 3,100 ~ 3,115 which is a channel support & 100 days moving average support. After that, we should see some rebounds later in the week.
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YZJ & Capitland have both traded the way I have predicted. YZJ hits the channel resistance but did not break it and had u-turn from there. Capitaland has edged down toward the channel support at $6.2.
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TechOil&Gas rallied again on May 6 on the back of high volume. It made an intra-day high of .65 on May 6 which is the same level as April 7. However, there isn't follow through buying after May 6. The volume on May 6 was higher than April 7. All these, fit the criteria of Double Top reversal !
Labels: Market Direction
YJZ II
YJZ has broken $1 as predicted on April 22. The upcoming movement can be tricky ( although short term indicators still bullish ) as it is within a sideways to up channel. It may continue to edge up to test the channel resistance or edge down to test the support. Entry at current price level does not justify risk/reward ratio. But should it breaks the channel resistance convincingly and hits $1.2 on the back of high volume, it will be a buy at that time as weekly chart will be turned bullish. 
Labels: Stock Pick
Capitaland II
The sideways to up channel I have first mentioned in my post dated April 9 is still intact. Capitaland has just tested the channel resistance on April 28. There is a bearish divergence in Stochastic signaling an impending reversal from the channel resistance toward channel support. Again, share prices won't move in a straight line so it is going to bounce up and down before heading toward $6.2. If it ever reach $6.2, it will be a buy at that price.
OCBC Research share the same view in their report here today. My original post on April 9 can be found here.
Labels: Stock Pick
