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Daily Reports May 2012
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redbean



Joined: 07 Mar 2006
Posts: 13855
Location: singapore

PostPosted: Wed May 23, 2012 5:23 pm    Post subject: Reply with quote

Europe closed strongly yesterday. Dow was up most of the day but fell to close -2 in the last half an hour. It ended at 12503. Dow's closing is still above the downtrend line but weakening. And tonight is not looking good at the moment with Dow's future at -57.

Asian bourses took a turn for the worst. Nikkei -173, ShanghaiC -10 and Hangseng -253. STI closed at day low with last minute selling at 2780, -43. Volume was 1.6b shares.

Trend of STI is pulling back after two days of gains.

Top volumes were JEL -0.8, TTInt -0.2, ChinaAniH +4.5, GoldenAgr -0.5, Olam -11.5, Genting -4, Noble -4.5, HLH -0.2, Singtel -3, Capitaland -8.

Market was hit by news that Greece is considering pulling out of EU. The firmer sentiment and the strong closing in Europe turned into dismay. STI tried to hold on to its position but could not withstand the selling pressure. Penny stock play could not continue with the negative outlook.

Europe opened sharply down and things are looking very uncomfortable at the moment. Dow's future is also down. Would Greece confirm its position tonight?
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redbean



Joined: 07 Mar 2006
Posts: 13855
Location: singapore

PostPosted: Thu May 24, 2012 5:20 pm    Post subject: Reply with quote

Europe fell sharply yesterday. Dow too was down 200 pts but last minute buying propped it up to close -7 at 12496. Dow's trend is levelling and consolidating. Dow's future is now -25 while Europe opened negative but starting to turn positive.

Asian bourses were mixed. Nikkei +7, ShanghaiC -12 and Hangseng -120. STI closed -1 at 2780. Volume was 1.5b shares.

Trend of STI is flattening with the down trend halted.

Top volumes were GSH +0.2, TTInt +0.5, AddvalTech +1.1, SweeHong +1, Noble -1, NexGen +0.1, GoldenAgr -1.5, SinHeng +3, Olam -4, Genting -0.5.

Our market tried very hard to stay positive but still ended -1. Blue chips were mixed but banks slightly better. Penny stocks were starting to get active again with the favourites like GSH(JEL), TTInt back in play.

Europe looks a bit more stable with some news of EU trying to accommodate Greece. Dow's future and Europe are looking steady at the moment.
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redbean



Joined: 07 Mar 2006
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Location: singapore

PostPosted: Fri May 25, 2012 5:18 pm    Post subject: Reply with quote

A bit of stability returned to the markets. Dow and Europe were slightly on the positive side. Dow was +34 at 12530. Dow's trend is starting to level up and another few sessions of ups could see a trend reversal. Dow's future is not +25. Europe were firmer on opening.

Asian bourses were mixed. Nikkei +17, ShanghaiC -17, Hangseng +47. STI closed -7 at 2773. Volume was 1.5b shares.

Trend of STI is still looking down.

Top volumes were NexGen +0.2, AddvalTech unchanged, SingXpress +0.2, GoldenAgr-0.5, Noble +2, GSH unchanged, SweeHong +1.5, Olam -3, TTInt +1, TopGlobal unchanged.

Another very quiet day in the market. STI traded in a very small range. Some activities in penny stocks. Blue chips were mixed.
The Friday factor also added in to keep the market sideways.

Whatever, the most serious threat to a revival of the market is computer trading and derivatives that are destroying the values of the underlying stocks. With these two elements in play, the market will die a natural death.

Europe and Dow are steady at the moment, Just pray Greece will not come out with more bad news, and so is Spain.
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redbean



Joined: 07 Mar 2006
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PostPosted: Mon May 28, 2012 5:16 pm    Post subject: Reply with quote

The Friday closings of Dow and Europe were steady though I got a shock reading the crawlers of CNA. It read Dow slumped but actually fallen 75 pts only. Europe closed slightly positive. Dow's trend is flat and Dow's future is now +70. Europe opened up.

Asian bourses were slightly positive. Nikkei +13, ShanghaiC +28, Hangseng +88. STI +14 closing at 2787. Volume was 1.2b shares.

Trend of STI is flat but breaking up.

Top volumes were SinHeng -5, NexGen +0.1, THBEV unchanged, GSH -0.2, Noble -0.5, Genting +2.5, SweeHong -2, GoldenAgr +0.5, Olam +1, Singtel unchanged.

Another quiet day but market recovered slightly after opening down. It closed near day high, +14. Banks and blue chips were slightly better.

Not much play on the penny stocks.

Dow and Europe look fairly ok at the moment with Spain threatening but probably getting a bailout from the govt.
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redbean



Joined: 07 Mar 2006
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PostPosted: Tue May 29, 2012 5:19 pm    Post subject: Reply with quote

Dow pulled back a little last night, -75 to close at 12455. Europe was flat. Dow's trend is still flat. Dow's future is now +104. Europe opened up but retreating slightly.

Asian bourses were mostly up. Nikkei +64, ShanghaiC +28, Hangseng +254. STI closed+15 at 2802. Volume was 1.8b shares.

Trend of STI is poised to turn up. Looks like a trend reversal in the making.

Top gainers were GSH +0.2, NexGen +0.1, Noble +4, Unifiber +0.3, Plastoform +0.3, UPP +2, TTInt +0.3, Yoma +7, Ntegrator +0.5, InterraRes +6.5.

Market dipped on opening but recovered all the way to close near day high at 2802. There was across the board gainers. Blue chips and banks were better. There were some play in penny stocks.

Myanmar stocks like Yoma, UPP and InterraRes made good recovery.

Chart wise the market seems to have bottomed and starting to turn around. This is also the case for Dow and Hangseng. If Europe doesn't turn ugly again, there is good possibility of a little uptrend on the way.
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redbean



Joined: 07 Mar 2006
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PostPosted: Wed May 30, 2012 5:17 pm    Post subject: Reply with quote

Dow and Europe were up last night. Dow +126 at 12581. The chart is looking for a golden crossing and a trend reversal. Dow's future is now -73. Europe opened down. What an anticlimax.

Asian bourses were weak and mostly down. Nikkei -24, ShanghaiC -5, Hangseng -365. STI closed -14 at 2788. Volume was 1.6b shares.

Trend of STI is also attempting a golden crossing. The weak closing is holding this back.

Top volumes were GSH -0.2, Noble +1.5, GoldenAgr +0.5, TTInt +0.6, ChinaTaisan +0.7, Yangzijiang -3.5, Singtel -3, Genting -2.5, JEP unchanged, Olam -2.

Another quiet day of trading. The positive sentiment disappeared despite the good closing at Dow and Europe. Regional markets were mostly down. Blue chips were down and penny stocks struggled.

While the charts of the major bourses are looking good, sentiment and worries took over and the recovery fizzled out.

Both Europe and Dow are looking weak tonight.
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redbean



Joined: 07 Mar 2006
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PostPosted: Thu May 31, 2012 5:19 pm    Post subject: Reply with quote

Dow and Europe looked pretty bad last night. Dow -161 to close at 12419. This affected the push for a golden crossing. The trend reversal is still intact and not turning down yet. Dow's future is now +57 and Europe opened slightly up.

Asian bourses were mostly down but not scary. Nikkei -90, ShanghaiC -12 and Hangseng -61. STI closed -11 at 2773. Volume was 1.9b shares.

Trend of STI is still poised to cross upwards.

Top volumes were Goldtron unchanged, NexGen -0.2, Noble -1.5, GSH +0.2, GoldenAgr -1, SweeHong +1, Singtel +5, Genting unchanged, Yoma -1, InterraRes +3.5.

Market opened weak but attempted to break up. It ended slightly better than on opening with smaller losses. Overall market was mixed with blue chips slightly weaker.

The steady opening in Europe helped Hangseng to stave off some losses.

Last night's fear of Spain going further down eased somewhat. Perhaps it was overly sold in Europe and Dow and a little technical recovery is on the way. Both are looking steady at the moment.
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