Latest Singapore Shares News

I m a bit late this weekend, but let’s do an update on the latest Singapore Shares News and possible movement on the upcoming week 22 to 27 Nov. Last week had not been kind. Global markets bled. The Eurozone crisis persisted, hence restricting any geniune recovery. The Italian and Spanish bonds rate are hovering around the 7% region, giving the markets jitters.

And recently, market claimed its first victim in MF Global. Now, I m not going through what went wrong with the company because it would be a delayed comment. However, on a significant note, if we still remember, before the then sub prime crisis went full blown in Aug 2008, months before that (about 1/2 a year or so), the Stearn Bear collapsed. At that point of time, markets ( singapore shares ) dropped but promptly recovered to position itself for a deeper selldown towards end of 2008.

Could MF Global be a second Stearn Bear, serving as a prelude of more (bad) things to come? One thing for sure, the violatility is here to stay. Because of that, I had also shifted more attention to trading Futures again in Indices like Hang Seng, FTSE and S&P500. Initially when I turned full time trading, I was trading S&P500 intraday as “major” whereas stocks were very much like a pastime.

However, for a period of time when I was engaged in teaching trading, I was rendered to trading stocks only because it is so challenging to trade intraday positions with other commitments, hence stocks, at that point of time, is the best option for me because it is the slowest moving instruments among all.

A distinct advantage of trading both stocks and futures at the same time is the ability to hedge my positions. Usually, my stocks trading horizon is between 1 to 2 weeks. In between, I would capture the daily violatility trading the futures. If the market suddenly goes against my stocks position, especially when the local market is closed, I can enter opposing trades in the future market to control any potential damages.

Latest Singapore Shares News – STI index, Genting Singapore and Sakari Resources

Alright, the stock market this coming week could be is “half red half green” for singapore shares.  The reason is that last week market was in red. The selling momentum could be carried through till Monday and Tuesday for this week. After that, market may get a temporary reprieve and start to move upwards again. Let’s take a look at the STI index on the potential movement.

STI Index

The STI index had been sliding down with consistency last week, notably with an increasing vol, indicating that the bear is seizing the initiatives from the bull. I have a view that STI could be supported around the 2680-2690 region. It means that from the current level, it can still has about 40-50 points to drop. From there, I would expect a retracement upwards. I would regard 2690 as a crucial support level. If STI loses that level, dropping another 100 points or so would be as easy as ABC. For those who does not have any position, it would be wise to stay out now because shorting now would not have much meat left, while market is not ready to turn up either. Look out for any bullish reversal candlestick around 2690 to enter long for a short short term anti-trend play.

At the moment, I had vested interest in some shorts position of singapore shares : DBS ($12.78), Sembmarine ($3.98), Sakari Resources ($2.15) and Genting Singapore (average $1.67). I would share my views on Genting and Sakari for this round.

Singapore Shares Genting Singapore -

Genting SP

Genting SP had established a Head & Shoulder formation. In fact it had already break down from its support. This counter is seriously bearish at the moment. I am targeting to cover back my shorts positions at around the 1.49 to 1.50 region. At this level, it should coincide with STI at 2690 region. Any possible retracement could see it shooting back to the high 1.5x region. I may pass the chance to play this anti trend move, but if it ever move back till 1.57-1.58, I will short from there again. I reckon a lot of counters are going to test their Oct lows. In Genting’s case, it will be 1.42.

Singapore Shares Sakari -

Sakari

Formerly known as Straits Asia Resources, Sakari moved in a similiar fashion like Genting. It broke its double top, and now heading northwards. I plan to cover my 10 lots shorts at around the 2.00-2.01 region. Again, waiting for another opportunity to short when it retraces upwards. If you had observed, I had used the word retrace umpteen times in this post because I really want it to come up so that I can get a better price to enter shorts again .

Will the market simply crash downwards without any proper pullback? Possible. If STI does not defend its 2690 well, then it could be a pretty steep fall till the 2600 region. So let’s put our hands together and pray for a retracement. hehe…. OH YAH, before I forgot. I just want to mention that commodity stocks are the ones that rised a lot over the past 2 years. So expect them to fall more than the rest. But with quite a number of commod counters around, which one should we select.

Easy, firstly, choose one with vol. More people selling means it can drop more, drop faster. Secondly, select those with meat. Noble Group had been coming down with vol. However as it nears the $1 mark, it’s daily range will not be as wide as before. Just like Indoagri, after a series of run down, it had simply inching up and down. Hence, I am putting Sakari , Wilmar and Olam as the commod counters to trade under my radar .

Latest Singapore Shares News – Cheap prices

In the coming days, price will be getting cheaper and cheaper. But don’t be tempted by them, thinking they are “low”. It’s human nature to compare current price to a recent price. But they could get lower. Any short term long positions should be closed on quick profit. Hopefully by the next round when I update on the latest Singapore Shares news, everyone had reap some rewards.

Back to Best Stocks To Buy Right Now: ATimidTrader | Latest Singapore Shares News