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CK Choy.

Market Sense 市场意识: Personal Market View - HSI and sg market update 2012/05/11
Be decisive, Be patient, Don’t be greedy, Don't be stubborn

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The information contained in is provided to you for general information/circulation only and is not intended to nor will it create/induce the creation of any binding legal relations. The information or opinions provided do not constitute investment advice, a recommendation, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise.

You should seek advice from a financial adviser regarding the suitability of the investment products mentioned, taking into account your specific investment objectives, financial situation or particular needs, before making a commitment to purchase the investment product. In the event that you choose not to obtain advice from a financial adviser, you should assess and consider whether the investment product is suitable for you before proceeding to invest.

Any views, opinions, references or other statements or facts provided in this are personal views. No liability is accepted for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on the information provided herein.

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Note:
All TA (Technical Analysis) view using charts are for illustration purpose only.
Unless otherwise specified, all charts' sources are from POEMS(Phillip Online Electronic Mart System)

Friday, 11 May 2012

Personal Market View - HSI and sg market update 2012/05/11


HSI and sg market update 2012/05/11 
by ckchoy

As usual, today market was in selling mode with some tug-of-war actions during the start of the day, but overall the trend was down. 

About 1.30pm noticed a sharp sell-down on HSI upon China's data release, output data below-view. And the bottom was formed around 2.10pm. This could be a capitulation bottom. Sometimes capitulation may not necessary must represent a high percentage drop ( like 5% or more ) in one day, it could be when many bad news has been released. Finally market waited all the bad news out before re-enter again.

Some counters beaten down during the sharp sell down hour like shipping sectors: 
NOL - sold down quick from 1.115 to 1.085 and rebound
Semmarine - 4.58 to 4.51 and rebound
Kepcorp 10.3 to 10.17 and rebound
Cosco 0.945 to 0.92 and rebound

Some counters/sectors were firmed during that period like property Capland and Noble.
Capland remained at 2.65, instead firmed up upon the news and closed at near high today
Noble remained at 1.15 before rebound to 1.16

Even though this may not be the bottom, but looking at some counters in STI, many already cheap in price ( use P/E - do your own homework ). The low(s) is(are) near.
What do you think? 

Posted by ckchoy77 at 17:06

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